The vision of Tolani College of Commerce is guided by a Governing Body. This body comprises eminent persons who are committed to the success of the College and share the vision that led to the founding of the College. The Governing Body prioritizes the goals of the College, approves the financial plans, decides on strategic issues and makes policy decisions.

While the Principal of the College is vested with full authority to make all operating decisions, the Principal is provided counsel by the Governing body collectively and by its members individually as needed. The Body also provides counsel to the Advisory Committee, College Development Cell and the School Committee.