The legal profession in Nigeria is not only prestigious but also highly lucrative, especially for those who have carved out successful careers. Many of the top legal minds in the country have earned considerable wealth not just through their legal practices but by diversifying into other areas such as politics, business, and academia. Below is an in-depth look at the top 20 richest lawyers in Nigeria, their legal journeys, achievements, and how they have amassed their fortunes.
1. Afe Babalola – $350 Million
Afe Babalola, CON, OFR, SAN, is widely regarded as one of the most influential lawyers in Nigeria. He is the founder of Afe Babalola University, one of the top private institutions in the country. Despite his enormous success in education, Afe Babalola still actively practices law, distinguishing himself through his significant contributions to Nigeria’s legal system. Over the years, he has earned respect for his tireless defense of justice, often representing those without a voice in the legal system.
Babalola, a legal icon, hails from Ekiti State and studied law at the University of London. His law firm, Afe Babalola & Co, is one of the largest and most successful in Nigeria. His estimated net worth of $350 million comes not only from his legal practice but also from his business ventures in education and agriculture, as he is one of the largest farmers in Nigeria. His legacy continues to grow as one of the wealthiest and most respected figures in Nigeria’s legal and academic circles.
2. Babatunde Folawiyo – $650 Million
Babatunde Folawiyo is not just a lawyer but also a successful businessman, with a fortune that spans multiple industries. He studied at the London School of Economics and obtained his law degree from the University of London. He currently heads the Yinka Folawiyo Group, a diversified conglomerate that operates in various sectors, including oil and gas, shipping, real estate, and agriculture.
Folawiyo’s wealth stems largely from the business empire he inherited from his father, the late Wahab Iyanda Folawiyo, but he has expanded the family legacy significantly. His group of companies includes entities like Folawiyo Petroleum, Folawiyo Energy, and United Property Developers Company Limited. His net worth, estimated at $650 million, places him firmly among the top wealthiest lawyers in Nigeria.
3. Abubakar Malami SAN – $500 Million
A former Federal Minister of Justice and Attorney General of Nigeria, Abubakar Malami SAN is one of the most renowned legal minds in the country. His legal career started at the state level, where he quickly distinguished himself before rising to national prominence. Malami, who studied at Usmanu Danfodiyo University and the University of Maiduguri, was called to the Nigerian Bar in 1992 and became a Senior Advocate of Nigeria (SAN), the highest rank in the Nigerian legal profession.
In addition to his legal career, Malami’s involvement in politics has been highly lucrative. His wealth, estimated at $500 million, comes from his vast investments in real estate, oil and gas, and other business ventures, making him one of the wealthiest lawyers in the country.
4. John Olatunde Ayeni – $600 Million
John Olatunde Ayeni is a legal practitioner who has not only made a name for himself in the legal profession but also in the business world. Born in Kogi State, Ayeni attended Ahmadu Bello University and was called to the Nigerian Bar in 1991. Over the years, Ayeni has served as legal counsel to several major corporations in Nigeria.
His net worth of $600 million is largely attributed to his involvement in banking and telecommunications. He is a key stakeholder in several high-profile companies, including Skye Bank, where he was a major investor, and he has diversified into real estate and technology. His philanthropic work, especially in his home state of Kogi, further cements his status as a major influencer in Nigeria’s legal and business sectors.
5. Wale Babalakin SAN – $260 Million
Wale Babalakin is a Senior Advocate of Nigeria (SAN) who is also a businessman with interests in construction and aviation. A graduate of the University of Lagos, Babalakin has used his legal acumen to build a thriving career in business. He is the Chairman of Bi-Courtney Limited, a company involved in several major infrastructure projects in Nigeria, including the Murtala Muhammed Airport Terminal 2 in Lagos.
Babalakin’s legal practice has also been highly successful, with his firm handling high-profile corporate and litigation cases. His estimated net worth of $260 million stems from his diverse business interests, making him one of the wealthiest lawyers in Nigeria.
6. Adewunmi Ogunsanya SAN – $250 Million
Adewunmi Ogunsanya is a Senior Advocate of Nigeria and one of the most prominent lawyers in the entertainment industry. He is the Chairman of MultiChoice Nigeria, the company behind the popular DStv satellite television service. Ogunsanya’s career in law began after he studied at the University of Kent in the UK and qualified as a lawyer in Nigeria.
