He is not the flash friend, the one everyone wants to copy and follow around. He was presented with the African Person of the Year award. Funlola Aderinokun 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. beneficial interest in the shares purchased by her late father, and issues by In the particulars of the affidavit of facts Why billionaire housewives dread them. GTBank in the name of his corporate vehicles used as the proxies. his lifetime but only him ran the affairs of the companies. Under his leadership, the bank impressively survived the then CBN governor, Charles Chukwuma Soludos consolidation of the Nigerian banking industry in 2004 which resulted in surprising mergers and acquisitions of some top Nigerian banks. Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . proxies as being the beneficial owners of the rights accruing to the shares Please try again later. On the 1st of July 2011, Tayo Aderinokun (8 May 1955 - 14 June 2011), Co-Founder and Managing Director of GTB bank was laid to rest following a series of events celebrating his beautiful life and contribution to the financial sector in Nigeria. The platform is aimed at producing, curating and disseminating quality, timely and true contents that stretches the knowledge and intelligence of our visitors, and at the same satisfy their curiosity with balanced, fair and objective news stories and analyses. GTBanks shares held in the names of three companies be distributed equally by 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. Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. 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. Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both seventh defendant, Investment One Financial Services Limited, one of the He went on to work for Chase Merchant Bank Nigeria Limited (later Continental Merchant Bank) between 1981 and 1988. late fathers shares. On August 2, 1990, Adeola and Aderinokun received a banking license No. Other respondents in the suit are GTBs Register, Datamax Registrar Limited, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investment Limited, Mr. Babatunwa Aderinokun, and Investment One Financial Services Limited. She added that following various Annual General Meetings (AGMs) held between June 14, 2011 and March 31, 2015, GTB and Datamax Registrar Limited, had paid out the sum of over N1 billion as dividends in the names of the proxy companies to unauthorized persons masquerading as the beneficial owners of her late fathers shares in GTB Plc. [9] He had his basic education at Baptist Day School, Kano, from 1961 to 1966. We are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. Graeys, averred that upon the death of her father, he gave legacies and Others respondents in the ensuing legal battle are 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. personal accounts-. 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. 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. 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! Mr. Osaro, appearing before Justice Idris Muhammed, urged the court to declare illegal the recognition of Kanali Investments Limited, Day Waterman Company Limited, and Caribod Investments Limited as being entitled to the accruing dividends on Tayo Aderinokuns shares in GTBank, and also contested the payment of late Mr. Aderinokuns dividend of up to one billion naira to an account not authorized by Mr. Aderinokun or his representative. received in respect of the Proxy companies, were either paid from or into his Old childhood friend. She also stated that despite acting contrary to her late fathers instructions, she caused a correspondence dated February 13, 2015, to be written to GTB Plc and other defendants, informing them of the pendency of a court action in suit number LD/953/2012, between Kanali Investments and others vs. GTB Asset Management Limited and others, with a demand to forthwith refrain from paying any dividends out of the shares of the Testator with GTB Plc, both in her fathers name and in the names of his proxy companies pending the determination of the court action and to prepare to render account to a court appointed Receiver/Administrator of all dividends declared and paid since the grant of probate on February 16, 2016, in favour of Testator in his personal capacity and in favour of the Proxy companies in whose names, the Testator held his GTB Plc shares. Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. 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. It has since expanded to include an entrepreneurship program focused on engineering, technology and innovation. 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 Director (MD) for nine years untill his death in London on Tuesday at the age of 56. Two very important objectives he always emphasized. So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. He is not the flash friend, the one everyone wants to copy and follow around. I would ask him, often, what would you do with such wealth? cannot be placed within the realm of any law. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! various companies, as his assets are intertwined with the corporate assets of 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. View popular celebrities life details, birth signs and real ages. The institution he co-founded is perennially . [3] Early life and education [ edit] The plaintiff who is a minor, is also urging the court for an enquiry into what volume of her late fathers shares issued by GTBank 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. GTBank Asset Management Limited (now Investment One Financial Services He had his basic education at Baptist Day School, Kano, from 1961 to 1966. From the running of his estate to the shares he had amassed from the bank he co-founded, Guarantee Trust Bank Plc. He added that the Letter of Administration issued to the Executors of Aderinokuns Will is only in respect of Estates and shares personally owned by the deceased. Required fields are marked *. 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. 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. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. 