Foray Into Banking. By subscribing, you're accepting to receive promotions. Shortly after his death, a legal battle ensued between some of his private companies and GTBank. 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. 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. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. deposed to by one Mike Okoh, he averred that contrary to the averment of the defendants are to accord late Olutayo Aderinokun all the rights and, or accruing to her late fathers shares held in his name, and the names of the Vanguard News, Sports and Business from vanguard Newspapers 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. Aderinokun, who had. 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. All the resolutions of the three companies were duly passed at meetings validly convened by the companies. More often than not, great success stories revolve around harnessing the power of synergy. 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. 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 . Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. 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For late Tayo Aderinokun's wife, Salamatu, reality bites March 16 14:15 2015 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. One of his most outstanding awards is the recognition of a distinguished officer of the Federal Republic (OFR). 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. Copyright 2023 - Startup Tips Daily Media. 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. I finished my MBA at UCLA and I came back to Nigeria. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. beneficial interest in the shares purchased by her late father, and issues by 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. 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 further stated that none of them paid for the 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. When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. 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. For late Tayo Aderinokus wife, Salamatu, new lease of life. 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. Paubos na kasi. Here's the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late '80s. 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. Tayo Aderinokun, co- founder of the Guarranty Trust Bank, Gtb has etched his name in immortality using golden pen. That was Fola Adeola extolling the drive of his friend and partner, Tayo Aderinokun in a tribute following the latters passing in 2011. GTBanks shares held in the names of three companies be distributed equally by Your email address will not be published. Privacy Policy. 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. directive to his two wives and four children and her late father also appointed The Nigerian Stock Exchange President's Merit Award in 2003, 2005, 2007 and 2008. 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. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. Fola Adeola is married to Hajara Fola Adeola and they are blessed with six children. The deponent averred further that the incomes from The issues regarding the distribution of his GTBanks shares have been the subject of various discussions between the executors of his estates. 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. 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. Ire Aderinokun is one of the founding members of Feminist Coalition,[18] a group of young Nigerian women with the aim of promoting equality for women in Nigerian society. Canadian twin-menace, Jyoti and Kiran Matharoo, in police net for trying to blackmail Femi Otedola with their website, naijagistlive, Nigeria to Spend Abacha Loot on Second Niger Bridge, Lagos-Ibadan, Abuja-Kano Expressway Malami, Indian twin-menace: Nigerias most promiscuous sisters, Jyoti and Kiran Matharoo. He then became the Managing Director, a position he held until his passing. held in their names in GTBank, and paying any sum declared as dividends (GTB). Since Yul Edochie and his second wife drama is trending,I believe this is a good opportunity to tell this story. The Difference Between A Business Idea And A Business Opportunity, 63+ Lucrative Small-Scale Business Ideas You Can Start In Nigeria Or Africa, How To Start The Lucrative Export Of Lithium Ore From Nigeria To International Buyers: Lepidolite, Lepidolite, Amblygonite, & Spodumene, 20 Lucrative Medical Business Ideas For Healthcare Professionals, How To Start A Lucrative Cocoa Farming Business In Nigeria and Africa: The Complete Guide, How To Start A Lucrative Groundnut Farming Business In Nigeria and Africa: The Complete Guide, How To Start A Lucrative Barley Farming Business In Nigeria and Nigeria: The Complete Guide, How To Start A Lucrative Plastic Recycling Business In Nigeria and Africa: Comprehensive Guide + E-Book. She built her first website at the age of 13 as a fansite for Neopets where she had learned her first basic HTML codes. During his time as the CEO the bank won the following awards. 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