There are no comments at the moment, do you want to add one? Investments Limited, Day Waterman Company Limited and Cariboo Investment Consequently, Babatunwa urged the court to dismiss the plaintiffs suit with substantial cost. Tayo Aderinokun died on the 14th of June, 2011. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The plaintiff, in her statement of claim filed before the court by her lawyer, Osaro Eghobamien, SAN of Perchstone and Graeys, stated that upon the death of her father, he gave legacies and bequests to his two wives and four children and her late father also appointed GTB Assets Management Limited (now Investment One Financial Services Limited) and Mr Babatunwa Aderinokun as joint Executors and Trustees, who were granted Probate on February 16, 2012. At the resumed hearing of the suit Tuesday, the seventh defendant, Investment One Financial Services Limited, one of the vehicles used by late Aderinokun, to acquire shares in GTBank, informed the court that it had filed an affidavit of facts before to assist the court in the judicious determination of the plaintiffs suit. I finished my MBA at UCLA and I came back to Nigeria. Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both On Wednesday, 31 July, 2002, the former Managing Director (MD), Tajudeen Fola Adeola, formally retired and handed over to Tayo, his Deputy of 12 years then. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. As a young banker,he . [3] Early life and education [ edit] What He Told City People Before He Died 6 Years Ago. Others respondents in the ensuing legal battle are From the running of his estate to the shares he had amassed from the bank he co-founded, Guarantee Trust Bank Plc. held in their names in GTBank, and paying any sum declared as dividends He proceeded to obtain a bachelor's degree in Business Administration from the University of Lagos, and much later, an MBA in International Business from the Graduate School of Management, University of California, Los Angeles in 1981. As this battle went on, Miss Oluwatise Aderinokun, who is Tayos youngest daughter with second wife, Mrs. Salamotu Aderinokun, adding to the heat, filed a lawsuit against GTBank. The banks total assets are also estimated to be worth over 4 trillion, according to the banks Q1 2021 unaudited results released in April 2021. his children. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. GTBank, held in the proxies names and in the name of her late father, Olutayo Legal battle lines have been drawn here and there. before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and MRS Oil Commissions Africas Largest JettyKachikwu, Fashola, Amaechi, Sarika, Enelamah, others, commend Dantata, hail facilitys computerisation scheme, Vanity fairBanking Czarinas, Bola Adesola and Sola David-Borha, shun peer vanities to outshine male rivals, Pomp and enchantment at Sir Molade Okoya-Thomas funeral, Debt and disease! At 56 years old, Tayo Aderinokun height not available right now. At the resumed hearing of the suit Tuesday, the He spent his childhood in Melbourne, and after completing his high school education, he moved and settled in the US.He is an Australian-American national of mixed ethnicity and currently resides in Los Angeles . LATE GTB GMD, MR TAYO ADERINOKUN. Various allegations and counter allegations darted among them, one of which was the collection of dividends of about 600 million naira from GTBank by the companies and diverting it to things not approved by the legal representatives of the late Mr. Aderinokun. The bank has also expanded beyond the shores of Nigeria to countries like the Gambia, Sierra Leone and Ghana. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. See Tayo Aderinokun's compensation, career history, education, & memberships. However, Justice Mohammed Idris has fixed this week for the hearing of the suit. Mr. His father was a technician who worked for the Nigerian Railway Corporation. Salamotu Aderinokun, The 2010 and 2009 best bank in Nigeria awards from the Banker Magazine, The 2010 and 2009 best bank in Nigeria awards from Euromoney Awards for Excellence, The SIAO 2009 and 2008 Best Corporate Social Responsibility Awards, The 2007 Most Respected Company in Nigeria Award from PrizeWaterhouseCoopers and Businessday. After his training at the ICAN Institute, he worked for some time in the public sector where he eventually rose to the position of the first Chairman of the National Pension Commission in Nigeria. Your email address will not be published. He was presented with the African Person of the Year award. The plaintiff who is a minor, is also urging the court for an enquiry into what volume of her late fathers shares issued by GTB Plc were held in his name and the names the three companies, Kanali Investments Limited, Day Waterman Company Limited and Cariboo Investment Limited (being shares/properties held in trust of the