The immediate past President-General of the Central Council of Ibadan Indigenes (CCII), Prince Oluyemisi Adetayo Adeaga, is embroiled in a dispute with his siblings over the sale of their late father’s estate at Oke-Ado, Ibadan, for N53 million.
The property, a storey building comprising a cold room, mini-hall and shops, is located at No. 7, Odutola Road, Block 34, Plot D, Lagos Bye-Pass Layout, Ibadan. It sits on two plots of land belonging to the late Pa Joseph Babatunde Oyelakin Adeaga.
The estate was sold by Olukunle Aderemi Adeaga, acting on behalf of the family, to one Engineer Adeyeye Olusola Emmanuel for N53,000,000, as contained in a Sale Agreement dated March 19, 2026.
Prince Adeaga, who served as CCII President-General from 2023 to 2024 and is the current National President of the Nigerian Red Cross Society, is at the centre of the crisis.
His siblings allege that the entire proceeds of the sale were paid into his personal bank account instead of a dedicated family account, and that he has since withheld the funds, contrary to an earlier understanding to share the money equally among the four surviving children of the deceased.
Prince Adeaga has denied any wrongdoing. In a message to the family on April 9, 2026, he said the money was paid into his account in trust to ensure accountability, and that any legitimate claim to the funds should be presented formally in writing, preferably through a sworn declaration.
Family sources said efforts to recover the funds have proven abortive, as CCII chieftain evades all attempts to resolve.
