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M.K.O Abiola: Entrepreneur of the Week



In 1956 Moshood Abiola started his professional life as bank clerk with Barclays Bank plc in Ibadan, South-West Nigeria. After two years he joined the Western Region Finance Corporation as an executive accounts officer before leaving for Glasgow, Scotland to pursue his higher education. From Glasgow University he received a first class degree in accountancy.


He also received a distinction from the Institute of Chartered Accountants of Scotland. On his return to Nigeria, he worked as a senior accountant at the University of Lagos Teaching Hospital, then went on to Pfizer, before joining the ITT Corporation, where he later rose to the position of Vice-President, Africa and Middle-East of the entire corporation, which was headquartered in the United States. As a result, Moshood Abiola spent a lot of his time and made most of his money in the United States, whilst retaining the post of chairman of the corporation’s Nigerian subsidiary.

In addition to his duties throughout the Middle-East and Africa, Moshood Abiola invested heavily in Nigeria and West Africa. He set up Abiola Farms, Abiola bookshops, Radio Communications Nigeria, Wonder bakeries, Concord Press, Concord Airlines, Summit oil international ltd, Africa Ocean lines, Habib Bank, Decca W.A. ltd, and Abiola football club. In addition to these, he also managed to perform his duties as Chairman of the G15 business council, President of the Nigerian Stock Exchange, Patron of the Kwame Nkrumah Foundation, Patron of the WEB Du Bois foundation, trustee of the Martin Luther King foundation and director of the International Press Institute.