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What Are His Chances & Plans
As the race for who will replace the incumbent governor of Oyo State, Senator Abiola gather momentum one name that keeps recurring is that of Chief Adebayo Adekola Adelabu (FCA), who is a Deputy Governor of the Central Bank of Nigeria.
For those who don’t know him lets quickly tell you that he is a distinguished Accountant and an accomplished banker who has had a successful career in Corporate Nigeria. He is also a son of the soil of Ibadan. He is the grandson of late Chief Adegoke Adelabu one of the celebrated politicians of the 1st Republic who was popularly called Penkelemesi in those early days, in the 60s.
City People can authoritatively reveal that over the last few years pressure has been mounted on this easy going Ibadan born banker to run for governorship. Those who want him to run have their reasons. One, he is eminently qualified. Two, he has had a distinguished corporate career. And three, they feel in 2019, anyone who wants to run Oyo State should be from the private sector. He needs to be able to run the state well and generate more internally generated revenue, like Lagos Governor, Akinwunmi Ambode is doing.
But will Bayo Adelabu accept to run? In terms of popularity he is quite popular. He has invested a lot in Ibadan from owning a shopping plaza here and a hotel there. He has employed so many Ibadan indigenes. He has also supported the educational careers of many less privileged. Over the last few years he has been involved in the improvement of Ibadan, his home town.
But joining the race will mean leaving his corporate job for Politics. It will also mean joining one of the 3 major parties in Oyo State namely-APC, PDP and Accord Party. Will he? At a point, a few months back the rumour was strong in Oyo State that he had the backing of Oyo State Governor, Senator Abiola Ajimobi and that he may well be the annointed candidate. But no one seems to be able to confirm that because the Governor is keeping his cards close to his chest. Bayo Adelabu too is keeping mum, consulting widely. But City People can authoritatively confirm that he has a lot of goodwill.
But how ready is Adebayo Adelabu? One of the things those promoting him are selling is his rich pedigree and accomplished career. He is not 50 yet. Born on 28th September 1970 to Mr & Mrs. Aderibigbe Adelabu of Adegoke Adelabu’s Compound, Oke-Oluokun lbadan, Oyo State, he is a direct grandson of one of the founders and fathers of Nigerian Nation, the late Alhaji (Hon.) Gbadamosi Oduola Akande Adegoke Adelabu (popularly known as Penkelemesi). Bayo had his primary education at Ibadan Municipal Government Primary School, Agodi Ibadan between 1976 and 1982, his Secondary school education at Lagelu Grammar School, Ibadan between 1982 and 1987 with Distinctions. He later proceeded to Obafemi Awolowo University (OAU) between 1988 and 1992 to study Accounting. He graduated in 1992 with a First Class honours degree in Accounting.
Bayo passed the final qualifying examinations of the Institute of Chartered Accountants of Nigeria (ICAN) and was admitted as an Associate member of the institute in 1996, therefore he is Chartered Accountant with about 20 years post qualification experience. He is currently a fellow of the Institute of Chartered Accountants of Nigeria.
He started his professional training with the International Audit and Consulting firm of Price Waterhouse which later became Price Waterhouse Coopers where he worked for 8 years rising to the position of Audit manager and Senior Consultant in the Financial Services Industry division of the firm before resigning in year 2000 to join the Banking industry.
He joined First Atlantic Bank Plc in September 2000 as the Financial Controller and Group Head, Risk Management & Controls.
He worked in First Atlantic Bank for about four years holding various positions including Chief Inspector of the Bank and Group Head, National Public Sector business of the bank. He left First Atlantic Bank as a Senior Manager in July 2003 to join First Bank of Nigeria Plc.
He joined First Bank of Nigeria Plc in August 2003 as a Senior Manager in the Finance and Performance Management department of the Bank. In April 2005, he was promoted to Principal Manager in the same department in record time and made the Deputy Financial Controller of First Bank of Nigeria PIc. In April 2006, Bayo was appointed as the Pioneer Head of Budget and Performance Management Department of First Bank Group, reporting directly to the Managing Director/Chief Executive Officer of the Bank. He held this position till September 2007 when he left First Bank to join Standard Chartered Bank Ltd.
