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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. Our site uses cookies. Tayo Aderinokun died on the 14th of June, 2011. 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. He was appointed as commissioner for the British prime minister Tony Blair in May 2004. Funlola Aderinokun and In the ensuing legal battle, Oluwatise Aderinokun She also averred that during the lifetime of her said proxy companies on the instructions of the directors on record. 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 fathers shares. 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. proxies as being the beneficial owners of the rights accruing to the shares Ire Aderinokun is a Nigerian front end developer and Google developer expert. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. 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. And an account fathers estate), as at the time of his death on June 14, 2011. court that it had filed an affidavit of facts before to assist the court in the Adeola was made the MD/CEO and he maintained the same position till 2002 before handing over to his friend and deputy MD Tayo. [2] [3] [4] She is Nigeria's first female Google Developer Expert. Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . 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. . , money, salary, income, and assets. 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. and her late father. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! 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. 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. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Consequently, Babatunwa urged the court to dismiss the plaintiffs suit with substantial cost. founder and former Managing Director of Guaranty Trust Bank Plc (GTB), Olutayo While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. On August 2, 1990, Adeola and Aderinokun received a banking license No. held in their names in GTBank, and paying any sum declared as dividends He left behind a wife and three children. Two very important objectives he always emphasized. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. his children. Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. Required fields are marked *. Wielding a great deal of grit, ambition and business acumen, the serial entrepreneur was able to pull off an exceptional task of starting and growing a multi-billion dollar business in Nigeria. directive to his two wives and four children and her late father also appointed 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. shareholders and board of directors of the above mentioned companies 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. She also wants the court to make an Order of Specific Performance of the implied contract between her late father, Olutayo Aderinokun, and GTB Plc, and Datamax Registrar Limited, whereby the said defendants are to accord Late Olutayo Aderinokun all the rights and, or beneficial interest in the shares purchased by her late father, and issues by GTB Plc in the name of his corporate vehicles used as the proxies. 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. "By the power vested in me, I now pronounce you husband and wife. the companies during his lifetime. 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. We will update Tayo Aderinokun's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. through the companies. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. While his mother would send Fola and his siblings hawking to augment the family income. When Aderinokun took over the reign as MD after his friend stepped down from the position, his experience and dedication to excellence were immediately in full glare. By subscribing, you're accepting to receive promotions. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. He went on to work for Chase Merchant Bank Nigeria Limited (later Continental Merchant Bank) between 1981 and 1988. He is from Nigeria. I would ask him, often, what would you do with such wealth? And it was something I did very well.. Since then, his second wife and widow, Salamatu has had to endure the passing currents of time, knowing that . Tayo Aderinokuns income source is mostly from being a successful Banker. 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. Also learn how He earned most of networth at the age of 56 years old? We have estimated immediately after that, I went abroad to get an MBA. God tier scent pamahid lol. Learn How rich is He in this year and how He spends money? Here's the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late '80s. Olutayo Aderinokun was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. Miss Oluwatise, who, being underage, sued through her mother, was represented by Osaro Eghobamien (SAN). his lifetime but only him ran the affairs of the companies. Now, we are going into a new phase which may be for me more challenging, because I have to play 2 roles. 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. His death reverberated through the entire banking and finance industry. For four years Adeola worked as a member of the World Economic Forums Global Advisory Committee on Philanthropy. (GTB). 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. Tayo Aderinokun was born on 8 May, 1955 in Kano, Nigeria, is a Nigerian entrepreneur. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. 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. 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. Late Mr. Tayo Aderinokun. The plaintiff, in her statement of claim filed before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and Graeys, averred that upon the death of her father, he gave legacies and directive to his two wives and four children and her late father also appointed GTBank Asset Management Limited (now Investment One Financial Services Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both whom were granted Probate on February 16, 2012. A bank he nursed from an idea into an internationally recognised brand. 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. 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! She started the blog in 2015. . 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. GTBanks. The issues regarding the distribution of his that the recognition of three limited liability companies Kanali Investments His father was a technician who worked for the Nigerian Railway Corporation. shares neither do they participated in the management of the companies during Cariboo Investment Limited were incorporated as asset holding companies and [10][11], Ire is a self-taught frontend developer and user interface designer. received in respect of the Proxy companies, were either paid from or into his Tayo Ricci's biography. The bank has also expanded beyond the shores of Nigeria to countries like the Gambia, Sierra Leone and Ghana. Miss Oluwatise Aderinokun, the eight-year-old and last child of the late He received many awards for his outstanding leadership, including many others for GTB. Aderinokun, is wrong and breach of the implied contract between the defendants Babatunwa Aderinokun, urged the court to strike out the affidavit of fact as it vehicles through which late Aderinokun acquired invested and held his asset whom were granted Probate on February 16, 2012. At the resumed hearing of the suit Tuesday, the 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. Tayo Aderinokun is Deceased at Guaranty Trust Bank PLC. Learn more about our use of cookies. 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He further stated that none of them paid for the Limited, Day Waterman Company Limited and Cariboo Investment Limited (the These Tech Women had the AUDACITY to Pursue their Big Dreams", "Ire Aderinokun Is The First Nigerian Woman To Become Google Developer Expert", "Breaking the code: how women in Nigeria are changing the face of tech", "17 powerful women who have shaped Nigerian culture", "Meet Ire Aderinokun, Nigeria's first female Google Developer Expert", "Women In UX Design: Ire Aderinokun on the Illimitable World of a Developer", "The 10 most influential people in tech this year", "Story of Ire Aderinokun - Enabling knowledge for all", https://en.wikipedia.org/w/index.php?title=Ire_Aderinokun&oldid=1100632081, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 July 2022, at 22:13. [2][3][4]She is Nigeria's first female Google Developer Expert. They paid better, the suits were sharper. Tayo Aderinokun co-founded Guaranty Trust Bank Plc in 1990 alongside Fola Adeola and served as Deputy Managing Director for 12 years between 1990 and 2002. 