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. we recently gathered the names and a little background information on the wealthiest lawyers in Nigeria.
1. Tunde Folawiyo
Tunde Folawiyo has been featured on Forbes Magazine 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.
Tunde was previously a Non-executive Director of Access Bank Plc (formerly Access Bank Nigeria) from 11 October 2005 – January 29, 2014. He was called to the Bar of England and Wales in 1985, where he started his law practice in Nigeria with the firm Ogunsanya, but resigned from law in 1989. Since 1996, Tunde has also served as the Vice President of Nigeria Association of Indigenous Petroleum Explorers & Productions (NAIPEC).
2. John Olatunde Ayeni
John Olatunde Ayeni is also the chairman of Skye bank and worth millions of dollars 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
Ogunsanya who is the chairman of Multichoice Nigeria is also on the board of Heritage Bank 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 once contested for governor of Ondo state 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 is the founder of one of Nigeria’s most popular universities named after him 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
Wole Olanipekun was once the president of the Nigerian Bar association 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 who holds a minority share in MTN is a media darling 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.
8. Mr. Wale Babalakin SAN
Mr. Babalakin is a managing partner in the law firm of Babalakin and co. He is also the chairman of several Nigerian companies. His company built the famous MMA2 in Lagos and was initially granted the contract to reconstruct the Lagos-Ibadan expressway until it was revoked in November 2012. Mr. Babalakin is worth an estimated $80 million and is consistently ranked as being one of the richest Nigerians.
9. Dr. Konyinsola Ajayi SAN
Dr. Konyinsola Ajayi, SAN serves as Managing Partner of the law firm of Olaniwun Ajayi and is a Senior Advocate of Nigeria. Dr. Ajayi has been a legal counsel in Nigeria since 1980 and has over 25 years legal expertise in Energy and Natural Resources, International Business Transactions, Banking, Capital Markets, Construction and Engineering, Privatisation as well as Litigation and Arbitration. He is a Board member at Dangote Sugar Refinery PLC. He is worth an estimated $25 Million.
10. Chief Joe Kyari Gadzama SAN
He is a managing partner in the law firm of JK Gadzama & Partners, a firm he founded. He contested and lost the 2016 Nigerian Bar Association Presidential Election. He has an estimated net worth of $15 Million.
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