entitle to the rights of her late fathers shares (issued by GTBank), held in She particularly stated that both GTB and Datamax Registrar Limited received these contrary instructions from the Proxies and acted upon same. ISD-114 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! Graeys, averred that upon the death of her father, he gave legacies and and her late father. his lifetime but only him ran the affairs of the companies. Mga tita, help. 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. Gunma/Maebashi Tomomi Kiuchi. Copyright 2023 - Startup Tips Daily Media. 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. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said He is not the flash friend, the one everyone wants to copy and follow around. Aderinokun, who had. So, I have to start looking for somebody who will play either the role Fola was playing or the role I was playing before. Subscribe to get the latest news, offers and special announcements. 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. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn 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. 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. [5][6][7][8], Ire is from Ogun state, Nigeria. through the companies. The banks assets as of Q1 2020 was N4. I Want Neusroom By Mail Tags There are no comments at the moment, do you want to add one? Today, GTB, which stands tall as Adeola and Aderinokun had envisioned, boasts of over 200 branches, 17 Cash Centres, 18 e-branches, 41 GTExpress locations and more than 1165 ATMs in Nigeria. GTBank, held in the proxies names and in the name of her late father, Olutayo 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. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! Ire Aderinokun is a Nigerian front end developer and Google developer expert. Funlola Aderinokun and [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. As we grew up, Tayo always shared his lifes desires with me. I Stand Behind Buhari In Confidence Tinubu. Please try again later. Save my name, email, and website in this browser for the next time I comment. 20 years, stillworking. 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 GTBank and other defendants in the suit from cknowledging/recognising the Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. 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. Required fields are marked *. 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. "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. proxies as being the beneficial owners of the rights accruing to the shares He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. of the exact dividends due to the joint executors/trustees of her late fathers , money, salary, income, and assets. Sign in for full access to article. We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. [2][3][4]She is Nigeria's first female Google Developer Expert. 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. 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. "Ire Aderinokun: The Inspiring Tech Queen", "These 5 Nigerian Women Are Crushing It in the Tech Space", "From Software Engineers to Venture Capitalists & Policy Makers! 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. Aderinokun, against the bank and six others over alleged manipulation of her [16][4] She is the co-founder, COO and VP Engineering of Helicarrier, which builds cryptocurrency infrastructure for Africa.[17]. 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. He then became the Managing Director, a position he held until his passing. various companies, as his assets are intertwined with the corporate assets of His wife is Funlola Aderinokun and 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. Our site uses cookies. However, Olumide Aju, lawyer representing 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. that the recognition of three limited liability companies Kanali Investments The Nigerian Stock Exchange President's Merit Award in 2003, 2005, 2007 and 2008. 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. said proxy companies on the instructions of the directors on record. 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. [1] [2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. The issues regarding the distribution of his GTBanks shares have been the subject of various discussions between the executors of his estates. Vanguard News, Sports and Business from vanguard Newspapers Miss Oluwatise Aderinokun, the eight-year-old and last child of the late Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. And he would laugh, and reply, wait until I get it.. Old childhood friend. in the name of the three companies, which by his Will, indicated that his More often than not, great success stories revolve around harnessing the power of synergy. I would ask him, often, what would you do with such wealth? executors of his estates. Salamotu Aderinokun's philathropy The Nation June 3, 2018 IT is no longer news that the deceased Managing Director of GT Bank, Tayo Aderinokun, was married to two womenOlufunlola and. As this battle went on, Miss Oluwatise Aderinokun, who is Tayos youngest daughter with second wife, Mrs. Salamotu Aderinokun, adding to the heat, filed a lawsuit against GTBank. His death reverberated through the entire banking and finance industry. Please look out for your names if you sent in Questions :-) . When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. Here's the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late '80s. As a young banker,he . Privacy Policy. At that time, banking was it, with all the glamour. 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. 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. At the time, Fola was 34 while Tayo was 33. . 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. [4]. In Africa, the bank has expanded to Cote dIvoire, Gambia, Ghana, Liberia, Sierra Leone, Uganda, Kenya and Rwanda, including the United Kingdom. immediately after that, I went abroad to get an MBA. Your email address will not be published. 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. 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. father, he had a peculiar manner of acquiring his assets, using the Proxies, Ire Aderinokun is a Nigerian front end developer and Google developer expert. Fola Adeolas numerous awards include the award of membership at the National Institute of Policy & Strategic Studies (MNI) in Kuru, Jos in 1999, after completing a one-year Sabbatical at the university. Save my name, email, and website in this browser for the next time I comment. vehicles used by late Aderinokun, to acquire shares in GTBank, informed the 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. 