A Federal High Court sitting in Abuja has approved alternative dispute resolution in a long-standing corporate legal battle between the estate of late High Chief Gabriel Akin-Deko and Solel Boneh Nigeria Limited.
According to Ripples Nigeria, the court gave the green light for the parties to pursue an out-of-court settlement, setting up an initial mediation session to review the opposing claims. The move provides a platform for both sides to explore an amicable agreement outside traditional courtroom proceedings.
The dispute centres on claims brought forward by the estate of Akin-Deko, who served as the Minister of Agriculture in Nigeria's former Western Region. The estate contends that the late minister owned a 30 per cent equity interest in Solel Boneh Nigeria Limited, which it values at N2 billion.
In the petition, originally instituted in May 2022 under suit number FHC/ABJ/PET/38/2022, the estate alleged that Solel Boneh's assets, machinery, contracts, and business goodwill were transferred to Reynolds Construction Company Nigeria Limited. The family claimed that this transfer weakened and eroded the worth of its original investment.
The lawsuit also names several entities tied to the broader international corporate network, including Shikun & Binui and SBI International Holdings AG. Israeli business personalities Shari Arison and Naty Saidoff are also listed as parties connected to the matter.
Solel Boneh Nigeria Limited played a notable role in public works and civil engineering projects during the infrastructural push in the former Western Region. The core issue before the mediators revolves around how the estate’s purported shares were handled amid reorganisations and asset movements across linked companies.
All allegations raised by the estate remain contested and have not been affirmed by any court ruling. The upcoming mediation sessions will gather the representatives to evaluate the disputed holdings and determine whether a financial resolution can be reached.
