The Chairman of Madandola Group and the Parakoyi of Ibadanland Chief Bode Akindele, is dead.
Akindele, who was a successful entrepreneur and philanthropist, died in his Apapa, Lagos home on Monday at the age of 88 years, according to a reliable source.
Born on June 2, 1932, his father, Pa Joshua Laniyan Akindele, was a Chief Tax Clerk for the entire defunct Western Region, a position that can be equated to that of the Chairman of the Inland Revenue today. His mother, Rabiatu Adedigba, was a wealthy Ibadan trader who was politically influential. Alhaja Rabiatu was the first woman to go to Mecca in Ibadan.
Chief Akindele’s business empire operates under the name Modandola Group Of Companies, named after his mother, which translates to ‘God, if you give me the wealth, give me a child that can take care of it.’ Madandola Group spans from maritime to properties, manufacturing, real estates, investments, finance and flour milling with its headquarters in the United Kingdom.
The Fairgate Group, (a company owned by Chief Akindele, located on Bond Street, London, England), deals mainly in properties. Some of its tenants include giant retail stores such as Sainsbury and Asda supermarkets. As at the last quantification, the Fairgate Group was said to be worth over £1billion.
Among the subsidiaries of the Madandola Group Standard Breweries, Ibadan, Diamond Foods Ltd, Ibadan, United Beverages Ltd, Ibadan, Associated Match Industry, Ibadan, merged with Ilorin, Port-Harcourt and Lagos to form a company with a large share of the Nigerian market and Standard Flour Mills in Lagos.