Reports
Oke-Ado Family House Sale: Last Born Rejects Deal, Demands N11m Share
By Joseph Sunday
The sale of a family house at No. 7, Odutola Road, Oke-Ado, Ibadan, has continued to divide members of the Adeaga family in Ibadan, Oyo State.
Prince Oluyinka Adeniyi Adeaga, who identifies himself as the last born of the family, has dissociated himself from the transaction, insisting it was done without his consent.
“I’ve never for any day agreed to the sale of my father’s house at Oke-Ado, not to talk of repair of Oke-Dada house. Please go through the documents to show where my name and signature is. It was sold without my consent,” he said.
According to documents cited by him, the property was sold for N53 million. A family source said Prince Oluyemisi Adeaga had informed him that N3 million was paid as agency fee, leaving a balance of N44 million to be shared among four siblings at N11 million each.
Prince Yinka alleged that he has not received any payment till date. He vowed not to enter into any settlement with Prince Oluyemisi Adeaga unless his dignity as a legitimate member of the family is restored, a proper account is rendered and his full entitlement plus accrued interest is paid into his corporate account.
He also rejected any plan to use part of the proceeds to renovate the family house at Oke-Dada, arguing that the house belongs to all members of the Adeaga family and not only to their mother.
“If there would be any renovations, all members of the Adeaga family consisting of seven children from three mothers would agree and contribute, not only the children of my mother. This everyone knows, including Yemisi himself,” he said.
He further rejected a demand that he swear an affidavit to prove his membership of the family, describing it as embarrassing and demeaning. He recalled that he had renovated the same Oke-Dada house while their parents were alive for their comfort.
In a solicitor’s letter dated April 20, 2026, addressed to Mr. Oluyemisi Adetayo Adeaga, counsel to Prince Yinka Adeaga demanded immediate payment of N11 million into his client’s company account within seven days, threatening criminal charges of stealing and conversion. The letter added that further delay would attract interest at the approved Central Bank of Nigeria lending rate.
In his response, Prince Yemisi Adeaga denied holding N11 million belonging to Yinka.
“Mr. Yinka Adeaga does not have N11 million with me. The proceeds from the property were paid into my account in trust for the family to ensure proper accountability and management,” he said.
He insisted that any legitimate claim should be formally presented in writing, preferably through a sworn declaration, and discussed at a properly constituted family forum.
A family source who pleaded anonymity said there have been no significant renovations at the Oke-Dada house, which sits on a half plot of land and contains seven rooms. The source described the renovation claim as a ploy to deprive other siblings of their entitlement and avoid accountability.
The source further alleged that one of the four siblings is deceased and that Yemisi only gave N700,000 each to nine children, totaling N6.3 million, out of the N53 million realized from the sale.
“Despite the fact that my name was not on the property sold, after I was appealed to and I accepted, my N11 million has still not been paid till October 30, 2026. Why was it not paid if not that Yemisi Adeaga is of nefarious character?” Yinka queried.
As of press time, efforts to get further details from the parties were unsuccessful.