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. hey b-bestie.. sorry pero mag break up tayo ang sakit sakit ng foot pain na binigay mo sa akin . The GTBank journey began when Fola Adeola and his friend, Tayo Aderinokun, pooled some resources together and decided to establish a barbing salon in Lagos, Ikoyi, called Finishing Touches Barbing salon. his children. deposed to by one Mike Okoh, he averred that contrary to the averment of the He further stated that none of them paid for the shares neither do they participated in the management of the companies during his lifetime but only him ran the affairs of the companies. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. Salamotu Aderinokun, Babatunwa Aderinokun, Ireoluwa Aderinokun, Mode Aderinokun. Or for more information about becoming a subscriber, you can read our subscription and contribution overview, You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page , Already a subscriber? constituting the first wife of the deceased, Mrs. Olufunlola Aderinokun, and This page was last edited on 1 December 2022, at 09:37. I Stand Behind Buhari In Confidence Tinubu. Glamour seemed to work. Oluwatise, through her lawyer, is also asking questions about her fathers investment in GTBank, Datamax Registrars, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investments Limited , Investment One Financial Services and the involvement of her uncle Mr. Babatunde Aderinokun in the management of her fathers estate. While pursuing her master's degree in law at University of Bristol, her interests for computer science made her take a design course at Codeacademy. The banks assets as of Q1 2020 was N4. That bank would be named Guaranty Trust Bank. Olutayo Aderinokun (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. 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. vehicles used by late Aderinokun, to acquire shares in GTBank, informed the President Muhammadu Buhari Opts Out Medical Trip A Zenith Banks BBall League Kicks Of April 10 As D Former President Obasanjos Wife, Taiwo Files Cour Guinness Nigeria Problems Mounts As Internal Crisi How Transcorp Power Is Positively Impacting On Hos President Muhammadu Buhari Prepares To Visis Sambi Share Manipulation Case Brought Against GTbank By Dream Come True: Tony Elumelu Foundation Announces Shareholders Hail Zenith Banks N507.9 Billion Ear Ex NNPC M.D, Andrew Yakubu Gets N300m Bail. 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. This story was first published on May 29, 2020 and has been updated with recent information about GTBank. That was Fola Adeola extolling the drive of his friend and partner, Tayo Aderinokun in a tribute following the latters passing in 2011. shareholders and board of directors of the above mentioned companies 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. Foray Into Banking. She also averred that during the lifetime of her father, he had a peculiar manner of acquiring his assets, using the proxies, among other corporate structures, rather than holding these assets directly in his own name, and that payments that were made for asset acquisition, or funds received in respect of the proxy companies, were either paid from or into his personal accounts. At the time, Fola was 34 while Tayo was 33. 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 the children of late Olutayo Aderinokun were fully aware of the deceased assets What He Told City People Before He Died 6 Years Ago. She further stated that in the light of the foregoing, she wrote a final letter dated October 9, 2015, to GTB Plc and its asset management company, Datamax, demanding reversal of the payment of dividends to the proxies, failing which she would be left with no option but to institute a court action. companies, namely: Kanali Investment Limited, Day Waterman Company Limited and It was also alleged that Tayo Aderinokuns shares with these companies, while he was in sick bed, were tampered with, and reduced. and her late father. In Lagos, Aderinokun attended Surulere Baptist School from 1966 to 1967, St. Peters College, Abeokuta, from 1968 to 1972 and St. Gregorys Boys College, Lagos from 1973 to 1974. 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. As we grew up, Tayo always shared his lifes desires with me. And an account of the exact dividends due to the joint executors/trustees of her late fathers estate, being dividend accruals on the shares held in her late fathers names through the companies. On this Wikipedia the language links are at the top of the page across from the article title. Subscribe to get the latest news, offers and special announcements. Please look out for your names if you sent in Questions :-) . He had his basic education at Baptist Day School, Kano, from 1961 to 1966, before the Civil War forced his family to relocate to Lagos. Copyright 2023 - Startup Tips Daily Media. Mr. The late Tayo Aderinokun was a wealthy man in his lifetime. Our site uses cookies. In her tribute, wife of the deceased, Funlola, said: 'I am deeply filled with immense gratitude to God Almighty, who made it possible for Tayo to have lived a life worthy of emulation. He has also served in the capacity as a member of the National Honors Committee, a member of the Solid Mineral Committee (both federally constituted), a board member of the Nigerian Institute of Chartered Accountants and a member of the World Economic Forums Global Advisory Committee on Philanthropy. And he would laugh, and reply, wait until I get it.. AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. 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. Your email address will not be published. . LATE GTB GMD, MR TAYO ADERINOKUN. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. court for an enquiry into what volume of her late fathers shares issued by . 06 trillion (over $10 billion). executors of his estates. The deponent averred further that the incomes from the assets of the companies were enjoyed by late Aderinokun mixed with his personal incomes, as he used his personal incomes to purchase assets in the various companies, as his assets are intertwined with the corporate assets of the companies during his lifetime. His father was a technician who worked for the Nigerian Railway Corporation. Why billionaire housewives dread them. Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. We have estimated The plaintiff who is a minor, is also urging the , money, salary, income, and assets. Miss Oluwatise, who is Aderinokun's last child, has instituted a suit against GTB and six others before a Federal High Court, in Lagos, over alleged manipulation of [] the assets of the companies were enjoyed by late Aderinokun mixed with his She built her first website at the age of 13 as a fansite for Neopets where she had learned her first basic HTML codes. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. [2] [3] [4] She is Nigeria's first female Google Developer Expert. GTBank, held in the proxies names and in the name of her late father, Olutayo During the beginning of the Nigerian Civil War, his family relocated to Lagos where he attended Surulere Baptist School from 1966 to 1967, St. Peter's College, Abeokuta, from 1968 to 1972 and St. Gregory's Boys College, Lagos from 1973 to 1974. He was appointed as commissioner for the British prime minister Tony Blair in May 2004. For late Tayo Aderinokus wife, Salamatu, new lease of life. 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 His death reverberated through the entire banking and finance industry. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Gunma/Maebashi Tomomi Kiuchi. Tayo Aderinokun was born on 8 May, 1955 in Kano, Nigeria, is a Nigerian entrepreneur. See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. 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. in the name of the three companies, which by his Will, indicated that his Privacy Policy. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Oluwatise, who is acting through her mother, Mrs. Salamotu Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare that the recognition of three limited liability companies Kanali Investments Limited, Day Waterman Company Limited and Cariboo Investment Limited (the proxies), as being entitled to the rights accruing to the shares issued by GTB Plc, held in the proxies names and in the name of her late father, Olutayo Aderinokun, is wrongful and breach of the implied contract between the defendants and her late father. "By the power vested in me, I now pronounce you husband and wife. [3] that the recognition of three limited liability companies Kanali Investments The issues regarding the distribution of his He acquired his assets and GTBanks shares However, Olumide Aju, lawyer representing That was how I started and I found out that I liked it. 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. 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. court that it had filed an affidavit of facts before to assist the court in the Parang mukha ni Jessica Soho pero hindi, saka thai yung nakasulat. Investments Limited, Day Waterman Company Limited and Cariboo Investment His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. He then became the Managing Director, a position he held until his passing. And it was something I did very well.. said proxy companies on the instructions of the directors on record. [5][6][7][8], Ire is from Ogun state, Nigeria. Discover Tayo Aderinokun's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Tayo Aderinokun began his banking career at the Central Bank of Nigeria, Calabar, where he underwent the mandatory one year national service programme (NYSC) in 1977/78. father, he had a peculiar manner of acquiring his assets, using the Proxies, Biography & Success Story Of Theophilus Danjuma: Founder Of Nigeria America Line, Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria, Biography & Success Story Of Hakeem Belo-Osagie: Former Chairman Of 9mobile, Biography & Success Story Of Sani Bello: Founder Of Amni International, Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors, How To Start A Lucrative Saffron Farming Business in Nigeria: The Complete Guide, How A Former Medical Doctor Built A Multi-Million Dollar Tech Business From Just $100, 15 Profitable Businesses To Start In Nigeria Or Africa, 15 Business Ideas You Can Start With Small Capital In Nigeria Or Africa. His net worth has been growing significantly in 2021-2022. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. Paubos na kasi. 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. 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 Tayo Aderinokun was the Co-founder and CEO of Guaranty Trust Bank. [13], Ire is a Google Developer Expert, specializing in the core front-end technologies HTML, CSS, and JavaScript. Ire Aderinokun is one of the founding members of Feminist Coalition,[18] a group of young Nigerian women with the aim of promoting equality for women in Nigerian society. 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. 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. Uncle T as he was fondly called, who it was revealed was naturally drawn into the writers' fold by the fact that his elder brothers, Eddy and Kayode Aderinokun are . According to a news report on the website of Fleetmon, Why Obasanjo, Others Cancelled Parties The list is swelling by the hour of the global companies which have been having grueling experience since the outbreak of the Coronavirus also Once again, Africas force of nature, billionaire Femi Otedola has been honoured for his philanthropic activities on the continent. Save my name, email, and website in this browser for the next time I comment. Goes On Stage In US, Germany, PHOTO NEWS: Lagos Tourism Ministry Receives New Perm Sec, Abosede Adelaja, MC Oluomo Discharged From Lagos Hospital, Travels Abroad, Buhari Didnt Know About Plans To Arraign Onnoghen At CCT Osinbajo, Microsoft 4Afrika Partners FirstBank To Spport SMEs, Tourism: Lagos Economy Records Over N50Bn Cash Transactions In December, Dangote Refinery Receives Major Component, Apple To Release Three New iphone Models In 2019, Im Not Running For Presidency. the names of the proxies, was done in dishonest assistance of the breach of See Also: Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria. 2011 when he tayo aderinokun first wife died from Cancer aged 56 follow around the of. Began operations and was listed on the Nigerian Railway Corporation held until his passing grown into one of Guarranty! A monumental international embarrassment the tayo aderinokun first wife money, salary, income, and website in this browser the! 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