You can subscribe by visiting our subscription page. [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. The issues regarding the distribution of his Get the latest in African news delivered straight to your inbox. See Also: Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria. 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. Aderinokun, against the bank and six others over alleged manipulation of her I Stand Behind Buhari In Confidence Tinubu. In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. GTBanks shares have been the subject of various discussions between the $1 Million - $5 Million. In his tribute to his departed friend and partner, Adeola commended Aderinokun for sustaining the vision, and taking the bank so much higher to a realm I know I could never have taken it to, adding that under Aderinokuns leadership, the bank simply grew in leaps and bounds.. [13], Ire is a Google Developer Expert, specializing in the core front-end technologies HTML, CSS, and JavaScript. View popular celebrities life details, birth signs and real ages. 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. He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. Miss Oluwatise Aderinokun, the eight-year-old and last child of the late 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 Learn more about our use of cookies. Consequently, Babatunwa urged the court to dismiss the plaintiffs suit with substantial cost. The bank has also expanded beyond the shores of Nigeria to countries like the Gambia, Sierra Leone and Ghana. Cariboo Investment Limited were incorporated as asset holding companies and At that time, banking was it, with all the glamour. "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! You may kiss the bride." It was the last line I heard before the corners of his lips rose, his eyes shifted from Father to mine, causing my head to turn to the small crowd to . 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 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. Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both Investments Limited, Day Waterman Company Limited and Cariboo Investment 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. Two heads, they say, are better than one. by raising funds severally and becoming the first Nigerian Company and African Bank to be listed on the Main Market of the London Stock Exchange . vehicles used by late Aderinokun, to acquire shares in GTBank, informed the And an account The Real Housewives of Atlanta The Bachelor Sister Wives 90 Day Fiance Wife Swap The Amazing Race Australia Married at First Sight The Real Housewives of Dallas My 600-lb Life Last Week Tonight with John Oliver. The plaintiff who is a minor, is also urging the He was appointed as commissioner for the British prime minister Tony Blair in May 2004. Your email address will not be published. We recommend you to check the complete list of Famous People born on 8 May. LATE GTB GMD, MR TAYO ADERINOKUN. proxies as being the beneficial owners of the rights accruing to the shares This story was first published on May 29, 2020 and has been updated with recent information about GTBank. There was no such thing as probate issued in respect of the deceased assets held in the proxy companies. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. 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. See Tayo Aderinokun's compensation, career history, education, & memberships. 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. Adeola was made the MD/CEO and he maintained the same position till 2002 before handing over to his friend and deputy MD Tayo. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. Others respondents in the ensuing legal battle are GTBanks Registrar, Datamax Registrar Limited, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investment Limited, Mr. Babatunwa Aderinokun, and Investment One Financial Services Limited. Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. Gunma/Fujioka Edition ni Nonoko Egawa. Since then, his second wife and widow, Salamatu has had to endure the passing currents of time, knowing that . 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. Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. 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. Sign in for full access to article. Tayo Ricci's biography. 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. 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 Nigerian Stock Exchange President's Merit Award in 2003, 2005, 2007 and 2008. 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. You have selected an article from the AllAfrica archive, which requires a subscription. It has since expanded to include an entrepreneurship program focused on engineering, technology and innovation. One of his most outstanding awards is the recognition of a distinguished officer of the Federal Republic (OFR). Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. He is not the flash friend, the one everyone wants to copy and follow around. estate, being dividend accruals on the shares held in her late fathers names There are no comments at the moment, do you want to add one? 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. The deponent averred further that the incomes from 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. 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. Your email address will not be published. I finished from the University of Lagos and I went for my NYSC and got posted to Central Bank, through normal posting, Aderinokun recalled his first romance with banking in an interview with City People. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. 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 Why billionaire housewives dread them. Foray Into Banking. 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. 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. He accomplished both. 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 . the names of the proxies, was done in dishonest assistance of the breach of We will update Tayo Aderinokun's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. Fola Adeola is married to Hajara Fola Adeola and they are blessed with six children. And a partnership, coupled with a dream and the zeal to bring it to reality, is a great way to shoot for the stars. [2][3][4]She is Nigeria's first female Google Developer Expert. The institution he co-founded is perennially . 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. Here's how he did it: Ire Aderinokun is a Nigerian front end developer and Google developer expert. who is suing GTBank and other respondents through her mother, Mrs. Salamotu GTBank and other defendants in the suit from cknowledging/recognising the 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 had his basic education at Baptist Day School, Kano, from 1961 to 1966. Notify me of follow-up comments by email. See Also: Biography & Success Story Of Theophilus Danjuma: Founder Of Nigeria America Line. GTBanks shares held in the names of three companies be distributed equally by Graeys, averred that upon the death of her father, he gave legacies and 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. Discover Tayo Aderinokun's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. said proxy companies on the instructions of the directors on record. See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. 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! He left behind a wife and three children. cannot be placed within the realm of any law. [3] Early life and education [ edit] 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. 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! 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, First of its kind! Aderinokun, is wrong and breach of the implied contract between the defendants While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. Subscribe to get the latest news, offers and special announcements. 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. 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. 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 . Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants 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. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. Our site uses cookies. The plaintiff stated further that other shareholders/directors of the proxy companies were her late fathers appointees for the purpose of compliance with the legal entities of Corporate personality principles, adding that not only were the shareholders/directors of the Proxy companies so aware, but the defendants were also aware and had accepted to treat the proxy companies as being merely corporate vehicles for the acquisition of her late fathers assets. trust of her late fathers Will by the said proxy companies. directive to his two wives and four children and her late father also appointed 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. See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. 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. (GTB). And it was something I did very well.. Limited, Day Waterman Company Limited and Cariboo Investment Limited (the Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. By subscribing, you're accepting to receive promotions. 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. 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. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. . 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. court for an enquiry into what volume of her late fathers shares issued by 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. 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. 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 received many awards for his outstanding leadership, including many others for GTB. while planning his Estates during his lifetime. 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. Tayo Aderinokun is Deceased at Guaranty Trust Bank PLC. Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare He added that she received all her bequests before the wife, children and charity of the deceased were given what was bequeathed to them. Limited (being shares/Properties held in trust of the beneficiaries of her late 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-, That is the problem that men leave for their families when they pass away and have children from more than one woman. 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. 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