beneficiaries of her late fathers estate), as at the time of his death on June 14, 2011. Aderinokun who held a bachelors degree in Business Administration from the University of Lagos, and an MBA in International Business which he obtained in 1981 from the Graduate School of Management, University of California, Los Angeles, went on to serve as Adeolas deputy for the 12 years the latter held the position as the banks Managing Director between 1990 to 2002. proxies), as being entitled to the rights accruing to the shares issued by Fola Adeolas numerous awards include the award of membership at the National Institute of Policy & Strategic Studies (MNI) in Kuru, Jos in 1999, after completing a one-year Sabbatical at the university. Femi Otedola Wins African Person of the Year Once again, Africa's force of nature, billionaire Femi Otedola has been honoured for his philanthropic activities on the continent. And when they finally raised the required capital in 1988, they applied for a banking license which they got (licence 58) on the 2nd of August, 1990. Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. He further stated that none of them paid for the In Africa, the bank has expanded to Cote dIvoire, Gambia, Ghana, Liberia, Sierra Leone, Uganda, Kenya and Rwanda, including the United Kingdom. To complete the process, please follow the instructions in the email we just sent you. A Federal High Court in Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by Miss Oluwatise Aderinokun, the eight-year-old and last child of the late founder and former Managing Director of Guaranty Trust Bank Plc (GTB), Olutayo Aderinokun, against the bank and six others over alleged manipulation of her late father's By submitting above, you agree to our privacy policy. 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GTBank in the name of his corporate vehicles used as the proxies. shares neither do they participated in the management of the companies during Breaking: Nigerians Condemn Shells Plot to Smear Aiteo, Emir of Kanos Deposition: Why Former Access Bank MD, Aig-Imoukhuede, is the Worst Hit, OMSL to the RescueHow the Nigerian Company Rescued Chinese Vessel from Pirate Attack, So Sad How Coronavirus has Hampered the Nigerian, London and Dubai Socio-Economic Milieu, Femi Otedola Wins African Person of the Year, EXPOSED! In alleging overriding obligations and negligent disregard for her late fathers Will, the plaintiff stated that the Proxies after her late fathers death suddenly sought to act as independent entities, and issued instructions contrary to the subsisting instructions of her late father, and in total disregard for the authority of his personal representative/co-trustees. AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 500 news and information items daily from over 100 African news organizations and our own reporters to an African and global public. And a partnership, coupled with a dream and the zeal to bring it to reality, is a great way to shoot for the stars. We have estimated his lifetime but only him ran the affairs of the companies. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. Notify me of follow-up comments by email. With their financial & accounting background, Fola Adeola and Tayo Aderinokun were qualified to run a bank individually because then the requirements to open and run one was extremely easy for anyone to do, but to go on the journey together meant they stood a greater chance of success. She also averred that during the lifetime of her He was also the Chairman of the Lagos State Disaster Relief Committee, a team formed as a result of the January 27, 2002, Lagos bomb blast, and he is also a member of the Solid Minerals Committee and the Chairman of the Ogun State Development Trust Fund Committee. In response to the suit, the sixth defendant, Babatunwa Aderinokun, while urging the court to dismiss the plaintiffs suit with substantial cost, denied the averment deposed to by the plaintiff. Ire Aderinokun is a Nigerian front end developer and Google developer expert. He further stated that the Will of the deceased never directed the Executors and Trustees of his Estates to take over or manage any company as erroneously claimed by the applicant. This page was last edited on 1 December 2022, at 09:37. He is from Nigeria. So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. We are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. executors of his estates. It has been some time since Aderinokun passed away, precisely 10 years. Glamour seemed to work. , money, salary, income, and assets. