ABIOLA'S WILL: Simbiat Gets N63m
Afolabi Ogunleye
ABIOLA'S Will Simbi Gets N63m
Africa News Service
14-JAN-99
Lagos (P.M. News, January 14, 1999) - P.M News can today reveal some of the
details of the will left by the late president-elect of Nigeria and Are Ona
Kakanfo of Yorubaland, Bashorun M.K.O. Abiola.
P.M. News learnt this morning that the executor of the will was Natwest Bank
in London, where the late tycoon maintained his account for over a decade
and where he was a shareholder.
The will was read in London last month to representatives of the large
Abiola family. Kola Abiola represented children of his mother, Simbiat,
while Lekan represented children of Kudirat, Abiola's wife slain by Abacha
agents in the course of the June 12 struggle.
A daughter of Bisi, Abiola's third wife also represented children from her
mother's side. Doyin Abiola was to be represented by her daughter Koyinsola,
but she was in school. All the other wives of MKO, 21 of them married
outside Abiola's immediate household were represented by Titi Abiola.
Informed sources told P.M News today that Abiola adopted a unique sharing
formula of his estate, bequeathing the inheritance in graduated ratio to the
wives.
All the children, including Kola were treated equally(ori o jori), an
indication that the business tycoon never forgot the Yoruba tradition of
sharing inheritances. By the formula, Simbiat got the highest money,
estimated to be about Pounds450,000. Kudirat got the second highest. No wife
got less than Pounds20,000. After the wives have been taken care off, the
executors of the estate now divided the rest among the children, estimated
at close to 100.
The tycoon was said to have left words that only his "confirmed" children
should be entitled to share of his estate. While alive, Abiola had disputed
several claims of paternity, resolving all by blood test. The will, P.M News
learnt recognised 25 wives. Before his incarceration, and sudden death 7
July, 1998, Abiola had passed the management of his estate to a Briton,
Peter, who was the former branch manager of Natwest, at the Kings Cross
branch. The will was however silent on Chief Abiola's estate in Nigeria,
sparking speculations that a battle may soon begin for their control. But a
family source debunked such fears, saying that the matter will be resolved.
"An Abiola that treated his children equally may also have intended that his
children will share his estate in Nigeria equally and according to Islamic
injunctions," said the source. In Nigeria, Abiola's assets included Concord
Press, Abiola Bookshop, Abiola Press, Summit Oil, RCN, his shares in ITT,
now Alcatel and some other companies. Inside sources said the Islamic method
may be used, whereas, two-thirds of the returns from the assets will be
shared equally among the kids, while one third will go to charity. When P.M.
News tried to reach Dr. Doyin Abiola, and Mrs Bisi Abiola two of the wives,
they were said to be in Saudi Arabia performing the lesser Hadj.
By Our Reporters
Copyright 1999 P.M.. News. Distributed via Africa News Online