Bankole is a legal practitioner and Estate Developer. He read Law at the University of Ife, Ile-Ife (now Obafemi Awolowo University) where he graduated in 1975. He was called to the Nigerian Bar in 1976. He had his NYSC with COWAN Oil Palm Estate, Ajagbodudu near Koko Port, and the Ministry of Justice in Benin, in the then Bendel State (1976/1977).
From 1978, Bankole spent substantial years in banking and finance. He was a Counsel with the Nigerian Industrial Development Bank (now Bank of Industry) from 1978 to 1980 from where he joined NAL Merchant Bank as Company Secretary and Legal Adviser. While at NAL, he was also the Company Secretary to Nigerian Stockbrokers Limited and had an attachment with American Express Bank.
He attended several training and self-development programs in Europe and the United States of America. In 1993, Bankole resigned from banking and went into private business. In Public service, Mr Bankole Oluwajana served as Ondo State Liaison Officer in Lagos State (2003) and Executive Chairman, Ondo State Development and Property Corporation (2007-2008). Presently, he is the Principal Partner of Kole Oluwajana & Co, a firm of Legal Practitioners.