The crisis rocking the management of Radio Communication Nigeria Limited(RCN), one of the companies owned by the acclaimed winner of June 12, 1993 election, late M.K.O Abiola has resulted into legal war.
Two administrators and personal representatives to the Estate of the deceased business mogul, Boma Alabi,Timothy Hugh Daniel, alongside two children of M. k. O. Abiola-Olamilekan Abiola, Aliu Abiola and Radio Communication Nigeria Limited Company have dragged three other children, Kolalwole Olatokunbo Abiola, Agboola Si-nurudeen Abiola, Adedeji Shamusedeen Abiola and corporate Affairs Commission before a Federal high court sitting in Lagos, Southwest Nigeria.
Olamilekan Abiola and Aliu Abiola are suing along side other plaintiffs for themselves and on behalf of other children and beneficiaries to the Estate of late MKO Abiola, while Agboola Si-Nurudeen Abiola, Adedeji Shamusedeen Abiola are sued jointly and as individual as purported Directors of Radio communications Nigeria Limited.
In an affidavit sworn to by a legal practitioner, Boma Alabi and filed before the court by a Lagos lawyer, Ifedayo Adedipe SAN, Boma averred that pursuant to the High Court of Chancery order of 7 July, 2010, herself and the second Plaintiff, Timothy Hugh Daniel were appointed professional administrators and personal representatives to the estate of Chief M.K.O Abiola
He said M.K.O Abiola was the founder and largest shareholder of Radio Communication Nigeria Limited, in his lifetime and that the radio RC(.10354) was duly registered as a company under Part A of the Companies and Allied Matters Act 2004 in 1972 with Registered Office address at No. 38, Concord Way Muritala Muhammed Way, International Airport, Ikeja, Lagos State.
He said the company was incorporated with two Directors; Chief MKO Abiola (deceased) and his wife, Late Simbiat Abiola with 99% of the shares allocated to himself and 1% to his said late wife.
Boma said the Share Capital value of the company at incorporation was five million shares (5,000,000), with a total of 4,999,999 ordinary shares at N1 per unit allotted to the late Chief M.K.O Abiola and one share was allotted to late Alhaja Simbiat Atinuke Abiola.
“Chief M.K.O Abiola and Alhaja Simbiat Atinuke Abiola continued to act as Directors of the company until their demise. The first director, Chief M.K.O Abiola died on 7th July, 1998, however the second director and subscriber predeceased the first director following her death earlier in time.
