Adebayo Adelabu, grandson of Adegoke Adelabu ‘Penkelemesi’, has resigned from his position as Deputy Governor, Operations of Central Bank of Nigeria, in order to pursue his ambition of becoming the next Governor of Oyo State.
His resignation officially takes effect from July 15.
In a letter to accept the resignation, dated May 24, 2018, President Muhammadu Buhari thanked Adelabu for his service to the country and wished him the best for his political adventure.
“While appreciating your services in the Central Bank of Nigeria since 9th April 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,” read the letter.
Adelabu assumed duty as a Deputy Governor at the CBN on April 9, 2014, serving at different times as Deputy Governor in charge of Financial System Stability, Corporate Services and lastly Operations.
A First Class graduate of Accounting from Obafemi Awolowo University, he was the General Manager and the West African Regional Head of finance and strategy (Consumer Banking Business) for Standard Chartered Bank. He also served as the Chief Financial Officer of First Bank Nigeria Ltd, before his appointment at CBN.
Adelabu is the grandson of Adegoke Adelabu, who lived just between September 1915 and March 1958 but was a prominent personality in the politics of Ibadan and the Western Region in the pre-Independence era.
He was Opposition Leader at the Western House of Assembly between 1956 and 1958, Chairman of Ibadan District Council between 1954 and 1956 and Federal Minister of Natural Resources and Social Services between January 1955 and January 1956.
He is often mentioned in Yoruba and Nigerian history as the author of the expression, ‘penkelemesi’, a Yorubanisation of the phrase ‘peculiar mess’.