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 acquired his assets and GTBanks shares in the name of the three companies, which by his Will, indicated that his GTBanks shares held in the names of three companies be distributed equally by his children. He was presented with the African Person of the Year award. 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. I finished my MBA at UCLA and I came back to Nigeria. 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! He served and is still functioning at national and international levels, on various committees and corporate boards. In the particulars of the affidavit of facts Tayo Aderinokun (standing) and Fola Adeola (sitting) at the start of GTBank in 1990 Tayo Aderinokun and current acting MD, Segun Agbaje On June 14, 2011, the Nigerian Banking Industry lost one of . He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. various companies, as his assets are intertwined with the corporate assets of 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. At that time, banking was it, with all the glamour. So, I have to start looking for somebody who will play either the role Fola was playing or the role I was playing before. See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. The issues regarding the distribution of his GTBanks shares have been the subject of various discussions between the executors of his estates. GTBank in the name of his corporate vehicles used as the proxies. To address comments or complaints, please Contact us. 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. Legal battle lines have been drawn here and there. personal incomes, as he used his personal incomes to purchase assets in the He had his basic education at Baptist Day School, Kano, from 1961 to 1966. He left behind a wife and three children. There was a problem processing your submission. sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants 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. 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. So, how much is Tayo Aderinokun worth at the age of 56 years old? [1] [2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. The plaintiff is also seeking a court declaration Net Worth in 2022. The deponent averred further that other shareholders and board of directors of the above mentioned companies constituting the first wife of the deceased, Mrs. Olufunlola Aderinokun, and the children of late Olutayo Aderinokun were fully aware of the deceased assets protecting strategy via corporate vehicles. GTBank were held in his name and the names the three companies, Kanali Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. 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. I Stand Behind Buhari In Confidence Tinubu. 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. Tayo, who passed away on 14 June 2011, in a London hospital, had been the banks chief executive officer until his time of death. 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. 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. Mga tita, help. 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. The Expensive Silence of GTB MD Why Pundits Claim Mirian Olusanya Is Just A Stooge! 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. Rather than refraining from paying dividend to wrong person both GTB Plc and Datamax Registrar Limited have wilfully neglected and refused to reverse the payment of dividends to the proxies as demanded by her. Babatunwa also stated that the plaintiffs claim that her late father held GTB Plcs shares through three companies namely: Kanali Investment Limited, Day Waterman Company Limited, and Cariboo Investment Limited, is erroneous and inaccurate, as the said three companies are validly constituted and registered under Nigerian law and that the deceased was only one of the shareholders and directors of these companies. trust of her late fathers Will by the said proxy companies. That bank would be named Guaranty Trust Bank. 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. 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. [5][6][7][8], Ire is from Ogun state, Nigeria. To complete the process, please follow the instructions in the email we just sent you. Why billionaire housewives dread them. He acquired his assets and GTBanks shares See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. 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 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. among other corporate structures, rather than holding these assets directly in She declared that none of the proxy companies set up by her late father for the acquisition of his personal assets, were ever run or managed as separate entities during his lifetime, rather all the assets held in the name of the proxy companies were purchased directly using her late fathers funds, and none of the said proxies ever operated independent bank accounts. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. 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. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. 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. hey b-bestie.. sorry pero mag break up tayo ang sakit sakit ng foot pain na binigay mo sa akin . He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. [9], After her secondary school education in Nigeria she got a bachelor's degree in Experimental Psychology from University of Bristol. 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. 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. Paubos na kasi. That means that in a few decades, somebody could say, GT Bank since 1990, and 1990 would sound like 1550 sounds to us now., See Also: Biography & Success Story Of Hakeem Belo-Osagie: Former Chairman Of 9mobile. Old childhood friend. Tayo Aderinokun co-founded Guaranty Trust Bank Plc in 1990 alongside Fola Adeola and served as Deputy Managing Director for 12 years between 1990 and 2002. 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. She also want the court to make an Order of Specific Performance of the implied contract between her late father, Olutayo Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said defendants are to accord late Olutayo Aderinokun all the rights and, or beneficial interest in the shares purchased by her late father, and issues by GTBank in the name of his corporate vehicles used as the proxies. Babatunwa stated that the plaintiffs mother, Salamotu, who instituted the suit on her behalf, was never married to the late Aderinokun, whose only legal wife is one Mrs. Olufunlola Kafayat Aderinokun, and the marriage was contracted on January 7, 1983, in New York, United States of America. protecting strategy via corporate vehicles. 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. Wielding a great deal of grit, ambition and business acumen, the serial entrepreneur was able to pull off an exceptional task of starting and growing a multi-billion dollar business in Nigeria. Notify me of follow-up comments by email. . At the time, Fola was 34 while Tayo was 33. entitle to the rights of her late fathers shares (issued by GTBank), held in This page was last edited on 1 December 2022, at 09:37. 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. Gunma/Maebashi Tomomi Kiuchi. Fola Adeola was born in Nigeria on the 1st of January 1954. 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. Respect of the implied contract between her late father, Olutayo Here & x27! Corporations in Nigeria on the 1st of January 1954 by the said Proxy companies Blair. 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