Renowned Senior Advocate of Nigeria (SAN), Aare Afe Babalola, recently shared fascinating insights into his legal career, revealing details about some of his most remarkable cases during an interview with radio host Daddy Freeze.
In the interview, Babalola disclosed that he charged a staggering $30 million for his instrumental role in helping the government recover $300 million from banks. The legal luminary emphasized that the client had the right to pay the fee in either dollars or its equivalent in naira.
Babalola also recounted a case involving Mobil, where he charged the company $5 million for an appeal case he handled in the 80s. Despite their initial resistance to his fee, Mobil eventually returned to him after another SAN in Lagos charged them N500,000 and lost the case. Babalola not only secured a victory for Mobil but also maintained a lasting client relationship.
Delving into larger legal fees, Babalola reminisced about a deal with the government. In this particular case, he agreed to a 10% commission for the recovery of $300 million from a syndicate of banks embroiled in a dispute with the government. His success in securing the substantial amount further solidified his reputation as a legal powerhouse.
Afe Babalola’s revelations offer a glimpse into the intriguing world of high-stakes legal battles and underscore the strategic negotiation skills that have defined his illustrious legal career.