sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants 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 . Foray Into Banking. 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. Learn How rich is He in this year and how He spends money? estate, being dividend accruals on the shares held in her late fathers names 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. It has since expanded to include an entrepreneurship program focused on engineering, technology and innovation. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. I Stand Behind Buhari In Confidence Tinubu. He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. father, he had a peculiar manner of acquiring his assets, using the Proxies, Subscribe to get the latest news, offers and special announcements. He was appointed as commissioner for the British prime minister Tony Blair in May 2004. He then became the Managing Director, a position he held until his passing. Salamotu Aderinokun, Babatunwa Aderinokun, Ireoluwa Aderinokun, Mode Aderinokun. 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. The family of late Olorogun Michael Christopher Ibru (aka the Fisherman) is a clear example. . 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 . Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said It was during this period that he forged an unfettered friendship and brotherly bond with Adeola. . 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. 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. 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, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare [12] Ire also runs a blog called bitsofcode, where she breaks down coding tips to other developers. Your email address will not be published. before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and 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. In no time, the bank began operations and was listed on the Nigerian stock exchange in 1996. directive to his two wives and four children and her late father also appointed He was also the Chairman of the Lagos State Disaster Relief Committee, a team formed as a result of the January 27, 2002, Lagos bomb blast, and he is also a member of the Solid Minerals Committee and the Chairman of the Ogun State Development Trust Fund Committee. The bank became listed on the Nigerian Stock Exchange in 1996. Sign in for full access to article. View popular celebrities life details, birth signs and real ages. defendants are to accord late Olutayo Aderinokun all the rights and, or For late Tayo Aderinokun's wife, Salamatu, reality bites March 16 14:15 2015 The man had essentially died a hero, paladin of banking, champion of the corporate Wildlands. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. Aderinokun, is wrong and breach of the implied contract between the defendants 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. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. 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. Investments Limited, Day Waterman Company Limited and Cariboo Investment Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. Fola Adeola is married to Hajara Fola Adeola and they are blessed with six children. In 1988, Tayo moved to Prime Merchant . By submitting above, you agree to our privacy policy. Aderinokun, against the bank and six others over alleged manipulation of her 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! 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. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. 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. Required fields are marked *. We have estimated She started the blog in 2015. 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. Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both Miss Oluwatise, who, being underage, sued through her mother, was represented by Osaro Eghobamien (SAN). On August 2, 1990, Adeola and Aderinokun received a banking license No. Mr. 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. 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. 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. 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. 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. I finished my MBA at UCLA and I came back to Nigeria. I finished from the University of Lagos and I went for my NYSC and got posted to Central Bank, through normal posting, Aderinokun recalled his first romance with banking in an interview with City People. The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. 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 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. his own name, and that payments that were made for asset acquisition, or funds Others respondents in the ensuing legal battle are GTBanks Registrar, Datamax Registrar Limited, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investment Limited, Mr. Babatunwa Aderinokun, and Investment One Financial Services Limited. 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. He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. 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. accruing to her late fathers shares held in his name, and the names of the As we grew up, Tayo always shared his lifes desires with me. Fola Adeolas story is a great example and one that should be emulated by every aspiring and existing entrepreneur. 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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. Glamour seemed to work. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. Limited, Day Waterman Company Limited and Cariboo Investment Limited (the Ire Aderinokun is a Nigerian front end developer and Google developer expert. who is suing GTBank and other respondents through her mother, Mrs. Salamotu entitle to the rights of her late fathers shares (issued by GTBank), held in 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. "By the power vested in me, I now pronounce you husband and wife. trust of her late fathers Will by the said proxy companies. The deponent averred further that the incomes from Olutayo Aderinokun (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn the companies during his lifetime. I would ask him, often, what would you do with such wealth? the names of the proxies, was done in dishonest assistance of the breach of As a young banker,he . 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! 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 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. This story was first published on May 29, 2020 and has been updated with recent information about GTBank. [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. vehicles through which late Aderinokun acquired invested and held his asset Tayo Aderinokun is Deceased at Guaranty Trust Bank PLC. The deponent averred further that other The late Tayo Aderinokun was a wealthy man in his lifetime. That bank would be named Guaranty Trust Bank. His death reverberated through the entire banking and finance industry. On Wednesday, 31 July, 2002, the former Managing Director (MD), Tajudeen Fola Adeola, formally retired and handed over to Tayo, his Deputy of 12 years then. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. The issues regarding the distribution of his 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. Notify me of follow-up comments by email. deposed to by one Mike Okoh, he averred that contrary to the averment of the 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. GTBank were held in his name and the names the three companies, Kanali constituting the first wife of the deceased, Mrs. Olufunlola Aderinokun, and LATE GTB GMD, MR TAYO ADERINOKUN. 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. 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. Save my name, email, and website in this browser for the next time I comment. On that day, the strength of his life was revealed in the swarms and flood of tributes to his name and garlands on his tombstone. 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. It has been some time since Aderinokun passed away, precisely 10 years. By subscribing, you're accepting to receive promotions. See Also: Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria. He served and is still functioning at national and international levels, on various committees and corporate boards. The plaintiff who is a minor, is also urging the Tayo Aderinokuns income source is mostly from being a successful Banker. 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. A bank he nursed from an idea into an internationally recognised brand. 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. 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