Mrs. Olufunlayo Olaitan was born at Ode Remo, Ogun State on 7th April, 1935 to Pa Saula and Alhaja Barikisu Aderibigbe Banwo [Iya Suna of Ode Remo]. Her father was a very successful transporter and businessman and her mother was an industrious textile merchant. Her parents were natives of Ode Remo. She was the eldest of the five children of her mother.
She started her elementary education at Wesley School Ode Remo, Ogun State. Her father was passionate about education so she proceeded to Methodist Girl's School. She completed her secondary school education successfully and was one of the few brilliant students chosen to study at the United Missionary College (UMC) Ibadan for the Grade 11 Teachers' Certificate which she obtained in December 1954.
Thereafter, she was offered employment at her Alma Mater Methodist Girl's School Sagamu from January 1955 to July 1958. She was recognized by the authority as an asset and so was awarded a Federal Government Scholarship to study 'Methods of Nursery and Primary School Education' in the United Kingdom from 1959 to 1961 where she obtained a National Froebel Foundation Certificate of the University of London in July 1961.
On her return to Nigeria she took up an appointment at St Joseph's Teacher Training College Surulere, Lagos from December 1961 to June 1962. After which she was appointed the pioneer headmistress of St Catherine's Model School, Surulere Lagos.
She worked there from July 1962 to December 1970. On January 11, 1971, she started her own school, The Fountain School, Surulere , Lagos. She was pioneer headmistress of the school from inception, January 1971 to December 1993 after which she handed over to her daughter Mrs Adebimpe Delano.
The Fountain School is a huge success story. she did not rest on her oars, The Fountain School gave birth to Fountain Heights Secondary School on November 5, 2001, another success story. She never got tired of working and participated actively in running both schools. Until her death, she was at her office in school everyday.
Mrs. Funlayo Olaitan (Nee Banwo) got married to then Dr. Samuel Adedapo Olaitan on May 5, 1962. The marriage was blessed with four children; Adebimpe, Adeola, Adekunle and Adedoyin and ten grandchildren. She was the matriarch of the Banwo family and was always there for her siblings, nieces and nephews who greatly loved and appreciated her.
Olufunlayo was a Christian who worshiped at The Chapel of the Healing Cross where her husband was the Chief Resident Minister till 2000. She was one of the pioneer Sunday School teachers. she also worshiped at The Chapel of Transfiguration where her husband, Venerable and Professor Samuel Adedapo Olaitan was the rector until his death on September 18 2008.
Mrs. Funlayo Olaitan was a member of the Boys' Scouts, Matron of Girls' Guides, an honorary member of the Red Cross Society, a staunch supporter of National Council for Women Societies (NCWS), a one time treasurer and till her demise, a member of Zonta Club of Lagos. She was also a member of Fountain of Hope Society of Christ Anglican Church Ode-Remo and a member of the Board of Trustees of Adunola Cottage Clinic Foundation Isara-Remo, Ogun state. She also worked as a mentor for the FATE foundation. She lived well and was known for her gentle, refined manner and elegant ways.