Adelabu Resigns as CBN Deputy Gov for Politics

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  • Buhari wishes ex-deputy governor well

Ndubuisi Francis in Abuja and Ademola Babalola in Ibadan

President Muhammadu Buhari has formally accepted the disengagement of the Deputy Governor in charge of Operations at the Central Bank of Nigeria (CBN), Mr. Adebayo Adelabu, with effect from July 15, 2018.

A statement issued by the acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said in a letter dated May 24, 2018 and personally signed by him, Buhari thanked Adelabu for his services to the country and wished him the best in his future ambitions.

Part of the letter read: “While appreciating your services in the CBN since April 9, 2014, I wish you the best in your future ambitions and continued commitment to public service in our country and specifically, as you seek to play a more active role in politics, in your home state.”

Adelabu formally assumed duty as Deputy Governor at the CBN on April 9, 2014 and served at different times as Deputy Governor in charge of Financial System Stability (FSS), Corporate Services (CS), and lastly Operations (Ops), before he tendered his letter of disengagement.

For months, rumours were rife that Adelabu had resigned owing to his reported bid to govern Oyo State from 2019.
A grandson of late popular Ibadan politician, Alhaji Adegoke Adelabu, he is also currently the chairman of Nigeria Interbank Settlement Systems Plc (NIBBS).

The one-time First Bank Executive Director is also a board member of the Assets Management Corporation of Nigeria (AMCON) and the Nigeria Security Printing and Minting Company (NSPMC).
Meanwhile, President Buhari has accepted Adelabu’s disengagement letter.

A letter dated May 24, 2018 and personally signed by Buhari also appreciated Adelabu’s services in various departments of the CBN since April 9, 2014 when he joined the apex bank.

The president’s letter further read: “While appreciating your services in various departments of the CBN since April 9, 2014, I wish you the very best in your future ambitions and continued commitment to public service in our country and specifically, as you seek to play a more active role in politics in your home state. Please accept my very best wishes.”

With preparations gearing up for the 2019 elections, several interest groups in Oyo State have since come out to back the aspiration of Adelabu, a leading gubernatorial aspirant of the ruling All Progressives Congress (APC) in the state ahead of the 2019 general election, urging him to run for the governorship of the state.

A descendant of legendary Ibadan politician in pre-independence Nigeria, Adegoke Adelabu (Penkelemesi), the young Adelabu o is seen by many as a suitable successor to the incumbent Governor, Senator Abiola Ajimobi, judging by his pedigree and contribution to the stability of the Nigerian financial sector.