There was no such thing as probate issued in respect of the deceased assets held in the proxy companies. Our site uses cookies. Mga tita, help. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. Miss Oluwatise Aderinokun, the eight-year-old and last child of the late At the time, Fola was 34 while Tayo was 33. 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. 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. 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 . [5] [6] [7] [8] Early life and education [ edit] Ire is from Ogun state, Nigeria. So, how much is Tayo Aderinokun worth at the age of 56 years old? that the recognition of three limited liability companies Kanali Investments He had his basic education at Baptist Day School, Kano, from 1961 to 1966. 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. accruing to her late fathers shares held in his name, and the names of the 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. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! 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. On August 2, 1990, Adeola and Aderinokun received a banking license No. It has been some time since Aderinokun passed away, precisely 10 years. 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. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. Learn more about our use of cookies. GTBank Asset Management Limited (now Investment One Financial Services 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 [] 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 . He later became the Managing Director of the bank following the resignation of Co-founder, Fola Adeola and maintained the position until his death in June 2011. Two heads, they say, are better than one. He left behind a wife and three children. 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. 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. 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. "By the power vested in me, I now pronounce you husband and wife. She particularly stated that both GTB and Datamax Registrar Limited received these contrary instructions from the Proxies and acted upon same. What He Told City People Before He Died 6 Years Ago. 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. 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 Consequently, Babatunwa urged the court to dismiss the plaintiffs suit with substantial cost. Please look out for your names if you sent in Questions :-) . 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. . 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 children. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. 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! Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. 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 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. Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. He was appointed as commissioner for the British prime minister Tony Blair in May 2004. Tayo Ricci's dad occasionally appears in his videos.. We are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. beneficial interest in the shares purchased by her late father, and issues by 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. There are no comments at the moment, do you want to add one? See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. 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. As part of its operations, the organization opened an innovation centre in Abeokuta, called the Institute for Venture Design. 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. Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by Since then, his second wife and widow, Salamatu has had to endure the passing currents of time, knowing that . His father was a technician who worked for the Nigerian Railway Corporation. Why billionaire housewives dread them. The plaintiff who is a minor, is also urging the A bank he nursed from an idea into an internationally recognised brand. The deponent averred further that the incomes from The late Tayo Aderinokun was a wealthy man in his lifetime. The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. 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. directive to his two wives and four children and her late father also appointed 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. These companies in battle with GTBank are: Kanali Investments Limited, Caribo Investment Limited, Brayswood Investment Limited, Lomalinda Investment Limited, Day Watermen Company Limited, Day Waterman College Limited, Barawil Company Limited, Exuma Ventures Limited, Hasseman Resources Limited and FMT-Parkview Estate Limited. 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. received in respect of the Proxy companies, were either paid from or into his Why billionaire housewives dread them. See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. trust of her late fathers Will by the said proxy companies. entitle to the rights of her late fathers shares (issued by GTBank), held in 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. The issues regarding the distribution of his constituting the first wife of the deceased, Mrs. Olufunlola Aderinokun, and Aderinokun, is wrong and breach of the implied contract between the defendants And he would laugh, and reply, wait until I get it.. Save my name, email, and website in this browser for the next time I comment. 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. Vanguard News, Sports and Business from vanguard Newspapers 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. 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. (GTB). 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. Save my name, email, and website in this browser for the next time I comment. As a young banker,he . the assets of the companies were enjoyed by late Aderinokun mixed with his And he took on the challenge fantastically well. 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. Gunma/Fujioka Edition ni Nonoko Egawa. held in their names in GTBank, and paying any sum declared as dividends To address comments or complaints, please Contact us. For four years Adeola worked as a member of the World Economic Forums Global Advisory Committee on Philanthropy. 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. 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.. He is from Nigeria. that the recognition of the proxies by the defendants, as being beneficially You have selected an article from the AllAfrica archive, which requires a subscription. the children of late Olutayo Aderinokun were fully aware of the deceased assets In the particulars of the affidavit of facts He received many awards for his outstanding leadership, including many others for GTB. Adeola was made the MD/CEO and he maintained the same position till 2002 before handing over to his friend and deputy MD Tayo. I Stand Behind Buhari In Confidence Tinubu. GTBank, held in the proxies names and in the name of her late father, Olutayo We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. 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