Fola Adeola: from banking pioneer to entrepreneurial visionary
Fola Adeola is a renowned Nigerian entrepreneur, banker, and philanthropist. He co-founded Guaranty Trust Bank (GTBank), one of Nigeria's most successful financial institutions. Over the years, he has become a respected figure in business, politics, and humanitarian work.
Source: UGC
TABLE OF CONTENTS
Key takeaways
- Fola Adeola co-founded GTBank in 1990, setting standards in Nigeria’s banking industry.
- He was the vice presidential candidate under the Action Congress of Nigeria in the 2011 elections alongside Nuhu Ribadu.
- The Nigerian banker is married to Hajara Adeola, and they have six children together.
- With a long career in banking and investment, he has amassed considerable wealth and is an influential voice in financial and social spheres.
Profile summary
| Full name | Tajudeen Afolabi Adeola |
| Gender | Male |
| Date of birth | 10 January 1954 |
| Age | 71 years old (as of 2025) |
| Zodiac sign | Capricorn |
| Place of birth | Lagos, Nigeria |
| Current residence | Lagos, Nigeria |
| Nationality | Nigerian |
| Ethnicity | African |
| Tribe | Yoruba |
| Religion | Christianity |
| Sexuality | Straight |
| Hair colour | Black |
| Eye colour | Dark brown |
| Siblings | 16 |
| Marital status | Married |
| Partner | Hajara Fola Adeola |
| Children | 6 |
| School | St. Paul’s Breadfruit School, Methodist Boys’ High School |
| College | Yaba College of Technology, Harvard Business School, Lagos Business School |
| Profession | Businessman, banker, investor |
Fola Adeola’s biography
The Nigerian banker was born Tajudeen Afolabi Adeola in Lagos State, but his parents hail from Ogun State, Nigeria. His father was reportedly a bank clerk, but his mother’s occupation is unknown. Fola spent most of his childhood in Lagos and was raised alongside 16 siblings, some of whom are Bayo, Yinka, and Yemi.
His education journey began at St. Paul’s Breadfruit School, and he proceeded to Methodist Boys’ High School, where he completed his high school education. He joined Yaba College of Technology in Lagos, obtaining a Higher National Diploma in accountancy.
In pursuit of further knowledge, he pursued undergraduate studies at Harvard Business School and Lagos Business School. He is also an alumnus of the National Institute for Policy and Strategic Studies in Kuru, Jos, Nigeria.
Source: Original
Fola Adeola’s career: banking, business, and beyond
Fola Adeola’s professional journey began in the private sector. Notably, he served as a senior auditor at D.O. Dafinone & Co. before joining the NAL Merchant Bank Plc as a manager between 1982 and 1986.
From 1986 to 1990, he was the deputy general manager & divisional head, financial services division of the Continental Merchant Bank Limited. He co-founded Guaranty Trust Bank (GTBank) in 1990, along with Tayo Aderinokun.
Under his leadership, GTBank became one of Nigeria’s most innovative and customer-focused banks, introducing modern technology and systems into the banking space.
Source: Instagram
In a YouTube interview with Gbenga Agboola, he expressed his pride as the co-founder of GTBank, saying:
You have to be clear in your life about what you want. Like I said, for me, it is constantly the interest of Guaranty Trust Bank, and if I stand in their way or think that I must be the only person who can continue to do things, then it is not going to grow.
He continued:
When we look at everything at the end of the day, Guaranty Trust Bank has not shrunk, and that is my joy that in my lifetime, an organisation that I birthed with my friend can continue irrespective of what happens to us. That is what I'm most proud of. The second thing is that when you look at this space today, those who are doing interesting things in the space came out of this establishment.
After stepping down as managing director in 2002, Adeola focused on entrepreneurial ventures and public service. He served as chairman of the National Pension Commission (PenCom) and was instrumental in reforming Nigeria’s pension administration.
Source: UGC
His influence also extended to the Central Bank of Nigeria (CBN), the Lagos State Government, and international bodies like the Global Advisory Committee on Philanthropy of the United Nations. He later founded FATE Foundation, which supports young Nigerian entrepreneurs through training, mentoring, and funding opportunities.
Adeola is reportedly the chairman of Main One Cable Company Limited and also a member of the Board of Trustees of the International Crises Group. In 2002, he was nationally decorated as an Officer of the Order of the Federal Republic (OFR) by the Nigerian president.
In 2011, Adeola aspired to be a Nigerian politician when he vied as the vice presidential candidate for the Action Congress of Nigeria (ACN), running alongside former EFCC Chairman Nuhu Ribadu.
Meet Fola Adeola’s family
The GTBank co-founder is married to Hajara Adeola, a prominent figure in Nigeria’s financial sector. Fola Adeola's wife, Hajara, is the founder, managing director, and chief executive officer of Lotus Capital, an investment company known for pioneering non-interest finance in Nigeria.
It is unknown when the couple exchanged marriage vows, but their marriage is blessed with six children. Despite being a famous family, they have kept their children away from the spotlight, and their details are not publicly known.
FAQs
- What is Fola Adeola known for? He is best recognised as the co-founder of GTBank, a leading Nigerian financial institution known for its innovation and governance practices.
- How old is Fola Adeola? The Nigerian investor is 71 years old as of 2025. He was born on 10 January 1954, and his zodiac sign is Capricorn.
- Who are Fola Adeola’s brothers? He was born into a family of 17 children, but the exact names of his brothers are unknown.
- What is Fola Adeola’s state of origin? The banker hails from Ogun State but was born and raised in Lagos State, Nigeria.
- Was Fola Adeola ever involved in politics? He ran as a vice presidential candidate in Nigeria’s 2011 elections under the Action Congress of Nigeria alongside Nuhu Ribadu.
- What organisations has Fola Adeola founded or led? He co-founded GTBank and FATE Foundation and also served as chairman of PenCom and held roles in several national and international organisations.
- Who is Hajara Adeola? She is Fola Adeola’s spouse, but professionally, she is the founder, managing director, and chief executive officer of the investment company Lotus Capital.
- How many children does Fola Adeola have? The banker and his wife, Hajara, are parents of six children.
Fola Adeola’s journey from a young banker to one of Nigeria’s most admired entrepreneurs is nothing short of inspirational. He has made an indelible mark in the banking industry and beyond. His legacy continues through his ventures, family, and unwavering dedication to national development.
Legit.ng recently published Cynthia Obianodo Obi-Uchendu’s biography. She is a Nigerian fashion designer, entrepreneur, social media influencer, and former HR manager. Cynthia founded Something Labelled and is also known as the wife of Ebuka Obi-Uchendu, Big Brother Naija host.
Cynthia has made a name for herself in the fashion industry, especially since she founded her bridal-focused brand. However, her marriage to media personality Ebuke Obi-Uchendu thrust her into the limelight. Her biography has all the information about her career and personal life.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