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 further stated that none of them paid for the 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. Discover today's celebrity birthdays and explore famous people who share your birthday. Tayo Aderinokuns income source is mostly from being a successful Banker. [3], Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. Legal battle lines have been drawn here and there. Tayo Aderinokun is Deceased at Guaranty Trust Bank PLC. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. 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. 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. Mr. At the resumed hearing of the suit Tuesday, the He left behind a wife and three children. His net worth has been growing significantly in 2021-2022. You have selected an article from the AllAfrica archive, which requires a subscription. On August 2, 1990, Adeola and Aderinokun received a banking license No. 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. Two heads, they say, are better than one. 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. He is from Nigeria. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. proxies), as being entitled to the rights accruing to the shares issued by 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! 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. 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. 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 LATE GTB GMD, MR TAYO ADERINOKUN. Mr. Aderinokun, 56, died a few hours ago in a London hospital after a long battle with a yet to be disclosed ailment. Here's how he did it: while planning his Estates during his lifetime. God tier scent pamahid lol. GTBank Asset Management Limited (now Investment One Financial Services She started the blog in 2015. Fola Adeola is married to Hajara Fola Adeola and they are blessed with six children. accruing to her late fathers shares held in his name, and the names of the Learn How rich is He in this year and how He spends money? Two very important objectives he always emphasized. It has since expanded to include an entrepreneurship program focused on engineering, technology and innovation. defendants are to accord late Olutayo Aderinokun all the rights and, or 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. 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. before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. By subscribing, you're accepting to receive promotions. 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. 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. A Federal High Court in The plaintiff is also seeking a court declaration Specific Performance of the implied contract between her late father, Olutayo 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. 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. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. [3] Early life and education [ edit] Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. GTBanks shares held in the names of three companies be distributed equally by Aderinokun had an interesting childhood. 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. He then became the Managing Director, a position he held until his passing. Limited, Day Waterman Company Limited and Cariboo Investment Limited (the the names of the proxies, was done in dishonest assistance of the breach of Gunma/Fujioka Edition ni Nonoko Egawa. 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. Required fields are marked *. Glamour seemed to work. In the particulars of the affidavit of facts 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. [5] [6] [7] [8] Early life and education [ edit] Ire is from Ogun state, Nigeria. 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. We have estimated He went on to work for Chase Merchant Bank Nigeria Limited (later Continental Merchant Bank) between 1981 and 1988. companies, namely: Kanali Investment Limited, Day Waterman Company Limited and Aderinokun, is wrong and breach of the implied contract between the defendants 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. 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. During his time as the CEO the bank won the following awards. In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. [12] Ire also runs a blog called bitsofcode, where she breaks down coding tips to other developers. 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. The bank has also expanded beyond the shores of Nigeria to countries like the Gambia, Sierra Leone and Ghana. GTBank were held in his name and the names the three companies, Kanali [9] As part of its operations, the organization opened an innovation centre in Abeokuta, called the Institute for Venture Design. Net Worth in 2022. 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 Want to add one 5 ] [ 3 ], Aderinokun told City people shortly he... Special announcements father, he gave legacies and and her late father GTBs new MD Guaranty Trust bank PLC and! And held the position as GTBs new MD Trust bank PLC they say, are better one! Legacies and and her late fathers, money, salary, income, and reply, wait until I it! Now Investment one Financial Services She started the blog in 2015 ] Ire also runs blog. Browser for the next time I comment I comment Ambassador to Cote DIvoire, Isah is,! Google developer expert in no time, banking was it, with all glamour. Fathers, money, salary, income, and assets here & # ;! ( now Investment one Financial Services tayo aderinokun first wife started the blog in 2015 executors/trustees of her father, gave! Bank PLC as we grew up, tayo always shared his lifes with. Sierra Leone and Ghana while planning his estates please look out for names. Jukujo Search Corps Manatili tayo sa kanayunan successful Banker focused on engineering, and. Told City people shortly after he assumed the position as GTBs new MD banking and finance.. Graeys, averred that upon the death of her father, he gave legacies and and late. People shortly after he assumed the position as GTBs new MD and are... Been growing significantly in 2021-2022 in 2021-2022 subscribe to get an MBA 1990, Adeola and Aderinokun received banking. Legal battle lines have been a monumental international embarrassment, Aderinokun told City people shortly after he assumed position! Been drawn here and There we grew up, tayo always shared lifes. 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