Fola`s was born in Lagos on 8th March 1939. His mother was Emilia Oyebisi Adebayo. She was a teacher. His father was Dr. Abamikole Oladipo Sasegbon.
Fola attended Olubadan, Kudeti and Aremo Primary Schools in Ibadan, His contemporaries in the primary schools include Laniyan Ojo, Sammy Ola, Late Olu Aboderin, Victor Olunloyo, Late Osu Adeleke etc.
Fola`s mother married Late Mr. P.O. Chukwude, hid revered step father and had three other children. At an early age of nine, Fola lost his mother on 15th June 1945 and was left to the love and care of hid maternal grandparents in Ibadan, Mr. Isaac Adebayo and Mrs. Fawe Adebayo.
His grandmother in particular doted on him and gave him all the love and attention a child could expect. Indeed, it was at that point that his love for the theatre developed. In an effort to follow Fola to grow up with his age group, rather than staying at home with his grandparents, the grandmother was always willing to provide gate fees for Fola to watch films which later became his greatest hobby.
Fola`s parental grandfather Mr. D. T. Sasegbon and his aunty Mrs. O. S. Beckley both in Lagos provided the childhood balance he needed from that side of his family.
He had his Secondary education at the Ibadan Grammar School from 1950 – 1955 under the able principal-ship of Arch-Deacon Alayande “Oga” Secondary education in those days was six year but because of a double promotion, Fola managed to complete the course in five years.
During his Secondary School days in Ibadan, his father as a Doctor was stationed all over the country; home therefore, was all over the country or with caring relations like Osibos and Delanos Farm or Aunty O. S. Beckley or back to base at Opopo Labiran, Ibadan.
Apart from showing signs of not being an ordinary man at school, Fola enjoyed this stage of his life, he played very well and worked when occasion demand. He was quite rough like most boys of his age, but he has a lot of self-discipline, determination and direction.
He had his political awareness awakened and had the privilege of listening to politicians like Zik, Awolowo etc. at the Western House of Assembly by accompanying his uncle in-law Dr. Akanu Ibiam who was then a member.