michael ibru

Barely six months after patriarch of the Ibru clan and billionaire, Michael Ibru passed on, peace seems to have eluded the Ibru family. Multiple court cases have been filed by his children over assets he left behind.

Leading one camp of the family, is Oboden Ibru. Oboden Ibru is a former executive director of Oceanic Bank (now Ecobank) and Aerocontractors (which has been taken over by AMCON). He has asked a federal high court to appoint an auditor to verify his late father’s assets and divide them equally among all 16 children.

On the other side of the argument is Janet Ibru, who in a counter-suit wants beneficiaries of the estate to be those who scale through the results of a DNA test. She also seeks a refund of her expenses on their father in the last year of his life.

While all these law suits fly around, various parts of the Ibru empire continue to suffer. Aerocontractors is under AMCON control. Ikeja Hotels has made several losses for the last few years. Sun International, the operators of Federal Palace Hotel are also thought to have pulled out of their partnership with the Ibru Family.

For a family with a long history of enterprise and industry, everything seems to be crumbling around them. It appears from a distance that the younger generation seem not to be ready to uphold the Ibru legacy.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.


  1. Elders within and outside of the family should rally round to save the goodwill of the family. By nature, young men and women are becoming increasingly greedy and never wanting to cooperate with one another! Let peace rain supreme within the Ibru family. The legacy left behind by their parents should not be abused by these greedy children.

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