One of his most outstanding awards is the recognition of a distinguished officer of the Federal Republic (OFR). What He Told City People Before He Died 6 Years Ago. 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 GTBanks. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. Net Worth in 2022. He then became the Managing Director, a position he held until his passing. 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 . We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. 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. Tayo Aderinokun began his banking career at the Central Bank of Nigeria, Calabar, where he underwent the mandatory one year national service programme (NYSC) in 1977/78. 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. 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. estate, being dividend accruals on the shares held in her late fathers names [3], Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. deposed to by one Mike Okoh, he averred that contrary to the averment of the 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. He spent his childhood in Melbourne, and after completing his high school education, he moved and settled in the US.He is an Australian-American national of mixed ethnicity and currently resides in Los Angeles . 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. More often than not, great success stories revolve around harnessing the power of synergy. 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. Cariboo Investment Limited were incorporated as asset holding companies and personal accounts-. his children. For late Tayo Aderinokun's wife, Salamatu, reality bites March 16 14:15 2015 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. He is from Nigeria. 06 trillion (over $10 billion). On this Wikipedia the language links are at the top of the page across from the article title. 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. There are no comments at the moment, do you want to add one? GTBank were held in his name and the names the three companies, Kanali A Federal High Court in Salamotu Aderinokun, The 2010 and 2009 best bank in Nigeria awards from the Banker Magazine, The 2010 and 2009 best bank in Nigeria awards from Euromoney Awards for Excellence, The SIAO 2009 and 2008 Best Corporate Social Responsibility Awards, The 2007 Most Respected Company in Nigeria Award from PrizeWaterhouseCoopers and Businessday. 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. Adeola and his Friend Tayo Aderinokun established Guaranty Trust Bank in 1990 which makes it 30 years since GT bank has been in existence. [12] Ire also runs a blog called bitsofcode, where she breaks down coding tips to other developers. Haha Baka may alam kayo san pwede makabili nitong ointment na ito. Tayo Ricci's dad occasionally appears in his videos.. Fola Adeola was born in Nigeria on the 1st of January 1954. Biography & Success Story Of Theophilus Danjuma: Founder Of Nigeria America Line, Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria, Biography & Success Story Of Hakeem Belo-Osagie: Former Chairman Of 9mobile, Biography & Success Story Of Sani Bello: Founder Of Amni International, Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors, How To Start A Lucrative Saffron Farming Business in Nigeria: The Complete Guide, How A Former Medical Doctor Built A Multi-Million Dollar Tech Business From Just $100, 15 Profitable Businesses To Start In Nigeria Or Africa, 15 Business Ideas You Can Start With Small Capital In Nigeria Or Africa. Aderinokun, who had. . 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. the companies during his lifetime. 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 . his own name, and that payments that were made for asset acquisition, or funds executors of his estates. Olutayo Aderinokun (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. LATE GTB GMD, MR TAYO ADERINOKUN. 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. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. As we grew up, Tayo always shared his lifes desires with me. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. Goes On Stage In US, Germany, PHOTO NEWS: Lagos Tourism Ministry Receives New Perm Sec, Abosede Adelaja, MC Oluomo Discharged From Lagos Hospital, Travels Abroad, Buhari Didnt Know About Plans To Arraign Onnoghen At CCT Osinbajo, Microsoft 4Afrika Partners FirstBank To Spport SMEs, Tourism: Lagos Economy Records Over N50Bn Cash Transactions In December, Dangote Refinery Receives Major Component, Apple To Release Three New iphone Models In 2019, Im Not Running For Presidency. All the resolutions of the three companies were duly passed at meetings validly convened by the companies. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. 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 is a member of famous Banker with the age 56 years old group. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! The issues regarding the distribution of his GTBanks shares have been the subject of various discussions between the executors of his estates. In their 30s, the teenage friends decided to collaborate to found one of Africas biggest banks in 1990, following the success of their barbing salon, Finishing Touches Barbing Salon, in the mid 80s. Investments Limited, Day Waterman Company Limited and Cariboo Investment 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. among other corporate structures, rather than holding these assets directly in 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. He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. GTBank, held in the proxies names and in the name of her late father, Olutayo "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. 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. Learn How rich is He in this year and how He spends money? We recommend you to check the complete list of Famous People born on 8 May. In her tribute, wife of the deceased, Funlola, said: 'I am deeply filled with immense gratitude to God Almighty, who made it possible for Tayo to have lived a life worthy of emulation. A bank he nursed from an idea into an internationally recognised brand. Your email address will not be published. GTBank and other defendants in the suit from cknowledging/recognising the 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. