Bode Akindele facts for kids

Bode Akindele (born June 2, 1933 – died June 29, 2020) was a very successful Nigerian businessman. He held the important traditional title of Parakoyi of Ibadanland. He was known as one of the richest people in Nigeria.

Bode Akindele started and led the Madandola Group. This was a large company that worked in many different areas. These included shipping, making products, real estate (buying and selling land and buildings), and making flour. The main office for his company was in the United Kingdom.

Early Life and School

Bode Akindele was born in Ibadan, a city in the southwestern part of Nigeria. His father, Joshua Laniyan Akindele, worked as a Chief Tax Clerk. His mother, Rabiatu Adedigba, was a successful and well-known trader from Ibadan. She was the first woman from Ibadan to travel to Mecca for a religious journey.

He started his schooling at Olubi Memorial School in Ibadan. Then, he went to Lisabi Grammar School in Abeokuta for his higher studies. He wanted to go to Abeokuta Grammar School or Baptist Boys' High School with his friends. However, he could not get in.

After finishing secondary school, he traveled to the United Kingdom to study law. But Bode Akindele was more interested in starting his own business. He used the money given for his school and passport to buy a sewing machine. He later sold this machine for a good profit.

In 1952, he got his first job as a secretary. He later became a manager trainee at the United Africa Company (UAC). He then moved to the Western Nigerian Union of Importers and Exporters.

Business Success

Bode Akindele owned the Fairgate Group, a major international company. This company focused on real estate and property. He registered his first company when he was just 20 years old. He bought and sold goods from all over the world. This included medicines he got from a pharmacy in Lagos.

He later bought land in Agege, a part of Lagos State. There, he built a large warehouse. He used this warehouse to store and sort cocoa. He then became a shipping agent. He rented ships in London, using his old school connections. He worked with the National Bank of Nigeria to pay for his deals.

Akindele made a big business move in 1993. He bought a Swedish company that made matches. He later closed this company. This gave him control over a large part of the world's match market. He became the single largest controller of over one-third of the world's matches.

He also owned one of Nigeria's biggest local companies, the Madondola Group of Companies. This group worked in many areas. These included making products, real estate, shipping, and farming. He also set up the Fairgate Group. This top international company deals with real estate and property. Its main office is in Bond Street in London. The company owns many properties across the country. Some of these are rented by big UK stores like Asda, Walmart, and Sainsbury's.

Death

Bode Akindele passed away on Monday, June 29, 2020. He was 87 years old. He died at his home in Apapa, Lagos.