Adebayo Adelabu (born 28 September 1970) is a former deputy governor, operations of the Central Bank of Nigeria and currently serving as the federal minister of power of Nigeria. And 2019 Oyo State gubernatorial candidate for the All Progressives Congress. [1][2][3][4][5]
Adebayo Adelabu | |
|---|---|
 Adebayo Adelabu | |
| Federal Minister of Power Nigeria | |
| Assumed office August 21 2023 | |
| Deputy Governor Operations, Central Bank of Nigeria | |
| In office April 9, 2014 – May 24, 2018 | |
| Preceded by | Tunde Lemo |
| Succeeded by | Ade Sonubi |
| Personal details | |
| Born | Adebayo Adekola Adelabu 28 September 1970 Ibadan, Oyo State, Nigeria |
| Political party | Accord |
| Alma mater | Lagelu Grammar School, Ibadan Obafemi Awolowo University Harvard Business School, Boston, USA |
| Website | https://penkelemes.com.ng/ |
Early life and education
editAdelabu was born to Aderibigbe Adelabu of Oke-Oluokun compound, Kudeti Area in Ibadan. His grandfather is Adegoke Adelabu.
Adelabu attended Ibadan Municipal Government primary school, Agodi Ibadan from 1976 to 1982 and Lagelu Grammar School, Ibadan from 1982 to 1987.[6]
Adelabu received a first class degree in Accounting from Obafemi Awolowo University, Ile-Ife.[7] He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of Chartered Institute of Bankers of Nigeria and an Associate Member of the Institute of Directors of Nigeria and the United Kingdom. Adelabu has also taken up professional courses in various business schools, including Harvard, Stanford, Wharton, Columbia, Kelloggs, Euromoney, and the University of London.[8][2][9]
Professional career
editAdelabu started his career with PriceWaterhouse (now PricewaterhouseCoopers), an international firm of chartered accountants and management consultants. During his seven years with the firm, he led and managed various audit and consultancy engagements for large banks and non-bank financial institutions within and outside Nigeria.[10]
He was on secondment to the Central Bank of Nigeria for one year in 1999 when he led the finance team on the CBN re-engineering and corporate renewal project tagged "Project EAGLES". He left the firm in year 2000 as an audit manager and senior consultant to join First Atlantic Bank as the Financial Controller and Group Head of Risk Management and Controls. He was later promoted to Chief Inspector of the Bank in 2002 and Group Head of National Public Sector Business in 2003.[11]
Adelabu moved to Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business) with dual offices in Lagos and Accra. He was there till 2009 from where he became an Executive Director/Chief Financial Officer (CFO) of Nigeria's largest bank, First Bank of Nigeria Plc. (FBN) at the age of 39. [12]
Adebayo was appointed by former President Goodluck Ebele Jonathan in February 2014 as Deputy Governor, Operations of the Central Bank of Nigeria (CBN).[13]
Adelabu serves as the Chairman, Board of Directors of the Nigeria InterBank Settlement Systems (NIBBS) and has chaired the board of Financial Institution Training Centre (FITC). He is also a serving member of the Board of Federal Inland Revenue Services (FIRS), Nigeria Security Printing and Minting Company (NSPMC), the Assets Management Corporation of Nigeria (AMCON) and the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL).[14]
Personal businesses
editAdelabu is also a businessman and has investments spanning the hospitality, entertainment, agriculture and real estate industries. He is the Group Chairman of Bayse One Group of Hotels, the Best Western Plus Hotels, Ibadan and Bayse One Farm.[15]
Political life
editAdelabu resigned from Central Bank Nigeria with the intention of seeking election into the governorship position of Oyo State in 2019.[16] He made his intention official on June 20, 2018, when he visited the All Progressive Congress party secretariat in Ibadan to make his declaration and also pick up the governorship aspirant form.[17][18] [19] On 30 September 2018, he emerged as the gubernatorial candidate for the APC (All Progressives Congress) Party in Oyo State at the party primaries held at the Lekan Salami Stadium in Ibadan where contestants Joseph Tegbe, Niyi Akintola and four others withdrew from the race with some pledging their unwavering support to Mr Adelabu.[20] On March 9, 2019, Adelabu lost to Oluwaseyi Makinde of the People Democratic Party in the 2019 Oyo gubernatorial election in Oyo state. [21] [22] In 2022, he resigned from the All Progressive Party (APC) and defected to Accord party after he lost the primary election to Teslim Folarin who emerged as the APC gubernatorial candidate.[23] He emerged and will be contesting for the Governor of Oyo state under the umbrella of Accord Party after the previous candidate Ayodele Oyajide stepped down.[24][25]
On 27th of July 2023, Adelabu was included in President Bola Ahmed Tinubu's 28-man ministerial nomination.
