Kafilat holds a bachelor’s degree in history from the University of Ife, now Obafemi Awolowo University, and a master’s degree in industrial relations & personnel management from the University of Lagos, graduating as the best student in her class. She also holds Islamic Finance certifications issued by Ethica Institute of Islamic Finance, the Chartered Institute for Securities & Investment/Bahrain Institute of Banking & Finance, as well as the Islamic Research & Training Institute. She has attended various executive management courses at the Cranfield School of Management (UK), Lagos Business School, Institute of Management Development (Switzerland), INSEAD (France) and Ross Business School, University of Michigan (USA).

With over 25 years experience in banking, Kafilat has expertise across core banking areas, with emphasis on International and Domestic Operations, Payments, General Management, Business Development, Risk Management, Human Resources and Strategy. She was part of several Central Bank of Nigeria (CBN) Implementation Committees on Settlement and Payment solutions between 2002 and 2007 and represented Nigeria at the Banking Techniques and Practice committee of International Chamber of Commerce, between 2006 and 2011.