Alakija's collaboration with Herbert Macaulay and Egerton Shyngle early in his political career brought him prominence but after falling out with Macaulay and because of his moderate political views, his popularity began to wane until the early 1950s when he had begun to develop favour in the eyes of the public.

[5] He later studied at Oxford University in the early 1930s, and became an ardent proponent for the provision of tertiary education to Nigerians during the colonial period.

After finishing his secondary education, Alakija started work in the post office in 1900 and served in the civil service for ten years.

Sir Adeyemo Alakija was a newspaper entrepreneur who co-founded the Daily Times of Nigeria with Ernest Ikoli and Richard Barrow, who was the president of the Lagos Chamber of Commerce.

Towards the end of his life it culminated in his ascending to the aristocracy of his tribe, as he was created the Bariyun of the Ake Lineage of Egbaland and the Woje Ileri of Ile-Ife.

In Nigeria, he embraced some traditional elements of Yoruba socio-political and religious history when he co-founded the Reformed Ogboni Fraternity and became the Olori Oluwo, or "Grandmaster", of the brotherhood.

As a member of the confraternity, he introduced the use of masonic symbols inside the organization, such as the unblinking eye on an inverted V and three vertical shapes.

One of his sons, Babatunde, was a British Public School High Jump champion and one of the first Africans to be enrolled for training as a pilot.

[10] Another son, Oluwole Ayodele Alakija, was the former president of WASU in London and a member of Egbe Omo Oduduwa.