Taiwo, a Pat Fenlon signing from Carlisle in the summer of 2012, played 57 times for the capital club, including an outing in the ill-fated Scottish Cup final against Celtic at the end of his first season.
However, his spell in Leith ended under a cloud, with Terry Butcher freezing him out of the first team and informing him he had no future at the club - before bringing him back into the fold towards the end of a disastrous campaign.
Given the way the last term ended, with Hibs relegated from the Premiership, Taiwo says it was no surprise when he was released during the summer. It seems to have given the former Chelsea youngster a new lease of life, however, and he has excelled at Falkirk during the early weeks of the season.
Indeed, he prepares to return to Easter Road on Saturday in buoyant mood on the back of a match-winning derby display against Dunfermline in the Petrofac Training Cup, scoring two goals - matching his tally during two years at Hibernian - in a 2-1 win.
"I don't think I have a point to prove at all," said Taiwo. "I will go out and concentrate on my own game and try to play with a smile on my face. I wasn't sad about how I left Hibs, I fully expected it. There were a lot of changes, and there needed to be a lot of changes at the club.
"But I'm really looking forward to going back to Easter Road, I've always enjoyed playing there."
Paul Hanlon, the Hibernian defender, faces a race against time to be fit for Saturday's game after missing the Edinburgh derby with a knee injury. Michael Nelson, who came in for Hanlon on Sunday, has been told he is free to find another club.