Gabriel Foluso Fasoto, FCTI, FCA, MBA

Born at Otan Ile in Obokun Local Government Area of Osun state on Thursday, April 6, 1961, Foluso attended Methodist Primary School, Otan Ile from 1966 to 1972 and Victory High School, Ikeja, Lagos State where he had a double promotion and thus spent only four (instead of five) years to complete his Secondary school education in 1979.

He proceeded to Federal Polytechnic, Idah now in Kogi state where he obtained National Diploma (ND) in Accountancy in 1982. Because the then military government insisted that there must be a compulsory one year break before proceeding to HND programme for the purpose of industrial attachment, Foluso decided not to ‘waste’ the one year hence, he sat for and passed the Intermediate level of the Institute of Chartered Accountants of Nigeria (ICAN)’s professional examination in May 1983. This served as moral booster for him thus abandoning the polytechnic education to face the remaining levels of the ICAN examinations which he completed within three years. He later studied for and obtained Master of Business Administration (MBA) Finance degree at Ambrose Alli University, Ekpoma in 2000.

He became an Associate Member (ACA) of ICAN in 1987 and a Fellow (FCA) of that Institute in 1992. He also bagged the Associate (ACTI) Membership of the Chartered Institute of Taxation of Nigeria (CITN) in 1989 and later became a Fellow (FCTI) of the same Institute in 1994. He is also a Member of Nigerian Institute of Management (Chartered).

Foluso started his working career in Union Bank of Nigeria Plc in 1980 as a credit clerk. He thereafter proceeded to Z. O. Ososanya & Co., Chartered Accountants, Lagos, to undergo professional accountancy training, from 1982 to 1985. In 1986, he joined Nigercafe & Foods (W.A.) Ltd as the Finance Manager and in January 1987, he was elevated to the post of General
Manager. Due to his crave for professional practice, in 1994, he resigned his appointment at Nigercafe to establish his own Firm, Gabe Fasoto & Co, Chartered Accountants and Tax Practictitioners, of which he is the Managing Partner till date. Foluso is also currently the Chairman/ Chief Executive Officer of Hortosaf Associates Ltd, a firm of Management and Financial Consultants. He is an Executive Director of Yom-Leumas Nigeria Ltd, a Firm of Computer Consultants.

He is a Past President of the Chartered Institute of Taxation of Nigeria (CITN). Before becoming the President, he was the Vice President, Deputy Vice President and Honorary Treasurer of CITN. He was a Council member of the Institute of Chartered Accountants of Nigeria (ICAN) from 2001 to 2007, where he was also the Chairman of ATS Examinations, a member of
Finance and General Purposes Committee, Investigation panel, etc.

Foluso was a member of both Presidential Committee on Revenue Generation of the Federal Government of Nigeria as well as Study Group on the Review of Nigerian Tax Systems of the Federal Government. He is a Tax Consultant to Federal Inland Revenue Service (FIRS), Lagos State Internal Revenue Service (LIRS) and some States’ Internal Revenue Services.

He is the Author of the Tax Books – NIGERIAN TAX COMPANION – a compedium of tax laws in Nigeria and NIGERIAN TAX COMPANION SERIES-Personal Income Tax Act. He is also a co-author of NIGERIAN TAXATION MANUAL for ICAN students. He has delivered a lot of technical papers at various Seminars/Workshops on Taxation, Audit, Information Technology, Religion, etc.

He was a member of the Conference of Methodist Church Nigeria. He was also the Honorary Treasurer of Lagos Diocese as well as the Honorary Auditor of Lagos Arch Diocese of the Church. He is currently a Deacon in the Redeemed Christian Church of God (RCCG).

Foluso is a member of Lagos Country Club. At leisure time, he loves swimming and playing chess game. He is married to Bukola (nee Soyinka), a legal Practitioner and Notary Public. The marriage is blessed with two children – a girl and a boy who are now parents also.