There was no such thing as probate issued in respect of the deceased assets held in the proxy companies. In the ensuing legal battle, Oluwatise Aderinokun Olutayo Aderinokunpronunciation (May 8, 1955 June 14, 2011) was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. We recommend you to check the complete list of Famous People born on 8 May. Guaranty Trust Bank has grown into one of the biggest and most profitable corporations in Nigeria. Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. Investments Limited, Day Waterman Company Limited and Cariboo Investment He is not the flash friend, the one everyone wants to copy and follow around. Get the latest in African news delivered straight to your inbox. 06 trillion (over $10 billion). She also want the court to make an Order of [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. Parang mukha ni Jessica Soho pero hindi, saka thai yung nakasulat. Running the salon together made the duo discover that they had a similar knack for entrepreneurship and its risks. The plaintiff is also seeking a court declaration Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . cannot be placed within the realm of any law. 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. 58, dated August 1, 1990 and signed by the Federal Minister for Finance, Chief Olu Falae, for Guaranty Trust Bank Limited. Miss Oluwatise Aderinokun, the eight-year-old and last child of the late 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. Aderinokun, against the bank and six others over alleged manipulation of her Here's how he did it: His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. 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. late fathers shares. The deponent averred further that other 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! His net worth has been growing significantly in 2021-2022. Your email address will not be published. To address comments or complaints, please Contact us. Fola Adeola is married to Hajara Fola Adeola and they are blessed with six children. 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! the names of the proxies, was done in dishonest assistance of the breach of 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. 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. Olutayo Aderinokun was a Nigerian entrepreneur who until his death was the CEO of Guaranty Trust Bank. LATE GTB GMD, MR TAYO ADERINOKUN. 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. To complete the process, please follow the instructions in the email we just sent you. At the resumed hearing of the suit Tuesday, the . Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. 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. Femi Otedola Wins African Person of the Year Once again, Africa's force of nature, billionaire Femi Otedola has been honoured for his philanthropic activities on the continent. various companies, as his assets are intertwined with the corporate assets of However, Olumide Aju, lawyer representing 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. 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 . They paid better, the suits were sharper. It has been some time since Aderinokun passed away, precisely 10 years. The family of late Olorogun Michael Christopher Ibru (aka the Fisherman) is a clear example. Ire Aderinokun is a Nigerian front end developer and Google developer expert. Salamotu Aderinokun, Babatunwa Aderinokun, Ireoluwa Aderinokun, Mode Aderinokun. The plaintiff, in her statement of claim filed At that time, banking was it, with all the glamour. [3] Early life and education [ edit] [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. I would ask him, often, what would you do with such wealth? Since he retired from active banking service, Fola Adeola has been a board member of several organisations ranging from but not limited to Arm Holdings, Eterna Oil, Cardinal Stone Partners Limited, UTC, Credit Registry Services and MainOne Cable Company Limited. received in respect of the Proxy companies, were either paid from or into his and her late father. among other corporate structures, rather than holding these assets directly in Mr. Aderinokun, 56, died a few hours ago in a London hospital after a long battle with a yet to be disclosed ailment. 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. What He Told City People Before He Died 6 Years Ago. Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both Why billionaire housewives dread them. View popular celebrities life details, birth signs and real ages. 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. . The plaintiff, in her statement of claim filed before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and Graeys, averred that upon the death of her father, he gave legacies and directive to his two wives and four children and her late father also appointed GTBank Asset Management Limited (now Investment One Financial Services Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both whom were granted Probate on February 16, 2012. 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. Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. The plaintiff is also seeking a court declaration that the recognition of the proxies by the defendants, as being beneficially entitled to the rights of her late fathers shares (issued by GTB), 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. The plaintiff who is a minor, is also urging the court for an enquiry into what volume of her late fathers shares issued by GTBank 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. It was during this period that he forged an unfettered friendship and brotherly bond with Adeola. And a partnership, coupled with a dream and the zeal to bring it to reality, is a great way to shoot for the stars. 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. ISD-114 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! 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. See Also: Biography & Success Story Of Cosmos Maduka: Founder Of Coscharis Motors. the children of late Olutayo Aderinokun were fully aware of the deceased assets His father was a technician who worked for the Nigerian Railway Corporation. Privacy Policy. 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. He is a member of famous Banker with the age 56 years old group. There are no comments at the moment, do you want to add one? Aderinokun's father was a technician who worked for the Nigerian Railway Corporation. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. On August 2, 1990, Adeola and Aderinokun received a banking license No. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. In his tribute to his departed friend and partner, Adeola commended Aderinokun for sustaining the vision, and taking the bank so much higher to a realm I know I could never have taken it to, adding that under Aderinokuns leadership, the bank simply grew in leaps and bounds.. We have estimated He was presented with the African Person of the Year award. 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. personal incomes, as he used his personal incomes to purchase assets in the GTBank and other defendants in the suit from cknowledging/recognising 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. He added that the Letter of Administration issued to the Executors of Aderinokuns Will is only in respect of Estates and shares personally owned by the deceased. 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. . We are proud to welcome you ALL to the Inaugural GTBank Webcast with Tayo Aderinokun, MD GTBank. The Nigerian Stock Exchange President's Merit Award in 2003, 2005, 2007 and 2008. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. Limited (being shares/Properties held in trust of the beneficiaries of her late She particularly stated that both GTB and Datamax Registrar Limited received these contrary instructions from the Proxies and acted upon same. 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. 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