Chief Adebayo Adekola Adelabu FCA, FCIB is a direct grandson of late Alhaji (Hon.) Adegoke Adelabu (popularly known as Penkelemesi), the most flambouyant and articulate grassroot politician of the pre-independence political era in the South West of Nigeria. Late Adegoke Adelabu was at various times in the 1950’s a Federal Minister, Leader of Opposition in the Western Parliament, Vice President of the NCNC and the pioneer Chairman of Ibadan Native Authority which now comprises of the eleven existing local governments in Ibadan Metropolis and less cities.
Chief Adebayo Adelabu is presently the Oyo State Gubernatorial Candidate of the Accord Party in the coming General Elections in 2023.
He contested the 2019 Governorship election under the All Progressive Congress (APC). He however lost to the incumbent governor who was the PDP’s candidate. He voluntarily resigned his appointment as the Deputy Governor, Operations at the Central Bank of Nigeria in July 2014 to join local politics in Oyo State and later emerged as the Gubernatorial flagbearer for APC in a keenly contested primary elections in September 2018.
Prior to his appointment as the Deputy Governor of the Central Bank of Nigeria (CBN), Chief Adelabu was an Executive Director/Chief Financial Officer (ED/CFO) of First Bank of Nigeria Plc. Prior to that, he held the position of General Manager and the West African Regional Head of Finance and Strategy (Consumer Banking Business) at Standard Chartered Bank Ltd.
Chief Adebayo Adelabu was born on 28th September 1970 to Mr & Mrs Aderibigbe Adelabu of Adegoke Adelabu’s Compound, Oke-Oluokun Ibadan, Oyo State. He is a direct grandson of the late Alhaji Adegoke Adelabu (popularly known as Penkelemesi), the most flambouyant and articulate grassroot politician of the pre-independence political era.
He lost his father in 1975 at a tender age of four, therefore he was brought up by his paternal grandmother together with his six other siblings. Growing up was very tough as the old grandmother who happened to be a petty trader, had seven children to cater for as their father was her only child. Chief Adelabu grew up selling different kind of commodities on the street to assist his grandmother.
In spite of these tough circumstances, he was determined to break the jinx of poverty by ensuring that he went to school at all cost where he came out in flying colours. This also afforded him the opportunity to be conversant with all the nooks and crannies of Ibadan, his home town and the entire of Oyo State.
Chief Adebayo Adelabu 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.
He 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 a chartered accountant with over 26years post qualification experience. He is currently a fellow of the Institute of Chartered Accountants of Nigeria (FCA) and Chartered Institute of Bankers (FCIB). He is also an associate member of the Institute of Directors of Nigeria and the UK as well as a member of the United States Institute of Internal Auditors.
He 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, Harvard Business School, Boston, Wharton Business School, Pensylvania, Stamford Business School, California, Kellogs Executive Business school, Evanston Chicago and Columbia University Business School, New York, all in the United States of America.
Chief Adelabu started his professional training with the International Audit and Consulting firm, Price Waterhouse, now PricewaterhouseCoopers and rose to the position of Audit manager and Senior Consultant before resigning in year 2000 to join the Banking industry. He later joined First Atlantic Bank Plc in September 2000 as the Financial Controller and later Chief Inspector of the Bank. He left the Bank in July 2003 to join First Bank.
He joined First bank as Deputy Financial Controller and later Pioneer Head of Budget and Performance Management dept, a position he held till September 2007 when he left to join Standard Chartered Bank Ltd. At Standard Chartered Bank he was a General Manager and West African Regional Head of Finance for Consumer Banking. In November 2009, Adelabu was re-invited by First Bank Plc, as the Group Financial Controller and later an Executive Director/Chief Financial Officer (CFO) and a member of the Board of Directors of the bank.
On 20 February 2014, the then President appointed Chief Adelabu as Deputy Governor of Central Bank of Nigeria. He resumed CBN as Deputy Governor, Financial Systems Stability but later redeployed as the Deputy Governor, Corporate Services. He left the Central Bank as the Deputy Governor, Operations. While at CBN, he was the Chairman, Board of Directors of the NIBBS and FITC and also a director on the board of Nigeria Security Printing and Minting Company, Assets Management Company of Nigeria (AMCON) as well as NIRSAL.
In 2010, Chief Adelabu was conferred with the Distinguished Fellow Award of the Central Council of Ibadan Indigenes (CCII) and was also honoured with the Chieftaincy title of Agbaakin Parakoyi of Ibadanland by the Olubadan of Ibadanland, Oba (Dr) Samuel Odulana Odugade I. He was also installed Aare Asoludero of Ado awaye by the paramount ruler of the town.
He has consciously focused his entrepreneurial activities on Ibadan and Oyo state at large which, in addition to enriching the city’s skyline, have empowered and created jobs for the state’s indigenes and residents. His entrepreneurial drive focusese on Real Estate, Hospitality and Agriculture with over three thousand employees on his monthly payroll in addition to thousands of indirect employment through supplies and services. He is the owner of Bayse One Properties, Bayse Hospitality and Entertainment Ltd and Bayse One Farms. Chief Adelabu’s philanthropic interventions, through Bayo Adelabu Foundation (BAF), in the areas of education, health, and other forms of social support have also added meaning to the lives of several people as well as replacing the frowns on their faces with smiles. Beyond job creation and boosting local economy, He also has a platform to develop the capacity of others, especially young people, through mentoring and youth development activities.
He is a member of Ikoyi Club 1938, Jericho Businessmen Club and Ibadan Golf Club. He is married to Oluseyi Omolara and they are blessed with children.
