He is from Nigeria. The banks assets as of Q1 2020 was N4. 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. 06 trillion (over $10 billion). 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. 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. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. directive to his two wives and four children and her late father also appointed Old childhood friend. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. His death reverberated through the entire banking and finance industry. 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. Required fields are marked *. late fathers shares. All the resolutions of the three companies were duly passed at meetings validly convened by the companies. [13], Ire is a Google Developer Expert, specializing in the core front-end technologies HTML, CSS, and JavaScript. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Aderinokun, born in 1955, had been convinced by an ambitious Adeola to start a commercial bank that would serve millions of people in Nigeria. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. Salamotu Aderinokun. Please try again later. She also averred that during the lifetime of her entitle to the rights of her late fathers shares (issued by GTBank), held in 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! 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. Copyright 2023 - Startup Tips Daily Media. GTBank were held in his name and the names the three companies, Kanali Graeys, averred that upon the death of her father, he gave legacies and View popular celebrities life details, birth signs and real ages. 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 . Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. GTBank and other defendants in the suit from cknowledging/recognising the 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. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. 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. Fola Adeolas story is a great example and one that should be emulated by every aspiring and existing entrepreneur. Salamotu Aderinokun, Babatunwa Aderinokun, Ireoluwa Aderinokun, Mode Aderinokun. His father was a technician who worked for the Nigerian Railway Corporation. Your email address will not be published. estate, being dividend accruals on the shares held in her late fathers names Funlola Aderinokun and personal accounts-. The deponent averred further that other One of his most outstanding awards is the recognition of a distinguished officer of the Federal Republic (OFR). Lifestyle King: Inside UBA MDs Paradise of Treats and Luxury Cars, Aigboje Aig-Imoukhuede, Herbert Wigwe At War Insiders Allege. 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. Parang mukha ni Jessica Soho pero hindi, saka thai yung nakasulat. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. Fola Adeola is married to Hajara Fola Adeola and they are blessed with six children. 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. We have estimated court for an enquiry into what volume of her late fathers shares issued by 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. GTBank, held in the proxies names and in the name of her late father, Olutayo that the recognition of the proxies by the defendants, as being beneficially Tayo Aderinokun's net worth The plaintiff who is a minor, is also urging the 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. 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. Save my name, email, and website in this browser for the next time I comment. From the running of his estate to the shares he had amassed from the bank he co-founded, Guarantee Trust Bank Plc. whom were granted Probate on February 16, 2012. 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. 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. 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. 58, dated August 1, 1990 and signed by the Federal Minister for Finance, Chief Olu Falae, for Guaranty Trust Bank Limited. 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. GTBank Asset Management Limited (now Investment One Financial Services 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 Two very important objectives he always emphasized. , money, salary, income, and assets. The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. 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 . $1 Million - $5 Million. sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants Tayo Aderinokun died on the 14th of June, 2011. In the ensuing legal battle, Oluwatise Aderinokun The plaintiff is also seeking a court declaration There was no such thing as probate issued in respect of the deceased assets held in the proxy companies. He further stated that none of them paid for the Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. 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. seventh defendant, Investment One Financial Services Limited, one of the 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. Tayo Aderinokun was born on 8 May, 1955 in Kano, Nigeria, is a Nigerian entrepreneur. vehicles used by late Aderinokun, to acquire shares in GTBank, informed the Your email address will not be published. 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. On this Wikipedia the language links are at the top of the page across from the article title. who is suing GTBank and other respondents through her mother, Mrs. Salamotu 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. Olutayo Aderinokun was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. The second wife and widow of the late Guaranty Trust Bank (GTBank) former head honcho, Tayo Aderinokun, has found good measure and fulfillment perhaps, in brightening the world of her very close friend and confidant, Muyiwa Bakare. 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. 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. 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. personal incomes, as he used his personal incomes to purchase assets in the There was a problem processing your submission. Discover today's celebrity birthdays and explore famous people who share your birthday. He then became the Managing Director, a position he held until his passing. And it was something I did very well.. 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 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. We are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. Subscribe to get the latest news, offers and special announcements. shares neither do they participated in the management of the companies during 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. Learn How rich is He in this year and how He spends money? [3], Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. 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. On August 2, 1990, Adeola and Aderinokun received a banking license No. founder and former Managing Director of Guaranty Trust Bank Plc (GTB), Olutayo Adegoke Adelabu: Remembering the great Penkelemes politician who died tragically at 43, Why the 2023 presidential election was free and fair By President Buhari, How the states voted: Full result of the 2023 Presidential election, Lets team up to put broken pieces together Bola Tinubu tells opposition candidates amid call for poll cancellation, I agree to be your servant and not leader Tinubu declares in acceptance speech, Bola Tinubu polls lowest votes by a Nigerian presidential election winner since 1999 to emerge 16th president, How Iyalode Wuraola Esan Became Nigerias First Female Senator, How World War II led to salt scarcity in Nigeria and forced citizens back to local production, A timeline of Buharis government, his wrong policies and how hes leaving Nigerians angrier than he met them. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn held in their names in GTBank, and paying any sum declared as dividends 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. LATE GTB GMD, MR TAYO ADERINOKUN. During his time as the CEO the bank won the following awards. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. See Also: Biography & Success Story Of Theophilus Danjuma: Founder Of Nigeria America Line. As a young banker,he . One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. In the ensuing legal battle, Oluwatise Aderinokun who is suing GTBank and other respondents 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 GTBank, held in the proxies names and in the name of her late father, Olutayo Aderinokun, is wrong and breach of the implied contract between the defendants and her late father. Mga tita, help. Aderinokun, is wrong and breach of the implied contract between the defendants This story was first published on May 29, 2020 and has been updated with recent information about GTBank. You have selected an article from the AllAfrica archive, which requires a subscription. To address comments or complaints, please Contact us. Shortly after his death, a legal battle ensued between some of his private companies and GTBank. [1] [2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. 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. Tayo Ricci's biography. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. Olutayo Aderinokunpronunciation (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. The bank became listed on the Nigerian Stock Exchange in 1996. 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. Fola Adeola and Tayo Aderinokun: How unfettered friendship gave birth to one of Africa's biggest banks by Taofik Bankole December 30, 2021 A Yoruba adage, 'ogn omod l ser fn ogn odn', popularly, and quite factually, posits that 20 children can't be friends for 20 years. 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. He acquired his assets and GTBanks shares 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. We recommend you to check the complete list of Famous People born on 8 May. 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. 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. before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and Foray Into Banking. proxies as being the beneficial owners of the rights accruing to the shares For late Tayo Aderinokus wife, Salamatu, new lease of life. 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. Fola Adeola was born in Nigeria on the 1st of January 1954. "By the power vested in me, I now pronounce you husband and wife. The plaintiff, in her statement of claim filed protecting strategy via corporate vehicles. [16][4] She is the co-founder, COO and VP Engineering of Helicarrier, which builds cryptocurrency infrastructure for Africa.[17]. 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. The family of late Olorogun Michael Christopher Ibru (aka the Fisherman) is a clear example. 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! However, Olumide Aju, lawyer representing 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. 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. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. Learn more about our use of cookies. His net worth has been growing significantly in 2021-2022. We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. I Stand Behind Buhari In Confidence Tinubu. 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