Adebayo Adelabu Biography: Age, State Of Origin, Education, Career, Minister Of Power, Wife, Net Worth
Adebayo Adelabu Biography
Adebayo Adelabu is a prominent Nigerian figure who has held various significant positions in the financial sector. Adelabu’s professional career began at Adelabu embarked on his professional journey at PriceWaterhouse (now known as PricewaterhouseCoopers), where he dedicated seven years to overseeing audit and consultancy projects. Subsequently, he transitioned to roles at First Atlantic Bank and later assumed the position of West African Regional Head of Finance and Strategy at Standard Chartered Bank.
In 2014, Adelabu was appointed as the Deputy Governor, Operations of the Central Bank of Nigeria (CBN), a position he held until 2018. He is also known for his political involvement as the 2019 Oyo State gubernatorial candidate for the All Progressives Congress. As of August 21, 2023, he is serving as the Federal Minister of Power in Nigeria.
Adelabu has a strong educational background with a first-class degree in Accounting from Obafemi Awolowo University and has taken professional courses at several prestigious institutions, including Harvard Business School. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria.
Adebayo Adelabu Age
Adebayo Adelabu is 53 years old as of 2024.
Adebayo Adelabu State Of Origin
Adebayo Adelabu hails from Oyo State.
Adebayo Adelabu Early Life and Education
Adebayo Adelabu was born on September 28, 1970, in Ibadan, Oyo State, Nigeria and he hails from a lineage marked by prominence and influence. His early life was rooted in the Kudeti Area of Ibadan, within the Oke-Oluokun compound, where he was born to Aderibigbe Adelabu. His grandfather, Adegoke Adelabu, is a notable figure in Nigerian history, remembered for his significant contributions to the country’s political and social landscape.
Adelabu’s educational journey began at the Ibadan Municipal Government primary school, Agodi Ibadan, where he attended from 1976 to 1982. In 1982, he transitioned to Lagelu Grammar School, Ibadan, where he continued to excel academically until 1987.
Upon completing his secondary education, Adelabu embarked on his tertiary journey at Obafemi Awolowo University, Ile-Ife. There, he pursued a degree in Accounting and graduated with first-class honors, a testament to his dedication and academic excellence.
Adelabu’s commitment to furthering his education did not wane after his undergraduate studies. He became a distinguished Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Chartered Institute of Bankers of Nigeria, and an Associate Member of the Institute of Directors of Nigeria and the United Kingdom.
Moreover, his quest for knowledge led him to prestigious institutions such as Harvard, Stanford, Wharton, Columbia, Kellogg, Euromoney, and the University of London, where he took up professional courses that would greatly enrich his professional career.
Adebayo Adelabu Career
Adebayo Adelabu’s professional journey began at PriceWaterhouse (now PricewaterhouseCoopers), where he spent seven years leading audit and consultancy engagements for banks and financial institutions within and outside Nigeria. His expertise in finance was further honed during a secondment to the Central Bank of Nigeria (CBN) in 1999, where he led the finance team on the CBN re-engineering and corporate renewal project known as “Project EAGLES”.
In the year 2000, Adelabu transitioned to First Atlantic Bank, assuming the role of Financial Controller and Group Head of Risk Management and Controls. His exceptional performance led to his promotion to Chief Inspector of the Bank in 2002, and subsequently, to Group Head of National Public Sector Business in 2003.
Adelabu’s career trajectory took a significant turn when he joined Standard Chartered Bank as the West African Regional Head of Finance and Strategy for the Consumer Banking Business. With dual offices in Lagos and Accra, he played a pivotal role in the bank’s financial planning and strategic initiatives across West Africa until 2009.
The culmination of his banking career came when he was appointed as an Executive Director and Chief Financial Officer (CFO) of First Bank of Nigeria Plc. (FBN), Nigeria’s largest bank, at the young age of 39.
In 2014, Adelabu’s expertise and leadership qualities were recognized at the national level when former President Goodluck Jonathan appointed him as Deputy Governor, Operations, of the Central Bank of Nigeria (CBN).
Beyond his roles in the banking industry, Adelabu has been actively involved in various boards and institutions, contributing his expertise to the Nigeria InterBank Settlement Systems (NIBBS), Financial Institution Training Centre (FITC), Federal Inland Revenue Services (FIRS), Nigeria Security Printing and Minting Company (NSPMC), Assets Management Corporation of Nigeria (AMCON), and Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL).
Adelabu’s career is not limited to finance alone; he is also a successful entrepreneur with investments in hospitality, entertainment, agriculture, and real estate. He holds the position of Group Chairman for Bayse One Group of Hotels, which includes the Best Western Plus Hotels in Ibadan, and oversees Bayse One Farm.
Offices Held By Adebayo Adelabu
Adebayo Adelabu has held several notable positions throughout his career. Here’s a list of offices he has occupied:
- Deputy Governor, Operations, Central Bank of Nigeria (CBN) – He served in this capacity from April 9, 2014, until May 24, 2018.
- Executive Director and Chief Financial Officer (CFO) at First Bank of Nigeria Plc. (FBN) – Prior to his appointment at the CBN, he held this position at Nigeria’s largest bank.
- Financial Controller and Group Head of Risk Management and Controls at First Atlantic Bank – He was later promoted to Chief Inspector of the Bank in 2002 and Group Head of National Public Sector Business in 2003.
- Federal Minister of Power, Nigeria – He assumed office on August 21, 2023, and is currently serving in this role.
- West African Regional Head of Finance and Strategy for Standard Chartered Bank – His role covered the Consumer Banking Business with dual offices in Lagos and Accra.
Adebayo Adelabu Wife and Son
Adebayo Adelabu is married to Mrs. Oluseyi Adelabu and the couple has a son together.
Adebayo Adelabu Net Worth
Adebayo Adelabu has an estimated net worth of $10 million as of 2024.
Oluseyi Adelabu Social Media Handles
- Twitter: @BayoAdelabu
- Instagram: @bayo_adelabu