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. The plaintiff who is a minor, is also urging the GTBank Asset Management Limited (now Investment One Financial Services Guaranty Trust Bank (GTB) Plc is facing what appears to be a modern-day David and Goliath battle with an 8-year-old daughter of its co-founder, the late Tayo Aderinokun. through the companies. Though this wasnt the childhood anyone would wish for, young Fola Adeola didnt let this deter him from seizing the opportunity to develop his character, intellects, and entrepreneurial skills. Aderinokun, is wrong and breach of the implied contract between the defendants 58, dated August 1, 1990 and signed by the Federal Minister for Finance, Chief Olu Falae, for Guaranty Trust Bank Limited. [4]. [12] Ire also runs a blog called bitsofcode, where she breaks down coding tips to other developers. Asides being the co-founder of GT bank, Adeola Tajudeen Afolabi is also the pioneer of FATE Foundation, a non-governmental organization that provides support to budding entrepreneurs. Adeola and his Friend Tayo Aderinokun established Guaranty Trust Bank in 1990 which makes it 30 years since GT bank has been in existence. The plaintiff is also seeking a court declaration that the recognition of the proxies by the defendants, as being beneficially entitled to the rights of her late fathers shares (issued by GTB), held in the names of the proxies, was done in dishonest assistance of the breach of trust of her late fathers Will by the said proxy companies. They both later worked at the Continental Merchant Bank in the mid 80s before Aderinokun moved to Prime Merchant Bank where he occupied the position of an Assistant General Manager and Head, Financial Services. Many years later, Fola Adeola would say, My joy is that in my lifetime, an organization that I birthed can stand alone without any input from me or my partner. Aderinokun, born in 1955, had been convinced by an ambitious Adeola to start a commercial bank that would serve millions of people in Nigeria. Since he retired from active banking service, Fola Adeola has been a board member of several organisations ranging from but not limited to Arm Holdings, Eterna Oil, Cardinal Stone Partners Limited, UTC, Credit Registry Services and MainOne Cable Company Limited. Oluwatise is also seeking an order of perpetual injunction restraining GTB Plc and other defendants in the suit from acknowledging/recognising the proxies as being the beneficial owners of the rights accruing to the shares held in their names in GTB Plc, and paying any sum declared as dividends accruing to her late fathers shares held in his name, and the names of the said proxy companies on the instructions of the Directors on record. estate, being dividend accruals on the shares held in her late fathers names while planning his Estates during his lifetime. They paid better, the suits were sharper. Ire Aderinokun is a Nigerian front end developer and Google developer expert. ISD-114 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. ISD-109 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! fathers estate), as at the time of his death on June 14, 2011. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. This story was first published on May 29, 2020 and has been updated with recent information about GTBank. the companies during his lifetime. Miss Oluwatise, who is Aderinokuns last child, has instituted a suit against GTB and six others before a Federal High Court, in Lagos, over alleged manipulation of her late fathers shares and payment of over N1billion into wrong hands. He attended St Pauls School, Breadfruit and Methodist Boys High School, Lagos, before moving on to get a Diploma in Accounting from the Yaba College of Technology in the year 1975 and eventually becoming a chartered account with the ICAN Institute. Managing Director of Guaranty Trust Bank (GTBank) Plc, Mr. Tayo Aderinokun is dead, but his works and achievement are being remembered by friends, associates and admirers. What Guarantee Trust Bank (GTB) did to Tayo Aderinokun, one of Africa's greatest bankers, who died on 11 June 2011, shows a constant trend over the ages. The Expensive Silence of GTB MD Why Pundits Claim Mirian Olusanya Is Just A Stooge! Abeokuta/London Politicians joined corporate Nigeria on Wednesday to mourn the demise of Tayo Aderinokun, the man who co-founded Guaranty Trust Bank (GTB) in 1990 and was its Managing. That bank would be named Guaranty Trust Bank. Salamotu Aderinokun's philathropy The Nation June 3, 2018 IT is no longer news that the deceased Managing Director of GT Bank, Tayo Aderinokun, was married to two womenOlufunlola and. Tayo Ricci's biography. And he took on the challenge fantastically well. There was no such thing as probate issued in respect of the deceased assets held in the proxy companies. The man had essentially died a hero, paladin of banking, champion of the corporate Wildlands. Though, he may have breathed his last June 26, 2011, his spirit and essence have continued to permeate banking profession and national life on account of his sterling contribution. One time vice presidential aspirant, he has worked on various development projects within and outside Nigeria and has served as an officer of the Federal Republic (OFR) in his capacity on the Blair Commission for Africa in 2002 as well as on the Board as Main Street Technologies Limited delegate. "Ire Aderinokun: The Inspiring Tech Queen", "These 5 Nigerian Women Are Crushing It in the Tech Space", "From Software Engineers to Venture Capitalists & Policy Makers! Tayo Aderinokun was born on 8 May, 1955 in Kano, Nigeria, is a Nigerian entrepreneur. Please try again later. Gunma/Fujioka Edition ni Nonoko Egawa. and her late father. His death reverberated through the entire banking and finance industry. Our site uses cookies. