While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. Legal battle lines have been drawn here and there. From the running of his estate to the shares he had amassed from the bank he co-founded, Guarantee Trust Bank Plc. (GTB). A bank he nursed from an idea into an internationally recognised brand.
Tayo, who passed away on 14 June 2011, in a London hospital, had been the bank’s chief executive officer until his time of death. Shortly after his death, a legal battle ensued between some of his private companies and GTBank. 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.
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. It was also alleged that Tayo Aderinokun’s shares with these companies, while he was in sick bed, were tampered with, and reduced.
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. Miss Oluwatise, who, being underage, sued through her mother, was represented by Osaro Eghobamien (SAN). Mr. Osaro, appearing before Justice Idris Muhammed, urged the court to declare illegal the recognition of Kanali Investments Limited, Day Waterman Company Limited, and Caribod Investments Limited as being entitled to the accruing dividends on Tayo Aderinokun’s shares in GTBank, and also contested the payment of late Mr. Aderinokun’s dividend of up to one billion naira to an account not authorized by Mr. Aderinokun or his representative.
Oluwatise, through her lawyer, is also asking questions about her father’s 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 father’s estate.
So far, the court drama has planted animosity and discord among the family members, friends, and acquaintances the loving Tayo Aderinokun left behind.