Hajia Bola Shagaya (MON) was born on the 10th of October, 1959. She hails from Ilorin, Kwara state but resides and conducts her business principally in Lagos.

She had her secondary school education at Queens School, Ilorin, and her tertiary education at Ahmadu Bello University, Zaria and Armstrong College in California, where she studied economics and accountancy. She has also attended a number of local and international seminars and workshops, including Harvard Business School.

She started her career with the audit department of the Central Bank of Nigeria before venturing into commercial activities in 1983. Her business experience commenced with the importation and distribution of photographic materials, namely, roll papers, films and chemicals under the trading name, Bolmus International (Nigeria) limited. She introduced the Konica brand of photographic materials into the Nigerian market and the West African coast.

In 1997, she registered Fotofair (Nigeria) limited and opened a photo laboratory service unit on Victoria Island, Lagos using 100% Japanese technology under the Konica brand name. Today, Fotofair (Nigeria) Limited has over thirty photo laboratories located in different parts of the country and evidently one of the largest photo laboratory companies in Nigeria.

Hajia Bola Shagaya is also the managing director of Practoil Limited, one of the largest importers and distributors of base oil in Nigeria, meeting the needs of the local lubricant blending plants. Currently, Practoil is building its own state – of – the – art lubricating plant at Kirikiri, Lagos state, which will produce multigrade oils and lubricants. Her business empire, which also includes a huge investment in real estate, spans across major cities in the country and has over three hundred employees.

She was on the board of Intercity bank for over eight (8) years. While on the board of the then intercity bank (now Unity Bank Plc), she served in different capacities on various board committees including the position of Chairman of the bank’s establishment committee  and Chairman, Audit committee just to mention a few.  In addition, Hajiya Bola Shagaya was a member of the audit and credit committees of the board of Unity Bank plc.  She is also a member of the recently inaugurated Nepad Business Group – Nigeria.

A patron of the Fashion Designers Association of Nigeria, (FADAN)., she is a fashion and art enthusiast who supports and encourages the fashion and art industry.  She is also a sports lover, especially Polo. She has consistently supported polo tournaments over the years in Nigeria.

In recognition of her outstanding virtues and in appreciation of her services to the country on the 22nd of July 2010, she was awarded by the President of the Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan (GCFR), the title of Member of the Order of the Niger (MON).