While growing up, there were usually three professions extolled by the average Nigerian parent. They either wanted their children to be doctors, engineers or lawyers. Sometimes this dream did not come to pass.
Why a lawyer? The favorite reasons were and still are: money, power and the prestige that come with having a lawyer as a child. Apparently, there is money in the law profession.
NAIJ recently gathered the names and a little background information on the wealthiest lawyers in Nigeria. Below are their names according to a website on law and lawyers in Nigeria known as Lawrepository.
1. Tunde Folawiyo
Mr Tijani Babatunde Folawiyo popularly known as Tunde Folawiyo is a lawyer and a businessman. He is the managing director of Yinka Folawiyo Group and director of MTN Nigeria. According to Forbes, he has an estimated net worth of $650 million.
2. John Olatunde Ayeni
John Olatunde Ayeni was born on April 4, 1967. He is a Nigerian lawyer, investor and business magnate. He holds board positions on companies throughout Nigeria.
In 2011, Ayeni became chairman of Skye Bank, which was formed in 2005 when five commercial banks merged to create a new entity with a balance sheet in excess of ₦1 trillion. He is currently worth about $600 million.
3. Adewumi Ogunsanya SAN
Mr Ogunsanya is a managing partner in the law firm of Ogunsanya & Ogunsanya and he is one of the newest senior advocates in Nigeria.
He is also the chairman of several companies like Smile Nigeria, Trocadero Group of Companies, Multichoice Nigeria and a host of others.
Mr Ogunsanya who is a board member of Heritage Bank is reportedly worth over over $250 million.
4. Barrister Jimoh Ibrahim
Jimoh Ibrahim was born on February 24, 1967, same year as Mr Ayeni. He is a lawyer, politician, businessman, and philanthropist.
He is the chairman of Global Fleet Group, which controls such companies as Air Nigeria, NICON Insurance, Nigeria Reinsurance Corporation, NICON Luxury Hotel, formerly Le’ Meridien Hotel and about 8 others. He is reportedly worth about $200 million.
5. Aare Afe Babalola
Afe Babalola SAN, OFR, CON, born 1929, is the founding partner of Afe Babalola & Co (Emmanuel Chambers), one of the largest law firms in Nigeria.
He is also the founder of the popular Afe Babalola University. He has an estimated net worth of $150 million.
6. Wole Olanipekun
Mr Wole Olanipekun SAN, is a former President of the Nigerian Bar Association (NBA) in 2002 and the managing partner of Wole Olanipekun & Co, a firm he founded.
With litigation costs running into several millions of dollars, Mr. Olanipekun is worth an estimated $122 million.
7. Gbenga Oyebode MFR
Gbenga Oyebode is a founder and managing partner of Aluko & Oyebode who also owns a minority shareholding in MTN Nigeria, and sits on the company’s board.
He has an estimated net worth of $120 million and was the former chairman of Access Bank PLC and the current chairman of Okomu Oil and Crusade Insurance.