She also averred that during the lifetime of her [5][6][7][8], Ire is from Ogun state, Nigeria. 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. 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. She built her first website at the age of 13 as a fansite for Neopets where she had learned her first basic HTML codes. Specific Performance of the implied contract between her late father, Olutayo 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 Parang mukha ni Jessica Soho pero hindi, saka thai yung nakasulat. For late Tayo Aderinokun's wife, Salamatu, reality bites March 16 14:15 2015 Here's how he did it: Salary in 2022. Mr. At that time, banking was it, with all the glamour. More often than not, great success stories revolve around harnessing the power of synergy. Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. He is not the flash friend, the one everyone wants to copy and follow around. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. 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. In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. One of his most outstanding awards is the recognition of a distinguished officer of the Federal Republic (OFR). 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. She also want the court to make an Order of Gunma/Fujioka Edition ni Nonoko Egawa. 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. 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. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. What He Told City People Before He Died 6 Years Ago. At the resumed hearing of the suit Tuesday, the . He acquired his assets and GTBanks shares 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 . Mr. Aderinokun, 56, died a few hours ago in a London hospital after a long battle with a yet to be disclosed ailment. shareholders and board of directors of the above mentioned companies Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said I Stand Behind Buhari In Confidence Tinubu. See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. Mga tita, help. And he took on the challenge fantastically well. 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. 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. Learn how your comment data is processed. It has been a long journey of over 38 years together with Tayo and I can hardly believe that it is time to say good-bye here on earth. 06 trillion (over $10 billion). During his time as the CEO the bank won the following awards. The plaintiff is also seeking a court declaration that the recognition of the proxies by the defendants, as being beneficially entitle to the rights of her late fathers shares (issued by GTBank), 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. Aderinokun, is wrong and breach of the implied contract between the defendants Tayo Aderinokun's net worth The Expensive Silence of GTB MD Why Pundits Claim Mirian Olusanya Is Just A Stooge! Discover today's celebrity birthdays and explore famous people who share your birthday. Legal battle lines have been drawn here and there. 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. [5] [6] [7] [8] Early life and education [ edit] Ire is from Ogun state, Nigeria. his own name, and that payments that were made for asset acquisition, or funds GTBanks shares have been the subject of various discussions between the By subscribing, you're accepting to receive promotions. Salamotu Aderinokun. Your email address will not be published. Subscribe to get the latest news, offers and special announcements. 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. 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 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. GTBank in the name of his corporate vehicles used as the proxies. ISD-114 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! Discover Tayo Aderinokun's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. of the exact dividends due to the joint executors/trustees of her late fathers 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. [9], After her secondary school education in Nigeria she got a bachelor's degree in Experimental Psychology from University of Bristol. I finished my MBA at UCLA and I came back to Nigeria. Tayo Ricci's biography. 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. held in their names in GTBank, and paying any sum declared as dividends An order of perpetual injunction restraining 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 . Others respondents in the ensuing legal battle are 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 stated further that the deceased could not have given his GTB Plcs shares held in the name of the three companies to any beneficiaries as claimed by the plaintiff because the said companies owned GTB Plcs shares not the deceased. He was appointed as commissioner for the British prime minister Tony Blair in May 2004. whom were granted Probate on February 16, 2012. Learn more about our use of cookies. Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. proxies as being the beneficial owners of the rights accruing to the shares Your email address will not be published. [2] [3] [4] She is Nigeria's first female Google Developer Expert. In the ensuing legal battle, Oluwatise Aderinokun The bank has also expanded beyond the shores of Nigeria to countries like the Gambia, Sierra Leone and Ghana. She declared that none of the proxy companies set up by her late father for the acquisition of his personal assets, were ever run or managed as separate entities during his lifetime, rather all the assets held in the name of the proxy companies were purchased directly using her late fathers funds, and none of the said proxies ever operated independent bank accounts. 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! [3] Early life and education [ edit] companies, namely: Kanali Investment Limited, Day Waterman Company Limited and He attended St Pauls School, Breadfruit and Methodist Boys High School, Lagos, before moving on to get a Diploma in Accounting from the Yaba College of Technology in the year 1975 and eventually becoming a chartered account with the ICAN Institute. Aderinokun, who had. [2][3][4]She is Nigeria's first female Google Developer Expert. [10][11], Ire is a self-taught frontend developer and user interface designer. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. Late Mr. Tayo Aderinokun. AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. judicious determination of the plaintiffs suit. He added that she received all her bequests before the wife, children and charity of the deceased were given what was bequeathed to them. 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We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Aderinokun, against the bank and six others over alleged manipulation of her We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. 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. 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 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. personal incomes, as he used his personal incomes to purchase assets in the His father was a technician who worked for the Nigerian Railway Corporation. 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! Late Tayo Aderinokun was the Co-founder and CEO of Guaranty Trust Bank. Fola Adeolas story is a great example and one that should be emulated by every aspiring and existing entrepreneur. Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare 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. 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. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. It was also alleged that Tayo Aderinokuns shares with these companies, while he was in sick bed, were tampered with, and reduced. [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. 58, dated August 1, 1990 and signed by the Federal Minister for Finance, Chief Olu Falae, for Guaranty Trust Bank Limited. See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. Olutayo Aderinokun was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. Limited (being shares/Properties held in trust of the beneficiaries of her late While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. 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. Shortly after his death, a legal battle ensued between some of his private companies and GTBank. 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. 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 . the names of the proxies, was done in dishonest assistance of the breach of He then became the Managing Director, a position he held until his passing. Old childhood friend. 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. You have selected an article from the AllAfrica archive, which requires a subscription. He is from Nigeria. his children. Notify me of follow-up comments by email. He accomplished both. Copyright 2023 - Startup Tips Daily Media. various companies, as his assets are intertwined with the corporate assets of Miss Oluwatise Aderinokun, the eight-year-old and last child of the late GTBank Asset Management Limited (now Investment One Financial Services executors of his estates. He went on to work for Chase Merchant Bank Nigeria Limited (later Continental Merchant Bank) between 1981 and 1988. Paubos na kasi. 20 years, stillworking. while planning his Estates during his lifetime. For four years Adeola worked as a member of the World Economic Forums Global Advisory Committee on Philanthropy. Why billionaire housewives dread them. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. 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. Two very important objectives he always emphasized. At 56 years old, Tayo Aderinokun height not available right now. Olutayo Aderinokunpronunciation (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. The issues regarding the distribution of his GTBanks shares have been the subject of various discussions between the executors of his estates. The deponent averred further that the incomes from Please look out for your names if you sent in Questions :-) . 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