 Although Ikoli lost his seat in another by-election in 1946, the result was overturned following a lawsuit and Ikoli regained his membership of the Legislative Council.He ran in the general elections the following year, but withdrew his candidacy shortly before the elections.In 1951, Ikoli, along with Awolowo and their allies formed the Action Group, which was dedicated to promoting Yoruba interests in the wake of Nigerian Independence.