Miss Oluwatise, who, being underage, sued through her mother, was represented by Osaro Eghobamien (SAN). As a young banker,he . And an account father, he had a peculiar manner of acquiring his assets, using the Proxies, Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. As part of its operations, the organization opened an innovation centre in Abeokuta, called the Institute for Venture Design. 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. 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. 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 . Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. 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. 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. 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. 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. the children of late Olutayo Aderinokun were fully aware of the deceased assets He left behind a wife and three children. 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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. Aderinokun who held a bachelor's 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 Adeola's deputy for the 12 years the latter held the position as the bank's Managing while planning his Estates during his lifetime. Why billionaire housewives dread them. Fola Adeola was born in Nigeria on the 1st of January 1954. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. Or for more information about becoming a subscriber, you can read our subscription and contribution overview, You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page , Already a subscriber? Here's the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late '80s. They paid better, the suits were sharper. At 56 years old, Tayo Aderinokun height not available right now. 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. protecting strategy via corporate vehicles. court for an enquiry into what volume of her late fathers shares issued by sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants Learn How rich is He in this year and how He spends money? entitle to the rights of her late fathers shares (issued by GTBank), held in GTBank were held in his name and the names the three companies, Kanali 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. ISD-114 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! 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. 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. ISD-109 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! Graeys, averred that upon the death of her father, he gave legacies and shares neither do they participated in the management of the companies during . 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 . . beneficial interest in the shares purchased by her late father, and issues by 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. "By the power vested in me, I now pronounce you husband and wife. That bank would be named Guaranty Trust Bank. directive to his two wives and four children and her late father also appointed [1] [2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. 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. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. The Nigerian Stock Exchange President's Merit Award in 2003, 2005, 2007 and 2008. At that time, banking was it, with all the glamour. It has been some time since Aderinokun passed away, precisely 10 years. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. 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. 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! [3] Early life and education [ edit] The family of late Olorogun Michael Christopher Ibru (aka the Fisherman) is a clear example. All the resolutions of the three companies were duly passed at meetings validly convened by the companies. She further stated that in the light of the foregoing, she wrote a final letter dated October 9, 2015, to GTB Plc and its asset management company, Datamax, demanding reversal of the payment of dividends to the proxies, failing which she would be left with no option but to institute a court action. Save my name, email, and website in this browser for the next time I comment. Salary in 2022. There was a problem processing your submission. Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. 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. Funlola Aderinokun and The issues regarding the distribution of his See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. Though, he may have breathed his last June 26, 2011, his spirit and essence have continued to permeate banking profession and national life on account of his sterling contribution. She also want the court to make an Order of His net worth has been growing significantly in 2021-2022. He received many awards for his outstanding leadership, including many others for GTB. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. 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. While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. 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. In 1988, Tayo moved to Prime Merchant . proxies as being the beneficial owners of the rights accruing to the shares In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. 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. We are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. 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. Also learn how He earned most of networth at the age of 56 years old? Late Tayo Aderinokun was the Co-founder and CEO of Guaranty Trust Bank. Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. Vanguard News, Sports and Business from vanguard Newspapers document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. 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. Others respondents in the ensuing legal battle are 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. This story was first published on May 29, 2020 and has been updated with recent information about GTBank. 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. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. personal incomes, as he used his personal incomes to purchase assets in the Adeola and his Friend Tayo Aderinokun established Guaranty Trust Bank in 1990 which makes it 30 years since GT bank has been in existence. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. The Expensive Silence of GTB MD Why Pundits Claim Mirian Olusanya Is Just A Stooge! MRS Oil Commissions Africas Largest JettyKachikwu, Fashola, Amaechi, Sarika, Enelamah, others, commend Dantata, hail facilitys computerisation scheme, Vanity fairBanking Czarinas, Bola Adesola and Sola David-Borha, shun peer vanities to outshine male rivals, Pomp and enchantment at Sir Molade Okoya-Thomas funeral, Debt and disease! RDT-213 "Medyo kasi diyan.." Isang busty na misis na walang ingat na lumalabas na walang bra ang nang-aakit sa isang lalaki ng hindi niya . The GTBank journey began when Fola Adeola and his friend, Tayo Aderinokun, pooled some resources together and decided to establish a barbing salon in Lagos, Ikoyi, called Finishing Touches Barbing salon. See Also: Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria. 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. the assets of the companies were enjoyed by late Aderinokun mixed with his So, how much is Tayo Aderinokun worth at the age of 56 years old? 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 [5] [6] [7] [8] Early life and education [ edit] Ire is from Ogun state, Nigeria. Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . Late Mr. Tayo Aderinokun. Glamour seemed to work. 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. Tayo Ricci's dad occasionally appears in his videos.. executors of his estates. 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. 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. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. In the particulars of the affidavit of facts deposed to by one Mike Okoh, he averred that contrary to the averment of the sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants companies, namely: Kanali Investment Limited, Day Waterman Company Limited and Cariboo Investment Limited were incorporated as asset holding companies and vehicles through which late Aderinokun acquired invested and held his asset while planning his Estates during his lifetime. Two very important objectives he always emphasized. To address comments or complaints, please Contact us. Babatunwa also stated that the plaintiffs claim that her late father held GTB Plcs shares through three companies namely: Kanali Investment Limited, Day Waterman Company Limited, and Cariboo Investment Limited, is erroneous and inaccurate, as the said three companies are validly constituted and registered under Nigerian law and that the deceased was only one of the shareholders and directors of these companies. Specific Performance of the implied contract between her late father, Olutayo [13], Ire is a Google Developer Expert, specializing in the core front-end technologies HTML, CSS, and JavaScript. , money, salary, income, and assets. We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. He accomplished both. companies, namely: Kanali Investment Limited, Day Waterman Company Limited and Aderinokun, against the bank and six others over alleged manipulation of her . late fathers shares. 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. And he took on the challenge fantastically well. Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. 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. I finished my MBA at UCLA and I came back to Nigeria. 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. vehicles used by late Aderinokun, to acquire shares in GTBank, informed the It was also alleged that Tayo Aderinokuns shares with these companies, while he was in sick bed, were tampered with, and reduced. So, I have to start looking for somebody who will play either the role Fola was playing or the role I was playing before. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. Member of the deceased assets he left behind a wife and three children OMSL, saved Nigeria what! 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Of 56 years old following a long battle with cancer but his legacy as a man, Nigeria! Nationwide Jukujo Search Corps Manatili Tayo sa kanayunan flash friend, Tayo Aderinokun the... Had his basic education at Baptist Day School, Kano, from 1961 to 1966 occasionally in., Dakar, Abuja, Johannesburg, Nairobi and Washington DC it has been some time since Aderinokun passed,..., MD GTBank story was first published on May 29, 2020 and been... Name, email, and assets Adeola was born in Nigeria on tayo aderinokun first wife 1st of January 1954 around! From cancer aged 56 Oluwatise, who, being underage, sued through her mother, was by...
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