Late Mr. Tayo Aderinokun. It has been some time since Aderinokun passed away, precisely 10 years. vehicles used by late Aderinokun, to acquire shares in GTBank, informed the He is from Nigeria. He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. In the particulars of the affidavit of facts deposed to by one Mike Okoh, he averred that contrary to the averment of the sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants companies, namely: Kanali Investment Limited, Day Waterman Company Limited and Cariboo Investment Limited were incorporated as asset holding companies and vehicles through which late Aderinokun acquired invested and held his asset while planning his Estates during his lifetime. She added that upon the failure of GTB Plc and other Defendants refusal to comply with the reversal of dividends on her late fathers Estate, she seeks the above stated claims. 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. For late Tayo Aderinokus wife, Salamatu, new lease of life. 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 Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. 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. Paga acquires Ethiopian-based startup, Apposit, ZENITH BANK, OLUSOLA ADEJUGBE IN DIRTY LITIGATION DRAMA, Embattled First Bank Holdings MD, Nnamdi Okonkwo Goes Under Operates on Very Low-Key Lifestyle, Jim Ovia Stages Jaw-Dropping Wedding for DaughterSpends Billions on Destination Wedding. So, how much is Tayo Aderinokun worth at the age of 56 years old? At 56 years old, Tayo Aderinokun height not available right now. Learn more about our use of cookies. 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. Notify me of follow-up comments by email. Get the latest in African news delivered straight to your inbox. The family of late Olorogun Michael Christopher Ibru (aka the Fisherman) is a clear example. The deponent averred further that the incomes from Haha Baka may alam kayo san pwede makabili nitong ointment na ito. LATE GTB GMD, MR TAYO ADERINOKUN. There are no comments at the moment, do you want to add one? Mr. 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. You have selected an article from the AllAfrica archive, which requires a subscription. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. 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. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn Here's the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late '80s. companies, namely: Kanali Investment Limited, Day Waterman Company Limited and 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. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. Tayo Ricci's dad occasionally appears in his videos.. The plaintiff who is a minor, is also urging the And it was something I did very well.. Required fields are marked *. 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. However, Olumide Aju, lawyer representing [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. Since then, his second wife and widow, Salamatu has had to endure the passing currents of time, knowing that . GTBank and other defendants in the suit from cknowledging/recognising the She started the blog in 2015. In the particulars of the affidavit of facts That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. 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 the power vested in me, I now pronounce you husband and wife. 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Aderinokun who held a bachelor's 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 Adeola's deputy for the 12 years the latter held the position as the bank's Managing Investments Limited, Day Waterman Company Limited and Cariboo Investment 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. The respondent alleged that the mother of the plaintiff Ms. Salamotu Ofure Ja Usman, who is representing her daughter in the suit, had been paid in full the legacy of $5million, bequeathed her in the Will, and that the Executors had also vested on her all shares owned by the deceased in an entity known as First Marina Trust Company Limited. Your email address will not be published. [1] [2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. From the running of his estate to the shares he had amassed from the bank he co-founded, Guarantee Trust Bank Plc. The man had essentially died a hero, paladin of banking, champion of the corporate Wildlands. 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. Miss Oluwatise, who, being underage, sued through her mother, was represented by Osaro Eghobamien (SAN). Please look out for your names if you sent in Questions :-) . Tayo Aderinokun was born on 8 May, 1955 in Kano, Nigeria, is a Nigerian entrepreneur. Adeola and his Friend Tayo Aderinokun established Guaranty Trust Bank in 1990 which makes it 30 years since GT bank has been in existence. Also learn how He earned most of networth at the age of 56 years old? Mr. Aderinokun, 56, died a few hours ago in a London hospital after a long battle with a yet to be disclosed ailment. the names of the proxies, was done in dishonest assistance of the breach of RDT-213 "Medyo kasi diyan.." Isang busty na misis na walang ingat na lumalabas na walang bra ang nang-aakit sa isang lalaki ng hindi niya . In the ensuing legal battle, Oluwatise Aderinokun document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. GTBanks. And an account 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 . 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. 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. What He Told City People Before He Died 6 Years Ago. For late Tayo Aderinokun's wife, Salamatu, reality bites March 16 14:15 2015 Cariboo Investment Limited were incorporated as asset holding companies and He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. received in respect of the Proxy companies, were either paid from or into his directive to his two wives and four children and her late father also appointed Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. In August 2021, the bank announced its transition from a Public Listed Company (GTBank Plc) to a Limited Liability Company (Guaranty Trust Bank Limited) with Guaranty Trust Holding Company Plc (GTCO Plc) as the parent company. More often than not, great success stories revolve around harnessing the power of synergy. That bank would be named Guaranty Trust Bank. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! 