He was made minister of power by president Bola Tinubu on 16 August, 2023[26]
References
edit- ^ "Mr. Adebayo Adelabu". Central Bank of Nigeria: Board of Directors. n.d. Archived from the original on April 19, 2018. Retrieved April 23, 2018.
- ^ a b "Who is Adebayo Adelabu?". The Nation Nigeria. Oyo State, Nigeria: Vintage Press. February 21, 2016. Archived from the original on March 12, 2018. Retrieved April 23, 2018.
- ^ "CBN deputy governor, Adelabu resigns - Daily Post Nigeria". May 31, 2018. Archived from the original on June 20, 2018. Retrieved June 20, 2018.
- ^ "CBN Deputy-Gov, Adelabu resigns - Vanguard News". May 31, 2018. Archived from the original on June 20, 2018. Retrieved June 20, 2018.
- ^ "The Man Called Adegoke Adelabu 'Penkelemesi'". Old Naija. July 27, 2017. Archived from the original on June 25, 2018. Retrieved June 25, 2018.
- ^ "Oyo Guber 2019: Ibadan Elitist Lagelu Grammar School To Field Eight Old Boys". PM Parrot. July 4, 2017. Archived from the original on June 25, 2018. Retrieved June 25, 2018.
- ^ "Central Bank of Nigeria:: Board of Directors". Central Bank of Nigeria | Home. Retrieved June 3, 2023.
- ^ Akinsanmi, Gboyega (October 16, 2016). "Oyo Council Nominates CBN Chief for 2019 Guber Race". This Day. Archived from the original on June 24, 2018. Retrieved April 23, 2018.
- ^ "Board of the CBN". Central Bank of Nigeria. Archived from the original on June 25, 2018. Retrieved June 25, 2018.
- ^ "Adelabu: a quintessential banker, role model". The Nation. December 6, 2015. Archived from the original on June 28, 2018. Retrieved June 27, 2018.
- ^ "Bayo Adelabu Assumes as New CBN Deputy Governor". Invest Advocate. April 9, 2014. Archived from the original on June 28, 2018. Retrieved June 27, 2018.
- ^ "FirstBank Appoints 5 Management Executives". Nigeria Communications Week. September 28, 2010. Archived from the original on June 28, 2018. Retrieved June 27, 2018.
- ^ "Bayo Adelabu formally assumes role as new CBN Deputy Governor". Pro Share. Archived from the original on June 25, 2018. Retrieved June 25, 2018.
- ^ "I still work with CBN, says Adebayo Adelabu". Tempo. Archived from the original on June 28, 2018. Retrieved June 27, 2018.
- ^ "CBN Topshot Bayo Adelabu Constructs New Hotel In Ibadan". Paper Mache. Archived from the original on June 24, 2018. Retrieved June 24, 2018.
- ^ "Adelabu resigns as CBN deputy gov to pursue guber ambition". May 31, 2018. Archived from the original on June 20, 2018. Retrieved June 20, 2018.
- ^ "Adelabu, ex-CBN deputy governor, joins Oyo governorship race - Vanguard News". June 20, 2018. Archived from the original on June 21, 2018. Retrieved June 21, 2018.
- ^ "Ex-CBN deputy gov, Adelabu, enters Oyo guber race". June 21, 2018. Archived from the original on June 21, 2018. Retrieved June 21, 2018.
- ^ Ajayi, Ola (September 4, 2015). "100 years after: Ibadan remembers Adelabu Penkelemeesi". Vanguard Newspapers Nigeria. Ibadan. Archived from the original on April 27, 2018. Retrieved April 27, 2018.
- ^ Adebayo, Musliudeen (October 1, 2018). "Ex-CBN Deputy Governor, Adelabu emerges APC gubernatorial candidate in Oyo". Daily Post Nigeria. Ibadan. Archived from the original on October 1, 2018. Retrieved October 1, 2018.
- ^ "APC candidate, Adelabu concedes defeat, congratulates PDP's Seyi Makinde". March 11, 2019. Archived from the original on March 16, 2019. Retrieved March 11, 2019.
- ^ "Oyo Governorship: APC's Adelabu reacts to defeat | Premium Times Nigeria". March 11, 2019.
- ^ "Oyo gov aspirant, Adelabu, joins Accord Party". Punch ng.
- ^ "Accord affirms Adelabu as Oyo gov candidate". Punch ng. Olufemi Olaniyi.
- ^ "2023: Adelabu Emerges Accord Party's Governorship Candidate In Oyo". Daily Trust.
- ^ Tolu-Kolawole, Deborah (August 16, 2023). "Full list of ministers and designations". Punch Newspapers. Retrieved August 17, 2023.