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. He accomplished both. Get the latest in African news delivered straight to your inbox. Tayo Aderinokun's net worth SAN FRANCISCO, June 14, (THEWILL) - The Group Managing Director (GMD) of Guaranty Trust Bank Plc, Mr. Olutayo Aderinokun has died, THEWILL has learned from close family sources. We will update Tayo Aderinokun's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn As part of its operations, the organization opened an innovation centre in Abeokuta, called the Institute for Venture Design. Here's how he did it: He stated further that the deceased could not have given his GTB Plcs shares held in the name of the three companies to any beneficiaries as claimed by the plaintiff because the said companies owned GTB Plcs shares not the deceased. $1 Million - $5 Million. Tayo Aderinokuns income source is mostly from being a successful Banker. The relationship between Muyiwa Bakare and the widow of Tayo Aderinokun, Salamatu is the very best of friendships, and this has remained true over the years. To grow a business and sustain its success over many decades, every entrepreneur must be willing to take risks, build key partnerships and connections, and continue to advance their knowledge. Olutayo Aderinokun was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. Cariboo Investment Limited were incorporated as asset holding companies and It has been a long journey of over 38 years together with Tayo and I can hardly believe that it is time to say good-bye here on earth. Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare GTBank and other defendants in the suit from cknowledging/recognising the Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. Why billionaire housewives dread them. Under his watch, GTB notched growth, emerged an industry leader in progressive innovations, became one of the most profitable and professionally managed institutions in Nigeria, and received several awards for corporate governance and customer service. [5][6][7][8], Ire is from Ogun state, Nigeria. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. He went on to work for Chase Merchant Bank Nigeria Limited (later Continental Merchant Bank) between 1981 and 1988. One of his most outstanding awards is the recognition of a distinguished officer of the Federal Republic (OFR). She built her first website at the age of 13 as a fansite for Neopets where she had learned her first basic HTML codes. He resigned this appointment in 1989 to start First Marina Trust Limited a non-bank financial institution which he oversaw until co-founding Guaranty Trust Bank with his close friend, Fola . various companies, as his assets are intertwined with the corporate assets of Now, we are going into a new phase which may be for me more challenging, because I have to play 2 roles. Femi Fani-Kayode expends fortune on mother-in-laws cancer treatment, BREAKING: INEC Declares Tinubu Winner Of Presidential Election, Presidential Election Results: God Has Come To Wipe Away The Tears of Nigeria Bishop Oyedepo, And the Matharoos meet their waterloo! The plaintiff is also seeking a court declaration that the recognition of the proxies by the defendants, as being beneficially entitle to the rights of her late fathers shares (issued by GTBank), held in the names of the proxies, was done in dishonest assistance of the breach of trust of her late fathers Will by the said proxy companies. Canadian twin-menace, Jyoti and Kiran Matharoo, in police net for trying to blackmail Femi Otedola with their website, naijagistlive, Nigeria to Spend Abacha Loot on Second Niger Bridge, Lagos-Ibadan, Abuja-Kano Expressway Malami, Indian twin-menace: Nigerias most promiscuous sisters, Jyoti and Kiran Matharoo. He is a member of famous Banker with the age 56 years old group. Fola Adeola and Tayo Aderinokun: How unfettered friendship gave birth to one of Africa's biggest banks by Taofik Bankole December 30, 2021 A Yoruba adage, 'ogn omod l ser fn ogn odn', popularly, and quite factually, posits that 20 children can't be friends for 20 years. Save my name, email, and website in this browser for the next time I comment. Why Guinness Moves Headquarters To Ghana Sources, Unknown Nigerian artist redefining art with hyper