Professor M.O. Kayode was born on September 4, 1939. He had his primary education at the Sudan Interior Mission (SIM) now known as Evangelical Church Winning All (ECWA) Primary School, Egbe. He had his secondary education at the Provincial Secondary School (PSS), Okene, now known as Abdulazeez Attah Memorial College (AAMCO), Okene, where he was the goalkeeper of the unbeatable school football team and served as the Head Boy of the school in 1959. His fame as the school’s most outstanding goalkeeper and highly amiable and respected Head boy lasted for many decades.
After obtaining his Cambridge Secondary School Certificate in Okene in 1959, he along with 9 of his classmates and 5 students from some other secondary schools in Northern Nigeria were admitted to the prestigious King's College, Lagos, for their Cambridge Higher School Certificate (HSC) programme in 1960. They were the first set of Northern Nigeria students to attend the HSC programme in King’s College. He completed the programme successfully and won the Economics prizes in 1961.
He then proceeded to the premier University of Ibadan on a Northern Nigerian Government scholarship to study Economics in 1962. He graduated in the Second Class Upper Honours Division in 1965. He registered for the postgraduate programme of the Department of Economics, University of Ibadan, immediately he graduated. However, he later suspended his postgraduate studies to pursue Postgraduate Degrees at the London School of Economics (LSE) and the Harvard Business School (HBS), Cambridge, MA. Thereafter, he resumed his postgraduate studies at the University of Ibadan and obtained a PhD degree in Economics from the University of Ibadan in 1972. He was the foremost doctoral graduate of the Department of Economics, University of Ibadan.
Professor Kayode served in various capacities during his academic career at the University of Ibadan. Notable among these were: Head of the Department of Economics; Pioneer Director of the Consultancy Services Unit of the University of Ibadan (the first Consultancy Unit of ANY University in Nigeria); and Pioneer Coordinating Director of the Centre for Resource Control & Management (CEREMAC) housing all profit centres of the University of Ibadan.
In addition, he served in various capacities on several committees and boards across several organizations and Governments at the State, Regional, National and International levels. These include but are not limited to: the Nigerian Economic Society (NES), the National Raw Materials Development Council; the Foundation for Economics Education (FEE); the BEC Associates International Ltd.; the National Vision 2010; the AfriBank Economic and Financial Review; the National Capital Issues Commission (NCIC); the Nigerian Association of Management Education and Training (NASMET); the Kwara State Government Planning Council; the Kwara State Local Government and Chieftaincy Reform; the Kwara State Public Service Commission, the Advisory Committee to the Adewole Housing Estate Project of Kwara State Government; the Committee on Maintenance of Public Property, Lagos; the Kwara State Investment Company; the National Revenue Allocation, Mobilization and Fiscal Commission (NRAMFC); the Broad Express Nigeria Limited; the Trade Bank Plc; the African Economic Research Consortium (AERC), Nairobi, Kenya; the Central Bank of Nigeria (CBN); the World Bank Mission for review of NIFOR; the WHO Regional Office for Africa (WHO-AFRO); and the National Hospital Insurance Fund for the Kenyan Government.
Professor Kayode also contributed immensely to the socioeconomic development of his community, Egbe, Kogi State, in many ways. He assisted Egbe Community Bank (later known as Egbe Microfinance Bank, EMFB) become technically solvent after being financially distressed in 1993. He was also one of the foundation members of the Elegbe’s Special Advisory Council (ESAC) where he served an 8-year term as the Chairman, and he remained a member until his demise.