Mobolaji Bank Anthony Family Clarifies Legal Tussle over Late Scion’s Estate

…Disowns Queen Irene Cole as trustee

Rebecca Ejifoma

The family of the renowned philanthropist, Sir Mobolaji Bank Anthony, has clarified the issues surrounding the estate of the late scion.

This was just as they categorically disowned Queen Irene Cole, whom they described as “a self-styled Executive Trustee” of the multi-billion dollar estate of Bank Anthony.

Recently, Cole hosted a press conference where she told the media that as an “executive trustee” of the late Bank Anthony’s Estate, she was collaborating with his family to recover the estate worth over $50billion from some banks and registrars.

According to her, the banks and registrars allegedly connived to deprive the statutory beneficiaries of the will of their entitlement.

But at a press conference last Thursday at Mike Okiro Press Centre, Ikeja Lagos, the Mobolaji Bank Anthony family firmly told journalists that “Queen Irene Cole and her cohorts are not known to the family”.

According to a grandson of Bank Anthony, Mr Babatunde Bank Anthony, “Sir Mobolaji Bank Anthony, at the time of his death in 1991, left a clear and comprehensive last will which depicted his last wishes. 

“His last will stated that his estate is governed and run by a list of his chosen trustees. This list did not include anyone named Queen Irene Cole nor did it include some of her partners.”

He added that he and his family do not know Cole and her cohorts, who have spent the last couple of years attempting to insert themselves in the estate and properties of the late Bank Anthony.

Babatunde, who spoke with journalists on zoom from London, noted that Cole has continued to claim her relationship to the Bank Anthony family and has through various methods obtained a court judgement which is currently being legally challenged by the family and the estate.

The grandson emphasised: “It has been brought to our notice that Queen Irene Cole and some of her partners have been using this court judgement in an attempt to access estate funds and engage with property developers.

“We, the family, are using this medium to inform everyone that Queen Irene Cole does not have the permission or the authority to represent the Bank Anthony family and anyone who enters into any business transaction with her in regards to the Bank Anthony Estate does so at their peril.”

Babatunde, however, described the press conferences organised by Cole concerning Bank Anthony Estate as full of fallacies and misleading.

He further cited a newspaper publication where Cole claimed to be a godmother of a beneficiary. Babatunde, however, admitted that Funmiade Bank-Anthony, who has been associating with Cole is a grandchild of Mobolaji Bank Anthony but not a statutory beneficiary from the will.

Another grandson, Mohammed Akintunde, also conceded to journalists that Cole is a godmother to Funmiade. “Sometime in 2020, Cole had invited Funmiade and me to Sheraton Hotels where we were both persuaded to accept her becoming Trustees to our late grandfather’s estate.”

While Funmiade was said to have consented to the request, Akintunde rejected it with the contention that such a proposal could not fly without the consent of Mobolaji Bank Anthony’s children and the larger family.

According to Akintunde, Cole later procured a Lagos High Court document purporting him as one of the Trustees of the late Bank Anthony’s Estate. This, he claimed, was in an attempt to have access to the Estate’s accounts. 

Akintunde was later said to disclaim his inclusion when Bank Anthony’s family took the matter to court.

In the disclaimer dated 30th September 2020 (copies of which were made available to the press), Akintunde expressly stated that he was not aware of the act perpetuating that “I should become the new said trustee of the estate of the late Sir Mobolaji Bank Anthony.

“I am a law-abiding citizen of Nigeria and also one of the grandsons of the late philanthropist Sir Mobolaji Bank Anthony. I would like the court to verify all necessary documents from Irene Cole where and time I sat down to sign the document that warrants me Mr Mohammed Abubakar Akintunde to be a legal trustee of the said Estate”.

The eldest grandchild of the late philanthropist, Fumilayo Bank Anthony who spoke via zoom, said she is a beneficiary in the will while Funmiade is not like some other grandchildren.

The family has disclosed that the case relating to the estate was still in court. They pointed out that Cole and her allies initially got a judgement due to improper disclosure of facts to the court during the filing process. “The name of a beneficiary has been altered to match the name of one of the beneficiaries stated in the will. 

“They have tried everything and anything possible to try to get their hands on the funds of the Estate. The judgement they are parading around is dated 5th August, 200 but subsequently, the case was referred to the Court of Appeals on 5th November, 201. A Notice of Appeal has been put forward and we are presently waiting for an Appeal date”, Babatunde explained.

He added that Cole and her partners hope they can get to the funds of the estate before an Appeal hearing but “We as a family will ensure they will not succeed”.

Meanwhile, it was gathered that after addressing the press in May this year, Cole and her partners have held meetings with some of the registrars to strengthen issues relating to the funds.