Home Opinion The Political Side of CBN Deputy Governor Bayo Adelabu

The Political Side of CBN Deputy Governor Bayo Adelabu


By Sofowora Oladapo


Adebayo Adelabu, a former Director at First Bank Plc, is currently the Deputy Governor of Central Bank. Bayo is not new on the social and business radar, most especially the banking sector where he spent the better part of his life building a career and carving a niche for himself. The banking whiz kid, is also the grand son to defunct Western Region politician of the first republic, Chief Adegoke Adelabu known as ‘Penkelemens’ from Oyo state, Ibadan and also a godson to late business mogul Alao Arisekola.

With the sobriquets like ‘Signature’, ‘Penkelemens’, and ‘Base one’, the Ibadan ‘Big Boy’ is the toast of many within the society radar. With his deep pocket full with much financial fire power, he is generous to the fault. Many takes his generosity  and philanthropic gestures as a political move, because he is vying to be the number one man of Oyo state in 2019. The CBN top shot openly said that giving has been part of him even before he started nurturing the dream of becoming a politician.

As the politics of Oyo state heats up on who will succeed the incumbent Governor Abiola Ajimobi come 2019, Adebayo Adelabu has been tipped to be a possible replacement at the Agodi Government House. He is currently gathering momentum and testing his political clout for the forthcoming general elections.

On Monday, 7th of August, there was a twist of faith as Bayo Adelabu was invited to the Ikoyi office of the anti-graft agency (EFCC) for interrogation, over an alleged crime of mismanagement of funds and misuse of office, while he served as an Executive Director at First Bank. After several hours of questioning and interrogation, He was said to have been released on administrative bail. He was told to return when needed for further investigation.

According to political observers in Oyo state, the latest development could jeopardise his political ambition, if found guilty and charged to court. His chances of contesting for the highly coveted governorship seat in Oyo state, might just be a dream that won’t see the light of the day.       


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