Bayo Adelabu | |
|---|---|
 Bayo Adelabu | |
| Immediate Past 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 | All Progressives Congress |
| Alma mater | Lagelu Grammar School, Ibadan Obafemi Awolowo University Harvard Business School Stanford Business School Wharton Business School Kellogg School of Management at Northwestern University Columbia Business School London Business School |
Bayo Adelabu (born September 28, 1970) is the immediate past Deputy Governor, Operations of the Central Bank of Nigeria.[1] He was born to the family of Mr & Mrs Aderibigbe Adelabu of Oke- Oluokun compound, Kudeti Area in Ibadan. He is a grand-son of the late Alhaji Adegoke Adelabu (popularly known as Penkelemesi), a prominent personality in the politics of Ibadan Land and subsequently that of the Western Region of Nigeria right before the country's independence in 1960 and Nigeria’s first Federal Minister of Social Services and Natural Resources.[2]
Early Life and Education
editBayo had his primary education at Ibadan Municipal Government Primary School, Agodi Ibadan between 1976 and 1982 and secondary school education at Lagelu Grammar School, Ibadan between 1982 and 1987. He graduated at the age of 21 with a First Class Degree in Accounting from Obafemi Awolowo University, Ile-Ife and 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. He has also taken up professional courses in various business schools including Harvard Business School, Boston USA, Stanford Business School, Carlifonia USA, Wharton Business School, Pensylvania USA, University of Columbia Business School, New York USA, Kellogs Business School, USA, Euromoney and the University of London Business School, London UK.[3]
Professional Career
editHe started his career with PriceWaterhouse now PricewaterhouseCoopers, an international firm of Chartered Accountants and Management Consultants where he worked for seven years. While with the firm, he led and managed various audit and consultancy engagements for large banks and non-bank financial institutions within and outside Nigeria.
Then briefly, 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.
He then moved to Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business) covering Nigeria, Ghana, Cameroon, Cote d’ivoire, Gambia and Sierra Leone; with dual offices in Lagos and Accra . He was there till 2009 from where he was head hunted to become an Executive Director/Chief Financial Officer (CFO) of Nigeria's largest bank, First Bank of Nigeria Plc. (FBN) at the age of 39. [4]
Bayo was appointed by former President Goodluck Ebele Jonathan in February 2014 as Deputy Governor, Operations of the Central Bank of Nigeria (CBN).[5]
He currently 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).
On May 24, 2018, Adelabu resigned from his position as Deputy Governor of the (CBN), his resignation was accepted by President Mohammadu Buhari.[6]
Memberships
editHe is the pioneer and serving Chairman of the 1982/87 Set of the Lagelu Grammar School, Ibadan Old Boys’ Association and once the Treasurer of the Lagos branch of the National Alumni Association. In year 2012, he led his set, while celebrating their 25th graduation anniversary, to renovate 2 blocks consisting of six classrooms, to donate 500 units of students’ chairs and tables, 10,000 pieces of big exercise books and 10 computer workstations to the school. And lately, his set just built a block of six toilets for the use of the school. This is in addition to other various supports his set alumni have been rendering to the school under his able leadership. Consequently, the Executive Governor of the state, Senator Abiola Ajimobi appointed Bayo Adelabu as the Pioneer chairman of the Lagelu Grammar School Governing Council as well as the Chairman of of the Board of Oyo State Security Trust Fund in 2017.[7]
He is a member of Ikoyi Club 1938, Jericho Businessmen Club and Ibadan Golf Club. Bayo is happily married to Oluwaseyi Omolara and blessed with children.
Philanthropy
editIn his personal capacity, Bayo uses the platform of his NGO, Bayo Adelabu Foundation (BAF) to execute his various philanthropic gestures to the society which include but not limited to Scholarships and Other Educational support to indigent students, Health support to the less privileged, Artisans and Traders Financial support, Youth Engagement and Rehabilitation, Support for the Aged, Widows and the Physically challenged and Basic communal infrastructure supports.[8]
Chieftancy Title
editThe Central Council of Ibadan Indigenes (CCII) conferred on him in year 2010 the honour of Ibadan Distinguished Fellowship Award. In addition to this in 2012, the then Olubadan of Ibadan, Oba Odulana Odugade counted him worthy of conferment of a Chieftaincy title of Agbaakin Parakoyi of Ibadanland hence he is referred to in traditional circles as Chief Adebayo Adelabu.[9]
Personal Businesses
editBayo Adelabu is also a business man 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, all with a cumulative staff strength of over 500 on his monthly pay roll.[10]
Political Life
editAdebayo resigned from the (CBN) with the intention of seeking election into the Governorship Position of Oyo State in 2019. He made his intention official on June 20th, 2018 when he visited the All Progressive Congress party secretariat in Ibadan to make his declaration and also pick up the Governorship aspirant form. [11]
- ^ "Mr. Adebayo Adelabu". Central Bank of Nigeria: Board of Directors. n.d. Retrieved April 23, 2018.
- ^ [thenationonlineng.net/who-is-adebayo-adelabu/ "Who is Adebayo Adelabu?"]. The Nation Nigeria. Oyo State, Nigeria: Vintage Press. February 21, 2016. Retrieved April 23, 2018.
{{cite news}}: Check|url=value (help) - ^ "Grandson Of Penkelemesi, Fatherless At 4, Nurtured By His Grandmum…Story Of Bayo Adelabu At 47". Inside Oyo.
- ^ "Adelabu: a quintessential banker, role model". The Nation.
- ^ "SENATE CONFIRMS ADELABU AS CBN DEPUTY GOVERNOR". Information Nigeria.
- ^ "Adelabu Penkelemesi's Grandson Leaves CBN As Deputy Governor To Contest Oyo Governorship". Sahara Reporters.
- ^ "PHOTOS: Adelabu To Build N75m SGB Building For Lagelu Grammar School". Inside Oyo.
- ^ "Children's Day: Bayo Adelabu Foundation earmarks N10m in scholarships for 150 Oyo public schoolchildren". Tribune.
- ^ "Oyo 2019: Adelabu promises happy times for Oyo residents". Tribune.
- ^ "CBN Topshot Bayo Adelabu Constructs New Hotel In Ibadan". Paper Mache.
- ^ "CBN's Adelabu Finally Declares Intention for Oyo Guber Race, Rolls Out Agenda". This Day.