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She graduated from the University of London in 1963 with B. Sc honours in Economics. She was 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 and the British Institute of Directors.
She was 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 and Doctor of letters (Honoris Causa), Olabisi Onabanjo University, Ago Iwoye Ogun State 2006.
Olubis's other honours and awards included from Federal government of Nigeria 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 for Women, 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, United States. !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 held 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.
Olubi was the first Nigerian woman to become the CEO of a multinational company (VYB Industries Limited, with British affiliates (Inchcape plc) and first the female Chairperson of a public listed company (Bewac Plc).
Olubi either chaired or otherwise served on the boards of many other companies. She was the first Chairperson of Ogun, Osun River basin development (1976–1980) and a member of the governing council of the 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.
Olubis's 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 Ocean Line Limited.
- Aka, Jubril Olabode (2012-02-01). Nigerian Women of Distinction, Honour and Exemplary Presidential Qualities: Equal Opportunities for All Genders (White, Black Or Coloured People). Trafford Publishing. pp. 61–62. ISBN 9781466915541. Retrieved 19 October 2014.