Adebayo Adelabu Biography: Early Life, Career, Family & Net Worth
Adebayo Adelabu OFR (born September 9, 1970) is a former deputy governor, operations of the Central Bank of Nigeria, who also served as Nigeria’s Federal Minister of Power
He resigned as the Nigeria Federal Minister of Power on April 22, 2026. In 2019, he ran for governor of Oyo State on the All Progressive Congress ticket.
Adebayo Adelabu Biography
Adebayo Adelabu was born to Aderibigbe Adelabu of Oke-Oluokun compound, Kudeti Area, Ibadan. His grandfather is Adegoke Adelabu. Adelabu attended Ibadan Municipal Government Primary School in Agodi, Ibadan, from 1976 to 1982, followed by Lagelu Grammar School in Ibadan from 1982 to 1987.
Adelabu earned a first-class degree in accounting from Obafemi Awolowo University in Ile-Ife. He is a 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 Nigerian and UK Institutes of Directors.
Adelabu has also completed professional courses at Harvard, Stanford, Wharton, Columbia, Kellogg, Euromoney, and the University of London.
Career
Adelabu began his career at PriceWaterhouse (now PricewaterhouseCoopers), an international business of chartered accountants and management consultants.
During his seven years at the firm, he led and oversaw a variety of audit and consultation engagements for significant banks and non-bank financial entities in and outside of Nigeria.
In 1999, he spent a year on secondment at the Central Bank of Nigeria, where he managed the finance team on the CBN re-engineering and corporate renewal project known as “Project EAGLES”.
In 2000, he left the firm as an audit manager and senior consultant to join First Atlantic Bank as Financial Controller and Group Head of Risk Management and Control. In 2002, he was promoted to Chief Inspector of the Bank and Group Head of National Public Sector Business in 2003.
Adelabu joined Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business), with dual offices in Lagos and Accra. He remained there until 2009, when he became Executive Director/Chief Financial Officer (CFO) of Nigeria’s largest bank, First Bank of Nigeria Plc. (FBN), at the age of 39.
In February 2014, former President Goodluck Ebele Jonathan appointed Adebayo as Deputy Governor, Operations of the Central Bank of Nigeria (CBN).
Adelabu is the Chairman of the Nigeria InterBank Settlement Systems (NIBBS) Board of Directors and previously chaired the Financial Institution Training Centre (FITC).
He also serves on the boards of 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 is also a businessman, with investments in the hospitality, entertainment, agriculture, and real estate sectors. He is the Chairman of the Bayse One Group of Hotels, Best Western Plus Hotels in Ibadan, and Bayse One Farms.
Adebayo Adelabu Wife
Adebayo Adelabu is married to Chief Mrs. Oluseyi Adelabu, who just marked her 50th birthday. They’ve been married for nearly 29 years and have four kids together.
Mrs. Adelabu has expressed gratitude to her beloved husband and related her experiences with the struggles they have endured in their marriage, highlighting the value of prayer and devotion in overcoming adversity.
Adebayo Adelabu Net Worth
Adebayo Adelabu’s net worth is believed to be $5 million to $10 million USD. He was previously the deputy governor of Nigeria’s Central Bank and is now the country’s Minister of Power.
Social Media
X: @BayoAdelabu