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Tuesday, 15 January 2019

Agbaakin Parakoyi, Bayo Adelabu - The Silent Achiever And Reincarnation of a Genius

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The road leading to Adebayo Adelabu Penkelemesi life successes are neither without bumps or sketchy path, they are pathway maligned with a jagged edge and sharp turns yet he has risen beyond these life challenges and make merry of the turbulence therein. Whatever life throws at you even if it hurts you, just be strong and fight through it. Remember, strong walls shake but never collapse.

If you ever inquire about his early life from him or his friends, it is never kept in shade from the public glare simply because it connotes a song of victory, many people are in awe of his growing up days leading to his success story. He started up with his grandmother whom he lived with and while keeping up with the chores necessary from his paternal grandmother, he subsequently excelled in his academics. Like many kids back then who grew up from a rather poor background, he had to hawk food items around and sell to eat. If you care to listen, he would tell you he trades for his granny round the outer cities of Ibadan which were mainly market squares back then. He would jokingly add that 'you'd be proud to complete two meal a day in those days' as you would have to sell before you can eat from the profit accrued.


Early life and education
Adelabu was born to Aderibigbe Adelabu of Oke-Oluokun compound, Kudeti Area in Ibadan. His grandfather is Adegoke Adelabu.

Adelabu attended Ibadan Municipal Government Primary School, Agodi Ibadan from 1976 to 1982 and Lagelu Grammar School, Ibadan from 1982 to 1987.


Adelabu received a First Class Degree in Accounting from Obafemi Awolowo University, Ile-Ife. 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. Adelabu has also taken up professional courses in various business schools, including Harvard, Stanford, Wharton, Columbia, Kelloggs, Euromoney, and the University of London.
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Tunde Adelabu, the son of Chief Adebayo Adelabu, the Former Deputy Governor of Central Bank of Nigeria (CBN) and Oyo state governorship candidate of APC  recently bagged a degree in Mechanical Engineering from the prestigious University of Liverpool

Oloye Adebayo‎ Adelabu and his wife, Mrs Oluseyi Adelabu are in happy mood as their first son, Babatunde Adelabu, graduated from the University of Liverpool, United Kingdom last week.

Babatunde, who is a great-grandson of late Alhaji Adegoke Adelabu, aka Penkelemesi, graduated with a second class (upper division) in Bachelor of Engineering in Mechanical Engineering‎.

Babatunde’s father, ‘Bayo Adelabu, graduated from the Obafemi Awolowo University, Ile-Ife‎ with a first class degree in Accounting.


The proud parents were on hand to make the event memorable as they travelled to U.K to celebrate with their boy.
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Despite this challenges which were mainly associated with children with such backgrounds, he performed excellently in his studies as he was rated best in Lagelu Grammar School, Oremeji Agugu despite being one of the most social students according to his colleagues since back then. He was also said to be the best school dancer. He took this same reputation with him to the great citadel of learning in Ile-Ife, OAU where he came out with a first class in Accounting from the prestigious university, Great Ife. It was also gathered that he pays constant visit to Ibadan even while schooling in OAU, yet he came out in flying colours.

He took this exceptional effulgence into the practical terrain and his profession where he rose through the ranks in his art and gained promotion even before the time of maturation. From his stint at PriceWaterhouse, (now PricewaterhouseCoopers) an international firm of Chartered Accountants and Management Consultants to his spell at First Atlantic Bank where he rose to become the Group Head of National Public Sector Business in three years. He was also the Executive Director/ Chief Financial Officer (CFO) of First Bank of Nigeria Plc. (FBN) before his appointment as the Deputy Governor of the Central Bank of Nigeria (CBN).

He is a rare gem in exact replica of his grand father, late Alhaji Adegoke Adelabu Penkelemesi, Nigeria's first Federal Minister of Social Services and Natural Resources who had outstanding record during his time at Government College Ibadan, Yaba Higher College, Lagos; the then highest educational institution in Nigeria and his time as the first African Manager of UAC (1936).

This distinguished personae, who is also the favorite candidate for the governorship race under the platform of the ruling party, APC is  today, the 28th of September, 2018, celebrating his 48th year of divine grace and favor from Almighty Allah on this earth. Whilst also expecting the governorship ticket to follow suit in divine favor and blessings, he hope to use the position as governor of Oyo State as a genuine extension of his philanthropy which the people of Oyo State are a living testimony.


Professional career


Adelabu started his career with PriceWaterhouse (now PricewaterhouseCoopers), an international firm of Chartered Accountants and Management Consultants. During his seven years with the firm, he led and managed various audit and consultancy engagements for large banks and non-bank financial institutions within and outside Nigeria.

He was on secondment to the Central Bank of Nigeria for one year in 1999 when he led the finance team on the CBN re-engineering and corporate renewal project tagged "Project EAGLES". He left the firm in year 2000 as an Audit Manager and Senior Consultant to join First Atlantic Bank as the Financial Controller and Group Head of Risk Management and Controls. He was later promoted to Chief Inspector of the Bank in 2002 and Group Head of National Public Sector Business in 2003

Adelabu moved to Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business) with dual offices in Lagos and Accra. He was there till 2009 from where he became an Executive Director/Chief Financial Officer (CFO) of Nigeria's largest bank, First Bank of Nigeria Plc. (FBN) at the age of 39. L

Adebayo was appointed by former President Goodluck Ebele Jonathan in February 2014 as Deputy Governor, Operations of the Central Bank of Nigeria (CBN).

Adelabu serves 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 is also a serving 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).


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