In this post, platinumtimes.ng chronicles the life story, family and net worth of Adebayo Adelabu.
Adebayo Adelabu is the current Minister of power as appointed by president Bola Ahmed Tinubu. He was the flag bearer of the All Progressive Congress governorship elections for 2019.
He gained popularity through his roles in the Central Bank of Nigeria and his involvement in the Nigerian political landscape. He is CEO of Bayse One Group of Hotels and and Bayse One Farm, Ibadan.
Profile preview
Full Name: Adebayo Abdul- Waheed Adelabu
Born: 28th September 1970
Place of birth: Ibadan, Oyo State, Nigeria
Education:Obafemi Awolowo University
Occupation: Banker, Politician, Businessman
Portfolio: Minister of Power
Education
Adelabu holds a first class degree in Accounting from the Obafemi Awolowo University, Ile-Ife.
He completed his primary education at the Ibadan Municipal Government primary school, Agodi Ibadan in 1982 before getting his O’level at Lagelu Grammar School, Ibadan in 1987.
He also holds professional certificates from international business schools such as Harvard, Stanford, Wharton, Columbia, Kelloggs, Euromoney, and the University of London.
Family
Adedayo hails from a notable family in Kudeti, Ibadan Oyo State Nigeria. His father is Aderibigbe Adelabu but there are no details about Adedayo’s mother and siblings. His grandfather is Adegoke Adelabu, a renowned man in their community.
Adedayo was born on 28th September, 1970 and he is married but information about his wife and children are not yet disclosed to the media.
Career
Adelabu has worked as an auditor with financial institutions and also with the PriceWaterhouse (now PricewaterhouseCoopers) which is company of chartered accountants and management consultants before working with the First Atlantic Bank, where he held various positions, including Financial Controller, Chief Inspector, and Group Head of National Public Sector Business.
Adelabu is a business expert with investments across 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.
He also worked with Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business). He then made a significant move to become an Executive Director and Chief Financial Officer (CFO) of First Bank of Nigeria Plc (FBN), one of the largest banks in Nigeria.
Owing to his commitment and dedication to his work, he was appointed Deputy Governor, Operations of the Central Bank of Nigeria (CBN) by president Goodluck Ebele Jonathan in 2014.
Adelabu has served 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 has also been 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).
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.
Politics
Adelabu ventured into Nigerian politics and made a bid for the governorship position of Oyo State.
He joined the All Progressives Congress (APC) and officially declared his intention to run for the position on June 20, 2018. He emerged as the APC gubernatorial candidate for Oyo State in September 2018, winning the party primaries.
However, he was defeated in the 2019 Oyo State gubernatorial election, losing to Oluwaseyi Makinde of the People Democratic Party (PDP).
Adelabu’s political journey continued as he switched to the Accord Party where he emerged as the Party’s gubernatorial candidate for the 2023 elections in Oyo State after the initial candidate stepped down.
Adebayo Adelabu’s name was among the list of ministers that were screened and cleared by the Senate.
He was later appointed Minister of Power by president Bola Ahmed Tinubu.
Net Worth
At the time of this post, Adelabu’s estimated net worth are not yet feasible but would be updated in due time.