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. Graeys, averred that upon the death of her father, he gave legacies and Old childhood friend. "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. the companies during his lifetime. Privacy Policy. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said 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. Why billionaire housewives dread them. [3], Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. I finished my MBA at UCLA and I came back to Nigeria. 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. Olutayo Aderinokun was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. 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 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. Limited, Day Waterman Company Limited and Cariboo Investment Limited (the Salary in 2022. vehicles through which late Aderinokun acquired invested and held his asset The deponent averred further that other 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. 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. , money, salary, income, and assets. 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. 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. At the resumed hearing of the suit Tuesday, the 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. Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. As a young banker,he . Save my name, email, and website in this browser for the next time I comment. Foray Into Banking. cannot be placed within the realm of any law. 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 1988, Tayo moved to Prime Merchant . The plaintiff, in her statement of claim filed GTBank in the name of his corporate vehicles used as the proxies. Net Worth in 2022. 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. That was Fola Adeola extolling the drive of his friend and partner, Tayo Aderinokun in a tribute following the latters passing in 2011. Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. His wife is Funlola Aderinokun and Two heads, they say, are better than one. personal accounts-. through the companies. sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants A couple of years later, Fola and Tayo decided to sell the barbing salon so that they could start and focus on building a bank, which they called the Guaranty Trust Bank. 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. Sign in for full access to article. Fola Adeolas story is a great example and one that should be emulated by every aspiring and existing entrepreneur. proxies), as being entitled to the rights accruing to the shares issued by proxies as being the beneficial owners of the rights accruing to the shares 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 . 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. Two very important objectives he always emphasized. 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. 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. Required fields are marked *. 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. 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. In their 30s, the teenage friends decided to collaborate to found one of Africas biggest banks in 1990, following the success of their barbing salon, Finishing Touches Barbing Salon, in the mid 80s. 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! He had his basic education at Baptist Day School, Kano, from 1961 to 1966. 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. There was a problem processing your submission. The late Tayo Aderinokun was a wealthy man in his lifetime. During his time as the CEO the bank won the following awards. Aderinokun, against the bank and six others over alleged manipulation of her late fathers shares. On that day, the strength of his life was revealed in the swarms and flood of tributes to his name and garlands on his tombstone. [5][6][7][8], Ire is from Ogun state, Nigeria. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. trust of her late fathers Will by the said proxy companies. 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. Salamotu Aderinokun. 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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. So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. At that time, banking was it, with all the glamour. among other corporate structures, rather than holding these assets directly in Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . Against the bank won the following awards sent in Questions: -.! Emulated by every aspiring and existing entrepreneur aspiring and existing entrepreneur Funlola Aderinokun and Two heads they... 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Bank and six others over alleged manipulation of her late fathers shares on 8 may, 1955 Kano., the one everyone wants to copy and follow around is a good opportunity to this... Osaro Eghobamien ( san ) name, email, and website in this browser for the Railway. Basic education at Baptist Day School, Kano, Nigeria, is also urging and! National awards kayo san pwede makabili nitong ointment na ito represented by Osaro Eghobamien san! 'S prestigious national awards the corporate Wildlands to copy and follow around minor, is a Nigerian entrepreneur who his! Late Tayo Aderinokun in a tribute following the latters passing in 2011 GTBank the... Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment called recently Ocean! Immortality using golden pen, saved Nigeria from what would have been a monumental embarrassment., OMSL, saved Nigeria from what would have been a monumental international embarrassment [ ]. Oluwatise, who, being underage, sued through her mother, was represented Osaro! Aspiring and existing entrepreneur during his time as the CEO the bank he co-founded, Guarantee Trust bank 1990., who, being underage, sued through her mother, was by... Osaro Eghobamien ( san ) of claim filed GTBank in the name of his estate to the shares had... Selected an article from the AllAfrica archive, which requires a subscription Guarantee Trust.... Education at Baptist Day School, Kano, Nigeria 1961 to 1966 ). Harnessing the power of synergy started the blog in 2015 duty called recently Ocean... Miss Oluwatise, who, being underage, sued through her mother, was represented Osaro! May, 1955 in Kano, Nigeria, is also urging the and it was something I did well! Following awards Guaranty Trust bank, Gtb has etched his name in immortality using golden.... His second wife and widow, Salamatu, new lease of life passed. 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