Mrs. Kafilat Ayodeji Araoye (née Salami) holds a Bachelor of Arts degree in History from the University of Ile-Ife, now Obafemi Awolowo University (1985), and a Master of Science degree in Industrial Relations and Personnel Management from the University of Lagos (1987), graduating as the best student in her class. She received many awards, including the Abel Ubeku Award and the Christopher Kolade Award for being the best student in her Master’s degree class (1986/1987).

Kafilat’s wealth of banking experience spans 34 years, covering virtually all areas of banking, with emphasis on Human Resources, International and Domestic Operations, Payments, Clearing, General Management, Business Development, Risk Management, and Strategy. She commenced her career at the National Oil and Chemicals Marketing Company Plc (now Conoil Nigeria Plc) in 1988 and was there until 1990. She then proceeded to Guaranty Trust Bank (GTBank) Plc in 1990 as a pioneer staff and had risen to the level of General Manager by 2004. She left the Bank in 2015 with accolades.

She thereafter went briefly into consulting/business advisory before accepting the responsibility to midwife the setting up of LOTUS Bank Limited, a global and domestic award-winning non-interest national bank which commenced operations in July 2021 and currently has outlets in fifty-six (56) locations across the country. Since inception till now, LOTUS Bank under the supervision of Kafilat as the MD/CEO have won various global and domestic awards, including the recent award of the Best Financial Inclusion Initiative and Debit Card of the Year at the Global Retail Banking Innovation Awards in Singapore and the Ethical Banking Leadership Award of the Year at the BAFI Awards 2024 in Nigeria.

Hers has been a life of service and impact. On the platform of the Chartered Institute of Bankers of Nigeria (CIBN), she has served in various committees, and her contributions to the development of the economy under the aegis of the Central Bank of Nigeria (CBN) include serving as Member, CBN Implementation Committee on Automated Clearing House (2002); Member, CBN Implementation Committee on Settlement Banking (2004 to 2005); and Member, CBN Implementation Committee on Real Time Gross Settlement (2006–2007) (including chairing the sub-committee that set the rule for Real Time Gross Settlement).

At the international level, she served as Nigerian Representative at the International Chamber of Commerce, Banking Techniques and Practice Committee (2006 to 2011). She was a member of the committee which reviewed and approved Uniform Customs and Practice for Documentary Credits (UCP 600) at ICC conference in Paris, and she was instrumental to the setup of the Banking Technique and Practice Committee, Nigerian Chapter.

She is a Fellow of the Institute of Credit Administration, a Fellow of the Chartered Institute of Bankers of Nigeria (FCIB), a Member of the Chartered Institute of Personnel Management of Nigeria (MCIPM), and a Member of the Chartered Institute of Personnel Development, United Kingdom (MCIPD).

Kafilat is happily married to Dr. Adekunle Araoye with children.