His net worth, estimated at $250 million, comes from his legal practice and his leadership role at MultiChoice. Under his guidance, the company has grown into a multi-billion-dollar entertainment giant, and Ogunsanya’s strategic business acumen has earned him a reputation as one of Nigeria’s wealthiest legal practitioners.
7. Jimoh Ibrahim – $200 Million
Jimoh Ibrahim is a lawyer, businessman, and politician with a net worth of around $200 million. He holds degrees in law and public administration from Obafemi Awolowo University and earned a Master’s degree from Harvard University. Ibrahim is best known for his business ventures, which span multiple industries, including oil and gas, insurance, and hospitality.
Ibrahim is also a practicing lawyer, although his wealth primarily comes from his businesses. His investments have made him one of the richest lawyers in Nigeria, with his business empire continuing to grow both within the country and internationally.
8. Femi Falana SAN – $80 Million
Femi Falana is one of Nigeria’s most well-known human rights lawyers and activists. A Senior Advocate of Nigeria, he has represented numerous clients in high-profile cases involving civil rights violations. Falana, who earned his law degree from Obafemi Awolowo University, is also the father of popular Nigerian musician Falz, further increasing his prominence in public life.
Falana’s legal career, which includes several landmark cases in human rights, has made him one of Nigeria’s wealthiest lawyers, with a net worth of $80 million. He continues to advocate for justice and human rights, both in Nigeria and internationally.
9. Wole Olanipekun SAN – $122 Million
Wole Olanipekun is a former President of the Nigerian Bar Association (NBA) and a Senior Advocate of Nigeria with a long and illustrious career in the legal field. Born in Ekiti State, Olanipekun has played a significant role in shaping Nigeria’s legal landscape. His practice focuses on corporate law, litigation, and constitutional law.
With a net worth of $122 million, Olanipekun has also been involved in business, but his wealth is primarily derived from his legal career. His contributions to Nigeria’s legal system have been immense, and he remains one of the most respected legal minds in the country.
10. Gbenga Oyebode – $120 Million
Gbenga Oyebode is the co-founder of Aluko & Oyebode, one of Nigeria’s most prominent law firms. His legal career has focused on advising multinational companies in sectors such as oil and gas, aviation, and telecommunications. A graduate of Obafemi Awolowo University, Oyebode also holds a Master of Laws degree from the University of Pennsylvania.
Oyebode’s estimated net worth of $120 million stems from his legal practice and his involvement in corporate governance, having served on the boards of several major companies in Nigeria. His firm’s extensive client list includes some of the largest corporations in Africa, making him one of the wealthiest and most influential lawyers in the country.
11. Kayode Sofola SAN – $5.7 Million
Kayode Sofola, SAN, is a distinguished lawyer and founder of the prestigious law firm Kayode Sofola & Co. With an illustrious career that spans several decades, Sofola has served as a legal adviser to some of Nigeria’s largest corporations and institutions. His wealth, estimated at $5.7 million, is a reflection of his success in the legal field and his investments in various sectors.
In addition to his legal career, Sofola has served as the chairman of United Bank for Africa, a role that has significantly contributed to his financial success. His influence in both law and business makes him a key figure in Nigeria’s legal landscape.
12. Lateef Fagbemi SAN – $200 Million
Lateef Fagbemi, SAN, is a renowned lawyer specializing in constitutional and commercial litigation. With over three decades of experience, Fagbemi has been involved in several landmark legal cases in Nigeria, particularly in election petitions and constitutional matters. His legal expertise has earned him a reputation as one of Nigeria’s most sought-after advocates.
In 2023, Fagbemi was appointed the Attorney General of the Federation and Minister of Justice, a prestigious position that further cements his status as a leading figure in Nigeria’s legal and political spheres. His estimated net worth of over $200 million is largely attributed to his legal practice and his investments in real estate and other business ventures.
13. Yusuf Olaolu Alli SAN – $200 Million
Yusuf Olaolu
Alli, SAN, is a well-respected legal practitioner with expertise in commercial and constitutional law. He has represented numerous clients in high-profile cases, earning a reputation as one of Nigeria’s top lawyers. With over 30 years of experience in the legal profession, Alli has built a successful law firm that handles both local and international cases.
Alli’s wealth, estimated at over $200 million, comes from his legal practice as well as his investments in real estate and other business ventures. He is also known for his philanthropic efforts, particularly in the areas of education and healthcare.