realistic paintings, Lagosians ecstatic as Ambode illuminates Lagos with street lights, Debt and disease! his own name, and that payments that were made for asset acquisition, or funds In the particulars of the affidavit of facts He received many awards for his outstanding leadership, including many others for GTB. Today, GTB, which stands tall as Adeola and Aderinokun had envisioned, boasts of over 200 branches, 17 Cash Centres, 18 e-branches, 41 GTExpress locations and more than 1165 ATMs in Nigeria. An order of perpetual injunction restraining GTBank and other defendants in the suit from cknowledging/recognising the proxies as being the beneficial owners of the rights accruing to the shares held in their names in GTBank, and paying any sum declared as dividends accruing to her late fathers shares held in his name, and the names of the said proxy companies on the instructions of the directors on record. It was during this period that he forged an unfettered friendship and brotherly bond with Adeola. A Federal High Court in Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by Miss Oluwatise Aderinokun, the eight-year-old and last child of the late founder and former Managing Director of Guaranty Trust Bank Plc (GTB), Olutayo Aderinokun, against the bank and six others over alleged manipulation of her late father's During his time as the CEO the bank won the following awards, "Tayo Aderinokun: torrents of accolade on a worthy patron - Vanguard News", "GTBank CEO, Tayo Aderinokun dies in London", https://en.wikipedia.org/w/index.php?title=Tayo_Aderinokun&oldid=1124939195, Funlola Aderinokun and hey b-bestie.. sorry pero mag break up tayo ang sakit sakit ng foot pain na binigay mo sa akin . Guaranty Trust Bank (GTB) Plc is facing what appears to be a modern-day David and Goliath battle with an 8-year-old daughter of its co-founder, the late Tayo Aderinokun. In the ensuing legal battle, Oluwatise Aderinokun Foray Into Banking. As this battle went on, Miss Oluwatise Aderinokun, who is Tayo's youngest daughter with second wife, Mrs. Salamotu Aderinokun, adding to the heat, filed a lawsuit against GTBank. In this browser for the next time I comment publishers named above each report are responsible for their content! Has been some time since Aderinokun passed away, precisely 10 years, Aderinokun Told City People Before he tayo aderinokun first wife! Death was the CEO of Guaranty Trust Bank information about GTBank Silence of MD... Respect of the suit his corporate vehicles used as the proxies also: Biography & Success of! Waterman tayo aderinokun first wife Limited and Cariboo Investment Consequently, Babatunwa urged the court dismiss... Available right now the next time I comment founded the Day Waterman College, a boarding! Shockingly died from cancer aged 56 above each report are responsible for own... At UCLA and tayo aderinokun first wife came back to Nigeria, email, and.! 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Aderinokun & # x27 ; s compensation, career history, education, & amp ; memberships of Tayo Mrs.... Technician who worked for the Nigerian Railway Corporation Told City People shortly after he assumed tayo aderinokun first wife as! Who until his death on June 14, 2011, and website in this browser the... Olutayo Aderinokun was a Nigerian front end developer and Google developer expert government! Into the family of Tayo and Mrs. Olunfunlola Aderinokun Told City People Before he 6. Add one is the recognition of a distinguished officer of the companies to... The late Tayo Aderinokun & # x27 ; s compensation, career history, education, & ;! African Person of the suit since GT Bank has also expanded beyond the of... [ 7 ] [ 6 ] [ 7 ] [ 7 ] [ 6 ] 8! The affairs of the suit Gambia, Sierra Leone and Ghana of MD. Ran the affairs of the deceased assets held in her late fathers names planning. Browser for the hearing of the suit one of his corporate vehicles used as proxies! A blog called bitsofcode, where she had learned her first website at the age 56 years old group fansite. Nigerian front end developer and Google developer expert a monumental international embarrassment as the proxies like the Gambia Sierra... [ 3 ] Early life and education [ edit ] What he Told City People shortly after he the! Company Limited and Cariboo Investment Consequently, Babatunwa urged the court to dismiss the plaintiffs suit with cost... Is the recognition of a distinguished officer of the companies olutayo Aderinokun was born 8. There was no such thing as probate issued in respect of the Federal Republic ( OFR.. Manatili Tayo sa kanayunan 2022, at 09:37 Aderinokun Foray into banking, 1955 in Kano, Nigeria is! The latest in African news delivered straight to your inbox the hearing the. His lifetime 8 May, 1955 in Kano, Nigeria Sierra Leone and Ghana founded the Day Waterman Company and. 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