Bola Shagaya

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Bola Shagaya

Born (1959-10-10) 10 October 1959 (age 64)
OccupationBusiness magnate

Hajia Bola Muinat Shagaya MON (10 October 1959) is a Nigerian businesswoman and fashion enthusiast. She is one of the richest women in Africa.[1][2] She is the founder and CEO of Bolmus Group International, a conglomerate with holdings in real estate, oil and gas, banking and photography.


Hajia Bola Muinat Shagaya was born on 10 October 1959. Bola Shagaya is known to have 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.[citation needed]

She started her career with the audit department of the Central Bank of Nigeria before venturing into commercial activities in 1983. Her business experience started with the importation and distribution of photographic materials. She introduced the Konica brand of photographic materials into the Nigerian market and West Africa.

Hajia Bola Muinat Shagaya is also the managing director of Practoil Limited,[3] one of the largest importers and distributors of base oil in Nigeria, serving local lubricant blending plants. Her business also includes investments in real estate, spanning across major cities in the country with over three hundred employees.

She is currently on the board of Unity Bank plc[4] (formerly Intercity Bank) and has been for over eight years. She is also a member of the recently inaugurated Nepad Business Group – Nigeria. Hajia Bola Shagaya is a patron of the Fashion Designers Association of Nigeria (FADAN).

Money Laundering Investigation

Bola Muinat Shagaya is being investigated by Nigeria's Economic and Financial Crimes Commission, EFCC, for money laundering also involving Patience Jonathan, Nigeria's former firstlady.[5][6]


Private life[edit]

She is currently married to Alhaji Shagaya, a Kwara State-based transport mogul, and has six children. Sherif Shagaya, Hakeem Shagaya, Deeja Shagaya, Naieema Shagaya, Amaya Roberts Shagaya and Adeena Roberts Shagaya. Her children are dispersed across the world, most reputably growing the Real Estate empire in both Europe and the United States. Also involved in minor business and industry holdings across Asia and Australia.[7]


  1. ^ Nsehe, Mfonobong. "Ten Female Millionaires To Watch In Africa". Forbes. Archived from the original on 25 July 2019. Retrieved 25 July 2019.
  2. ^ "The 10 Richest Women In Africa - African Female Entrepreneurs". Ventures Africa. 16 July 2012. Archived from the original on 18 September 2018. Retrieved 25 July 2019.
  3. ^ "Top oil magnates living it up". Vanguard News. 27 January 2012. Archived from the original on 1 July 2019. Retrieved 25 July 2019.
  4. ^ Unity Bank Plc Board of Directors Archived 24 August 2013 at the Wayback Machine
  5. ^ "How Patience Jonathan, Shagaya Used NGO To Launder N3.3bn – EFCC". Sahara Reporters. 27 February 2018. Archived from the original on 23 November 2018. Retrieved 25 July 2019.
  6. ^ "How Patience Jonathan, Shagaya Used NGO To Launder N3.3bn – EFCC".
  7. ^ venturesafrica (23 December 2012). "Hajiya Bola Shagaya: Makings Of A Billionaire Social Elite". Ventures Africa. Archived from the original on 20 August 2018. Retrieved 25 July 2019.

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