In September 2007, Bayo joined Standard Chartered Bank as a General Manager and Head of Finance for Consumer Banking division of the Bank. In less than one year, he was elevated to the position of West African Regional Head of Finance for Consumer Banking, in September 2008, overseeing the Finance function in 6 West African countries namely Nigeria, Ghana, Cameroon, Sierra Leone, Gambia and Cote D’ivoire.
In November 2009, Bayo was re-invited by First Bank, to join its newly constituted Executive team as the Group Financial Controller of the Bank. Having seen his contributions to the Bank in less than one year of re-joining, the Board of First Bank appointed him as an Executive Vice President and Chief Financial Officer (CFO) of the bank effective October 1, 2010. He was recently elevated as a member of the Board of Directors of the bank as an Executive Director, Finance.
Bayo has attended various local and international training and seminars including the famous University of London Institute of Management Development, the Euromoney Institute and the United States’ Institute of Internal Auditors, Orlando Florida, United States of America. He is a member of the Institute of Directors both in Nigeria and the United Kingdom.
Outside his official life, Bayo has solely and jointly been involved in quite a number of activities that has added value to humanity in its own little way in Nigeria generally and in Ibadan in particular which earned him the Ibadan Distinguished Fellows Award organised by the Central Council of Ibadan Indigenes.
He is the founding President of De Clique Socio-Philanthropic Club in Surulere, Lagos,a club which has been involved in various programs as Scholarships, School Renovations, Environment Rehabilitation and provision of food and amenities to the motherless and handicapped houses in the last seven years.
He is the founder of IC25 Investment Club which has in no small way through its investment activities guaranteed stable income after retirements to all its 25 members through intelligent investments decisions and positive social networking.
Bayo is a member of the elitist Jericho Business Club (JBC) and was an executive member of the club for eight years. He’s a member of the Scholarship Committee of the Club that has as its term of reference award of Scholarships to 10 distinguished undergraduates of Ibadan origin in Nigerian Universities annually.
This scholarship program has been a success for the past five years.
Bayo has also single-handedly assisted less-privileged Ibadan indigenes, including family and non-family members overcome financial difficulties at the point of need at various times as well as mentoring younger ones on academic career and vocational/entrepreneurship development.
Bayo has not forgotten his Alma Mata (Lagelu Grammar School) as he was once the Treasurer of the Lagos Branch of the National Old Boys Association of Lagelu Grammar School and the current Chairman of the 1986/87 set of the Old Boys Association.
In provision of employment opportunities to Ibadan indigenes outside his place of work (i.e First Bank of Nigeria Plc), Bayo has recently completed a high-taste executive hotel and suites in Ibadan that employ nothing less than 30 individuals resident in Ibadan, majority of who are Ibadan indigenes. This is just the first phase of a three phase hospitality plan across Ibadan by this gentleman in a bid to open up employment opportunities to Ibadan indigenes.
Lastly, Bayo has been involved in a lot of Youth development activities across the length and breadth of the country through organized career talks, paper presentations and direct counseling/mentoring.
Bayo who is also a socialite belongs to many other clubs such as the prestigious Ikoyi Club 1938 and Lagos Country Club, Ikeja.
Bayo was conferred with the chieftaincy title of Agba Akin Parakoyi of Ibadanland by His Royal Majesty, Oba (Dr) Samuel Osundiran Odulana, the Olubadan of Ibadanland on April 20,2013.
Bayo was nominated and announced by the President of the Federal Republic of Nigeria, Dr Goodluck Ebele Jonathan (GCFR), for the position of the Deputy Governor of the Central Bank of Nigeria on February 20, 2014 and finally screened and confirmed by the Senate on March 20, 2014.
Bayo is happily married to Mrs Oluseyi Omolara Adelabu and they are blessed with three sons and a daughter.
