Tajudeen Afolabi Adeola — Nigerian Pilot News
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Tajudeen Afolabi Adeola



Tajudeen Afolabi Adeola

Tajudeen Afolabi Adeola also known as Fola Adeola is a Nigerian Businessman, Philanthropist and Politician. Fola co-founded Guarantee Trust Bank, the founder of FATE Foundation, the Chairman of Main One Cable Company Limited, owner-managers of the first open access submarine cable in West Africa. He has served as the chairman UTC, ARM, Lotus Capital, Eterna Oil, CardinalStone Partners Limited, Tafsan Breweries (board member), and Credit Registry Services.

Adeola Afolabi had his secondary school education at the Methodist Boys High School, Lagos. After which, he proceeded to the Yaba College of Technology where he obtained a Diploma in Accounting in1975. After several trainings at Deloitte, Haskins and Sells and D.O. Dafinone & Company he became a Chartered Accountant in 1980. He didn’t stop there he has received other professional development training at notable institutions worldwide including Harvard Business School, INSEAD, and the International Institute for Management Development in Switzerland.

Afolabi Adeola alongside Tayo Aderinokun co-founded and established Guaranty Trust Bank in 1990. Afolabi from the inception managed the banks affairs as the managing director/CEO till July 2002. Under his management, he firmly established the institution as a strong and credible bank as well expanded the bank beyond Nigeria to United Kingdom and neighbouring African countries like Gambia, Sierra Leone, Ghana and Liberia. In 1996, the bank became listed on the Nigerian Stock Exchange. In 2002, Adeola voluntarily retired from Guaranty Trust Bank, after twelve years, handing over to his deputy, Tayo Aderinokun.

Fola Adeola is the founder of the FATE Foundation a non-governmental organization which aims to encourage entrepreneurship, using a mix of training, mentoring, loans support and consulting to support young Nigerians. To date it has served over 30,000 young Nigerian entrepreneurs, of which over 65% are fully employed by their businesses and are employing on average about four staff. He founded the organization in March 2000, following a one-year sabbatical at the National Institute for Policy and Strategic Studies in Kuru, Jos, Nigeria, where he carried out research on economic development and job creation policies.

Fola Adeola has served, and is still serving, at national and international levels, on various committees and corporate boards. In the public sector, Fola had served as the first Chairman of the National Pension Commission in Nigeria, which was established, following the promulgation into law, of the Pension Reform Bill, principally authored by him. He also served as member of the National Honors Committee, member of the Solid Mineral Committee (both federally constituted), member of council, Institute of Chartered Accountants of Nigeria, and member of the Global Advisory Committee on Philanthropy of the World Economic Forum. He had served as a Commissioner on the Commission for Africa, prelude to the 2005 G8 meeting in Gleneagles, UK. He chaired the Lagos State Disaster Relief Committee which was set up following the 27 January 2002 Lagos armory explosion. He was a council member of Lagos State University and until 17 January 2011 served as a council member Olabisi Onabanjo University.

Adeola served as a member of the Global Advisory Committee on Philanthropy of the World Economic Forum for four years. In 2001, he was invited to join twenty-four other business leaders for the Aspen Institute ISIB Annual Business Leaders Dialogue in Aspen, Colorado. In May 2004, he was appointed Commissioner on the Commission for Africa by the British Prime Minister Tony Blair.

He was the Vice-Presidential candidate of the Action Congress of Nigeria (ACN) serving as running mate to former Economic and Financial Crimes Commission chairman (EFCC) Nuhu Ribadu in the 2011 presidential elections

Fola was nationally decorated as Officer of the Order of the Federal Republic (OFR) by the Nigerian president in 2002. He is married with six children.

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