14. Olisa Agbakoba SAN – $5.5 Million
Olisa Agbakoba, SAN, is a renowned human rights lawyer and maritime law expert. As the founder of the Nigerian Civil Liberties Organisation (CLO), Agbakoba has been a vocal advocate for civil rights and social justice in Nigeria. He has also played a significant role in developing Nigeria’s maritime law, making him a key figure in this area of legal practice.
Agbakoba’s wealth, estimated at $5.5 million, is a result of his successful legal career and his involvement in maritime law. His contributions to human rights and the legal profession have earned him widespread recognition both in Nigeria and internationally.
15. Chief Joe Kyari Gadzama SAN – $15 Million
Chief Joe Kyari Gadzama is a Senior Advocate of Nigeria with over three decades of experience in the legal profession. Gadzama is known for his expertise in arbitration and litigation, having represented numerous high-profile clients in both local and international legal matters. He is the founder of J-K Gadzama LLP, one of the leading law firms in Nigeria.
With a net worth of $15 million, Gadzama has built a successful legal career while also contributing to the development of arbitration and dispute resolution in Nigeria. His firm is renowned for handling complex legal cases, and Gadzama himself is considered one of the top legal minds in the country.
16. Ahmed A. Raji SAN – $10 Million
Ahmed A. Raji, SAN, is a distinguished lawyer with expertise in litigation, arbitration, and telecommunications law. He has represented clients in a wide range of legal matters, including election petitions, commercial disputes, and constitutional cases. Raji’s legal career has spanned several decades, during which he has built a reputation as one of Nigeria’s top lawyers.
Raji’s wealth, estimated at $10 million, comes from his successful legal practice and his involvement in various business ventures. His dedication to the legal profession and his expertise in complex legal matters have earned him widespread recognition in Nigeria’s legal community.
17. Olumide Akpata – $5 Million
Olumide Akpata is a lawyer and former President of the Nigerian Bar Association (NBA). Akpata, a graduate of the University of Benin, has built a successful career in corporate law, specializing in mergers and acquisitions, capital markets, and commercial law. He is a partner at Templars, one of Nigeria’s leading law firms, and has represented numerous multinational companies in high-profile legal matters.
Akpata’s wealth, estimated at $5 million, is a result of his legal career and his leadership role within the NBA. During his tenure as NBA President, Akpata advocated for reforms within Nigeria’s legal system, earning him a reputation as a progressive leader in the legal profession.
18. Joseph Nwobike SAN – $3 Million
Joseph Nwobike, SAN, is a Senior Advocate of Nigeria with a successful legal career that spans over two decades. Nwobike has represented clients in a wide range of legal matters, including commercial disputes, election petitions, and constitutional law cases. He is known for his commitment to legal ethics and professionalism, which has earned him respect within Nigeria’s legal community.
Nwobike’s wealth, estimated at $3 million, comes from his legal practice and his investments in real estate and other business ventures. Despite facing legal challenges in recent years, Nwobike remains one of Nigeria’s most respected legal practitioners.
19. Ricky Tarfa SAN – $4.6 Million
Ricky Tarfa, SAN, is a renowned Senior Advocate of Nigeria with a successful legal career that spans over three decades. Tarfa has represented clients in numerous high-profile cases, including constitutional law, human rights, and commercial litigation. He is the founder of Ricky Tarfa & Co, a leading law firm in Nigeria that specializes in litigation and dispute resolution.
Tarfa’s wealth, estimated at $4.6 million, is a result of his successful legal practice and his involvement in various business ventures. Despite facing legal controversies in recent years, Tarfa remains one of Nigeria’s most respected legal practitioners.
20. Bayo Ojo SAN – $10 Million
Bayo Ojo, SAN, is a former Attorney General of Nigeria and a Senior Advocate of Nigeria with a distinguished legal career. Ojo has represented clients in a wide range of legal matters, including commercial disputes, election petitions, and constitutional law cases. He is also a founding partner of Bayo Ojo & Co, one of Nigeria’s leading law firms.
Ojo’s wealth, estimated at $10 million, comes from his legal practice and his involvement in various business ventures. His contributions to Nigeria’s legal system, particularly in the areas of arbitration and dispute resolution, have earned him widespread recognition in the legal community.
These lawyers have not only succeeded in their legal practices but also in various business ventures, demonstrating the immense opportunities available to those who excel in the legal profession. Their wealth and influence continue to shape Nigeria’s legal, political, and business landscapes.
