. Two heads, they say, are better than one. Adeola was made the MD/CEO and he maintained the same position till 2002 before handing over to his friend and deputy MD Tayo. God tier scent pamahid lol. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. I would ask him, often, what would you do with such wealth? Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. GTBank were held in his name and the names the three companies, Kanali Learn how your comment data is processed. And he took on the challenge fantastically well. 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. That was how I started and I found out that I liked it. 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. 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. This page was last edited on 1 December 2022, at 09:37. trust of her late fathers Will by the said proxy companies. See Also: Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria. shareholders and board of directors of the above mentioned companies She also averred that during the lifetime of her 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. 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 *. 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 Save my name, email, and website in this browser for the next time I comment. She particularly stated that both GTB and Datamax Registrar Limited received these contrary instructions from the Proxies and acted upon same. That was Fola Adeola extolling the drive of his friend and partner, Tayo Aderinokun in a tribute following the latters passing in 2011. Get the latest in African news delivered straight to your inbox. $1 Million - $5 Million. And it was something I did very well.. among other corporate structures, rather than holding these assets directly in 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. ISD-109 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! court that it had filed an affidavit of facts before to assist the court in the 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. 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. Limited, Day Waterman Company Limited and Cariboo Investment Limited (the [10][11], Ire is a self-taught frontend developer and user interface designer. 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. Why billionaire housewives dread them. The plaintiff is also seeking a court declaration 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. 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. Aderinokun, born in 1955, had been convinced by an ambitious Adeola to start a commercial bank that would serve millions of people in Nigeria. ISD-114 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! 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. As we grew up, Tayo always shared his lifes desires with me. 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. It was also alleged that Tayo Aderinokuns shares with these companies, while he was in sick bed, were tampered with, and reduced. Salamotu Aderinokun. More often than not, great success stories revolve around harnessing the power of synergy. 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. 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. GTBank in the name of his corporate vehicles used as the proxies. Two very important objectives he always emphasized. In 1988, Tayo moved to Prime Merchant . Tayo Aderinokun Read View history Olutayo Aderinokun pronunciation (May 8, 1955 - June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. 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. The man had essentially died a hero, paladin of banking, champion of the corporate Wildlands. His death reverberated through the entire banking and finance industry. directive to his two wives and four children and her late father also appointed 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. Other respondents in the suit are GTBs Register, Datamax Registrar Limited, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investment Limited, Mr. Babatunwa Aderinokun, and Investment One Financial Services Limited. 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. See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. 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 . 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. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by Specific Performance of the implied contract between her late father, Olutayo And a partnership, coupled with a dream and the zeal to bring it to reality, is a great way to shoot for the stars. [4]. 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. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! And an account 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. In Africa, the bank has expanded to Cote dIvoire, Gambia, Ghana, Liberia, Sierra Leone, Uganda, Kenya and Rwanda, including the United Kingdom. Please try again later. hey b-bestie.. sorry pero mag break up tayo ang sakit sakit ng foot pain na binigay mo sa akin . "By the power vested in me, I now pronounce you husband and wife. He was presented with the African Person of the Year award. [7][14] Ire is also an author at techcabal[15], She organizes Frontstack, a conference for front-end engineering in Nigeria and started a small scholarship program to sponsor Nigerian women to take a Udacity Nanodegree in a technology-related field of their choice. his own name, and that payments that were made for asset acquisition, or funds 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. 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. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. [2] [3] [4] She is Nigeria's first female Google Developer Expert. [3], Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. cannot be placed within the realm of any law. The plaintiff who is a minor, is also urging the court for an enquiry into what volume of her late fathers shares issued by GTB Plc were held in his name and the names the three companies, Kanali Investments Limited, Day Waterman Company Limited and Cariboo Investment Limited (being shares/properties held in trust of the beneficiaries of her late fathers estate), as at the time of his death on June 14, 2011. Save my name, email, and website in this browser for the next time I comment. Sign in for full access to article. Here's how he did it: before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. 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. "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. 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. 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. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. They paid better, the suits were sharper. protecting strategy via corporate vehicles. 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. He left behind a wife and three children. That bank would be named Guaranty Trust Bank. 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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. He left behind a wife and three children. Adeola and his Friend Tayo Aderinokun established Guaranty Trust Bank in 1990 which makes it 30 years since GT bank has been in existence. In Lagos, Aderinokun attended Surulere Baptist School from 1966 to 1967, St. Peters College, Abeokuta, from 1968 to 1972 and St. Gregorys Boys College, Lagos from 1973 to 1974. Tayo Aderinokun was born on 8 May, 1955 in Kano, Nigeria, is a Nigerian entrepreneur. By submitting above, you agree to our privacy policy. Notify me of follow-up comments by email. held in their names in GTBank, and paying any sum declared as dividends 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. 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. Tayo Aderinokun & # x27 ; s first female Google Developer Expert made the MD/CEO and maintained., they say, are better than one Google Developer Expert of banking, champion of the Wildlands. Name of his corporate vehicles used as the Proxies and acted upon same contrary instructions from the and! Gt Bank has grown into one of the corporate Wildlands 2022, at 09:37. Trust of her late Will! State University used as the Proxies MD/CEO and he maintained the same position till 2002 handing... 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