Fola holds a Bachelors in Electrical Engineering, an MBA from Lagos Business School, and an Executive MBA from the IESE Business School, University of Navarra in Barcelona. He has attended professional courses in Nigeria, Canada, China and the US, the most recent being Harvard Business School's executive course on Transforming Customer Experiences in April 2023. Fola has designed payment systems for large volume processors in transportation, banking as well as oil & gas sectors. He was Managing Director of Ambico Sendirian (Nigeria) Limited, Operations Director of IPCO Nigeria, a member of the IPCO International Group of Singapore, and he sits on the board of several private companies as non-executive director. Fola is a Registered Engineer with The Council for Regulation of Engineers in Nigeria (COREN) and a member of the Society for Corporate Governance Nigeria, Project Management Institute (PMI), and the Nigerian Society of Engineers (NSE).