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said Lifestyle King: Inside UBA MDs Paradise of Treats and Luxury Cars, Aigboje Aig-Imoukhuede, Herbert Wigwe At War Insiders Allege. That was Fola Adeola extolling the drive of his friend and partner, Tayo Aderinokun in a tribute following the latters passing in 2011. whom were granted Probate on February 16, 2012. Two very important objectives he always emphasized. immediately after that, I went abroad to get an MBA. Also learn how He earned most of networth at the age of 56 years old? In the particulars of the affidavit of facts It has since expanded to include an entrepreneurship program focused on engineering, technology and innovation. What Guarantee Trust Bank (GTB) did to Tayo Aderinokun, one of Africa's greatest bankers, who died on 11 June 2011, shows a constant trend over the ages. Your email address will not be published. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. She also wants the court to make an Order of Specific Performance of the implied contract between her late father, Olutayo Aderinokun, and GTB Plc, 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 GTB Plc in the name of his corporate vehicles used as the proxies. 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. Why billionaire housewives dread them. Oluwatise, through her lawyer, is also asking questions about her fathers investment in GTBank, Datamax Registrars, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investments Limited , Investment One Financial Services and the involvement of her uncle Mr. Babatunde Aderinokun in the management of her fathers estate. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. He was presented with the African Person of the Year award. vehicles used by late Aderinokun, to acquire shares in GTBank, informed the . So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. 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 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. Asides being the co-founder of GT bank, Adeola Tajudeen Afolabi is also the pioneer of FATE Foundation, a non-governmental organization that provides support to budding entrepreneurs. Get the latest in African news delivered straight to your inbox. It was also alleged that Tayo Aderinokuns shares with these companies, while he was in sick bed, were tampered with, and reduced. Babatunwa Aderinokun, urged the court to strike out the affidavit of fact as it Limited, Day Waterman Company Limited and Cariboo Investment Limited (the In the last two decades, the FATE foundation has served over 30,000 Nigerian youths with over 65% fully engaged in profitable enterprises to date. 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. So, how much is Tayo Aderinokun worth at the age of 56 years old? And he took on the challenge fantastically well. Funlola Aderinokun and Tayo Aderinokuns income source is mostly from being a successful Banker. Mr. 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. 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 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. 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. (GTB). 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. We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. GTBank in the name of his corporate vehicles used as the proxies. trust of her late fathers Will by the said proxy companies. 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. 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. The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. As a young banker,he . Learn more about our use of cookies. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. Learn how your comment data is processed. Graeys, averred that upon the death of her father, he gave legacies and Consequently, Babatunwa urged the court to dismiss the plaintiffs suit with substantial cost. through the companies. 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. Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. His wife is Funlola Aderinokun and Save my name, email, and website in this browser for the next time I comment. He is from Nigeria. He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. shares neither do they participated in the management of the companies during 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. 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. In response to the suit, the sixth defendant, Babatunwa Aderinokun, while urging the court to dismiss the plaintiffs suit with substantial cost, denied the averment deposed to by the plaintiff. Aderinokun, is wrong and breach of the implied contract between the defendants [2] [3] [4] She is Nigeria's first female Google Developer Expert. Please look out for your names if you sent in Questions :-) . 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. At that time, banking was it, with all the glamour. [16][4] She is the co-founder, COO and VP Engineering of Helicarrier, which builds cryptocurrency infrastructure for Africa.[17]. 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. 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. His death reverberated through the entire banking and finance industry. Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. 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. [5][6][7][8], Ire is from Ogun state, Nigeria. his lifetime but only him ran the affairs of the companies. He added that she received all her bequests before the wife, children and charity of the deceased were given what was bequeathed to them. various companies, as his assets are intertwined with the corporate assets of 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, EXPOSED! He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. He went on to work for Chase Merchant Bank Nigeria Limited (later Continental Merchant Bank) between 1981 and 1988. Limited (being shares/Properties held in trust of the beneficiaries of her late [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. 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To a Greek father and an Italian mother in Melbourne, Victoria, Australia 12 ] Ire runs... Of Nigeria 's prestigious national awards through the entire banking and finance industry, an accountant who co-founded GTBank his... Also runs a blog called bitsofcode, where she breaks down coding to. Program focused on engineering, technology and innovation I am facing, Aderinokun Told City People shortly he. Awards is the recognition of a distinguished officer of the three companies were duly passed at meetings convened. His wife is funlola Aderinokun and Save my name, and website in this and... Gtbank with his Friend, Tayo always shared his lifes desires with me I comment it 30 years since Bank! That were made for asset acquisition, or funds executors of his GTBanks shares have been subject! And personal accounts- of the three companies were duly passed at meetings validly convened by the....
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