Family members are presently at war with the immediate past President-General of the Central Council of Ibadan Indigenes (CCII), Prince Oluyemisi Adetayo Adeaga over the sale of their ₦53 million estate left for them by their late father at Oke-Ado, Ibadan, the capital city of Oyo State.
According to reports, 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. The property that sits on two plots of land used to belong to late Pa Joseph Babatunde Oyelakin Adeaga.
PMParrot gathered that the estate was sold by Olukunle Aderemi Adeaga, acting on behalf of the family, to one Engineer Adeyeye Olusola Emmanuel for ₦53,000,000, as contained in a Sale Agreement dated March 19, 2026.
Our investigation confirmed that the man being accused of ‘unfairness’ is
Prince Adeaga, who served as CCII President-General from 2023 to 2024 and is the current National President of the Nigerian Red Cross Society.
His siblings said 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.
However, when contacted by PMParrot, Prince Yemisi Adeaga denied the allegation.
His words, “this matter is simple. We all agreed to share ₦6.3 million each. And the remaining fund was earmarked to carry out repairs and re-construction of our main family house located at Oke Dada in the central part of Ibadan. Work is ongoing there as I am talking to you today, October 29th, 2026.
The former CCII boss also revealed that the only person that has not accessed his ₦6.3 million is Yinka Adeaga who is based in the United States of America.
“This is because he has some domestic issues and has not been able to forward his bank account. I am sure this will be sorted out any time from now”.
Packaged by Alice Egbedele
