She graduated from University of London in 1963 with B. Sc honours in Economics. A fellow of Institute of Charted Accountants, England and Wales 1977, ICAN Nigeria 1976, British Chartered institutes of company Secretaries (ACIS 1964). Nigerian Institute of management (FMIN) 1985, British Institute of Directors.
She is a recipient of the following honours and awards: Doctor of Business administration from Enugu State University of Science and Technology, 1997, Doctor of Laws, LLD honoris causa (Latin: "for the sake of the honor"). Bayero University, Kano, 2004, Doctor of letter (Honoris Causa) , Olabisi Onabanjo University, Ago Iwoye Ogun State 2006.
Other honours and awards include Federal government of Nigeria with the National award of member of the Order of the Niger in 1979, for her contributions to management education and socio- economic Advancement of Nigeria. She was conferred with the award of Order of the Niger (OON) in 2002, award of certificate of Merit by the United Nations Decade of Woman, 1980, award for Excellence from the University of Benn's Skonit Club in 1988, honorary Grammarian of CMS 1988 by CMS grammar school, award of Excellence by Brigade of Nigeria, 1992, International award of Excellence for outstanding entrepreneurial achievements, MIT, Cambridge, MA, USA. !992, a recipient of 2002 conferment award for Woman of achievements under the auspices of the Woman development centre, Abuja, 2005. Otuunba (Dr) Kuforiji Olubi holds many chieftaincy titles across Nigeria.
Her highness,the Otunba Ayora Bola kuforiji Olubi served in various capacity locally and internationally. She was the 25th president Institute of Chartered Accountant of Nigeria, the first female to become president of the Institute; while she was in the office she launched Accounting Technicians Course 1989–1990.
First Nigerian woman to be CEO of a multinational company (VYB Industries Limited, with British affiliates (incheape & Co Plc) and first female Chairman of a public quoted company (Bewac Plc).
Otunba Ayora Bola kuforiji chair and served on the boards of many other companies. The first Chair man of Ogun, Osun River basin development (1976–1980), member governing council Nigerian Institute of Social and Economic research (NISER) from 1981–1983. She was appointed chairman of a leading financial Institution, United Bank for Africa Plc in 1984 1990, a first woman in Africa south of the Sahara, Vice chairman National conference on Nigerian foreign policy to the year 2000, member National Sport commission 1986–89. She was a foundation member and chairman, Lagos State Education endowment fund (1988–1999). She was appointed as honorable Secretary (Minister) for commerce and tourism in the interim National government of Nigeria in 1983. Otunba Ayora was a deputy chairman & Hon. Federal commissioner for Ogun state at the revenue mobilization.
Her publications include, the female Entrepreneur and Financial Management for Survival 1987, Civil service reform in a developing Economy 1988. The corporate Woman, a marginalised group, problem and Strategies for success, vide public enlightenment programme of the institute of Directors 1989. Technical education as a catalyst for technical cooperation and Economic growth in developing Countries 1992 and co-author of Changing Course. Otunba Ayora is a chairman of many companies, SPHINX GROUP, PHOENIX TIDE offshore Nigeria Limited and Phoenix Occean line limited.