Founder – Guaranty Trust Bank – Lagos, Nigeria
Mr. Fola Adeola is the founder and chairman of Guaranty Trust Bank Plc, one of Nigeria’s largest banks, where he is presently a director. He served the bank as the pioneer Managing Director and Chief Executive Officer for 12 years. Before founding Guaranty Trust Bank Plc in 1990, Mr. Adeola was the Deputy General Manager & Divisional Head, Financial Services Division of the Continental Merchant Bank Limited (1986-1990). He also served as a manager of the NAL Merchant Bank Plc from 1982-1986. Prior to this experience, he served as a senior auditor at D.O. Dafinone & Co. From the beginning of his tenure at Guaranty Trust, Mr. Adeola had sought to build an institution that would outlast him and one that would be reputed for strong governance, including carefully laid out succession plans. It was in this spirit that he stepped down after 12 years at the helm of the bank.
Immediately upon stepping down, Mr. Adeola served as the chairman of the Pension Reform Committee, which designed and drafted the Pension Reform Act of 2004, which is guiding the emergence of a new pension industry in Nigeria. He was until recently the Chairman of the National Pension Commission, the regulatory authority for the Pension Industry. Mr. Adeola also served briefly as CEO of Transnational Corporation of Nigeria (“Transcorp”), a holding company set up with local investors in 2004 to invest in the privatization of state enterprises with the goal of becoming the leading Nigerian conglomerate.
Mr. Adeola is the founder of FATE Foundation, a charitable foundation created to promote entrepreneurship among the youth in Nigeria, a cause Mr. Adeola feels very passionate about.
Mr. Adeola has presented over twenty papers in various countries on a wide range of topics. He attended Yaba College of Technology where he obtained his HND in Accountancy. He has also obtained degrees from the London School of Accountancy, the International Institute for Management Development (IEP), the Lagos Business School (CEP) and the Harvard Business School (OPM). In 1999, Mr. Adeola was awarded membership of the National Institute of Policy & Strategic Studies (MNI).
Mr. Adeola is a council member of the Institute of Chartered Accountants of Nigeria (“ICAN”), Institute of Directors of Nigeria (“IOD”) as well as a member of the National Honors and Awards Committee of the country. In 2004 and 2005, he served as a member of UK Prime Minister Tony Blair’s Commission for Africa.