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. [10][11], Ire is a self-taught frontend developer and user interface designer. I finished my MBA at UCLA and I came back to Nigeria. That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. Save my name, email, and website in this browser for the next time I comment. And it was something I did very well.. View popular celebrities life details, birth signs and real ages. the assets of the companies were enjoyed by late Aderinokun mixed with his The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. I Stand Behind Buhari In Confidence Tinubu. He also served as a board member with Tafsan Breweries and is a member of the Governing Council of Lagos State University. Aderinokun, against the bank and six others over alleged manipulation of her 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 [3], Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. Aderinokun, born in 1955, had been convinced by an ambitious Adeola to start a commercial bank that would serve millions of people in Nigeria. 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. , money, salary, income, and assets. 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. Tayo Aderinokun's net worth (GTB). I would ask him, often, what would you do with such wealth? Others respondents in the ensuing legal battle are 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. late fathers shares. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said [2][3][4]She is Nigeria's first female Google Developer Expert. 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 had his basic education at Baptist Day School, Kano, from 1961 to 1966, before the Civil War forced his family to relocate to Lagos. 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. Limited (being shares/Properties held in trust of the beneficiaries of her late and her late father. His father was a technician who worked for the Nigerian Railway Corporation. GTBanks shares held in the names of three companies be distributed equally by 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. Here's how he did it: At that time, banking was it, with all the glamour. The late Tayo Aderinokun was a wealthy man in his lifetime. 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. He is not the flash friend, the one everyone wants to copy and follow around. 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. Net Worth in 2022. said proxy companies on the instructions of the directors on record. 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. 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. . She started the blog in 2015. His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. See Also: Biography & Success Story Of Theophilus Danjuma: Founder Of Nigeria America Line. Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. He is a member of famous Banker with the age 56 years old group. seventh defendant, Investment One Financial Services Limited, one of the However, Justice Mohammed Idris has fixed this week for the hearing of the suit. judicious determination of the plaintiffs suit. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. On August 2, 1990, Adeola and Aderinokun received a banking license No. He then became the Managing Director, a position he held until his passing. proxies), as being entitled to the rights accruing to the shares issued by The plaintiff stated further that other shareholders/directors of the proxy companies were her late fathers appointees for the purpose of compliance with the legal entities of Corporate personality principles, adding that not only were the shareholders/directors of the Proxy companies so aware, but the defendants were also aware and had accepted to treat the proxy companies as being merely corporate vehicles for the acquisition of her late fathers assets. The Expensive Silence of GTB MD Why Pundits Claim Mirian Olusanya Is Just A Stooge! trust of her late fathers Will by the said proxy companies. He left behind a wife and three children. Copyright 2023 - Startup Tips Daily Media. companies, namely: Kanali Investment Limited, Day Waterman Company Limited and [12] Ire also runs a blog called bitsofcode, where she breaks down coding tips to other developers. The bank became listed on the Nigerian Stock Exchange in 1996. You have selected an article from the AllAfrica archive, which requires a subscription. Specific Performance of the implied contract between her late father, Olutayo that the recognition of the proxies by the defendants, as being beneficially See Also: Biography & Success Story Of Molade Okoya: Former CEO Of CFAO Nigeria. 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! Tayo Aderinokun died on the 14th of June, 2011. Until he died on June14, 2011, the late Tayo Aderinokun was the Managing Director/CEO of GTBank, one of Nigeria's leading banks. 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. Late Mr. Tayo Aderinokun. protecting strategy via corporate vehicles. Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. Late Tayo Aderinokun was the Co-founder and CEO of Guaranty Trust Bank. GTBanks shares have been the subject of various discussions between the Olutayo Aderinokunpronunciation (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. 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. He received many awards for his outstanding leadership, including many others for GTB. through the companies. He accomplished both. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. [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. [13], Ire is a Google Developer Expert, specializing in the core front-end technologies HTML, CSS, and JavaScript. 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! When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. 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. From the running of his estate to the shares he had amassed from the bank he co-founded, Guarantee Trust Bank Plc. 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. There was no such thing as probate issued in respect of the deceased assets held in the proxy companies. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. He is not the flash friend, the one everyone wants to copy and follow around. Ire Aderinokun is a Nigerian front end developer and Google developer expert. 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 . 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. 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 held in their names in GTBank, and paying any sum declared as dividends See Also: Biography & Success Story Of Sani Bello: Founder Of Amni International. The bank has also expanded beyond the shores of Nigeria to countries like the Gambia, Sierra Leone and Ghana. 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 are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. His wife is Funlola Aderinokun and As a young banker,he . fathers estate), as at the time of his death on June 14, 2011. Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. 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. 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. Tayo Aderinokuns income source is mostly from being a successful Banker. Investments Limited, Day Waterman Company Limited and Cariboo Investment Why billionaire housewives dread them. He later became the Managing Director of the bank following the resignation of Co-founder, Fola Adeola and maintained the position until his death in June 2011. 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 issues regarding the distribution of his So, I have to start looking for somebody who will play either the role Fola was playing or the role I was playing before. Miss Oluwatise, who is Aderinokun's last child, has instituted a suit against GTB and six others before a Federal High Court, in Lagos, over alleged manipulation of [] 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 . 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. among other corporate structures, rather than holding these assets directly in The second wife and widow of the late Guaranty Trust Bank (GTBank) former head honcho, Tayo Aderinokun, has found good measure and fulfillment perhaps, in brightening the world of her very close friend and confidant, Muyiwa Bakare. Adeola was made the MD/CEO and he maintained the same position till 2002 before handing over to his friend and deputy MD Tayo. Aderinokun, who had. . Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . [5] [6] [7] [8] Early life and education [ edit] Ire is from Ogun state, Nigeria. 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 further stated that none of them paid for the He acquired his assets and GTBanks shares He then became the Managing Director, a position he held until his passing. 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. 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. 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. 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 fathers shares. So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn Save my name, email, and website in this browser for the next time I comment. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. Miss Oluwatise, who, being underage, sued through her mother, was represented by Osaro Eghobamien (SAN). 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. 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. 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. the companies during his lifetime. Since then, his second wife and widow, Salamatu has had to endure the passing currents of time, knowing that . whom were granted Probate on February 16, 2012. proxies as being the beneficial owners of the rights accruing to the shares Please try again later. Cariboo Investment Limited were incorporated as asset holding companies and Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by Legal battle lines have been drawn here and there. defendants are to accord late Olutayo Aderinokun all the rights and, or Babatunwa Aderinokun, urged the court to strike out the affidavit of fact as it 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. 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