Tag Archives: BAYO ADELABU

‘thanks for coming’ Guber Hopeful, Bayo Adelabu Woos Gov Ajimobi’s Brother, Wasiu With N1M Cash Gift

It’s sure an interesting time in Oyo State at the moment. A lot of politicking, consultations, inducement is abound ahead the 2019 general elections.

One of the most popular contenders for the governorship position, a seasoned banker and Deputy Governor of the Central Bank of Nigeria, Bayo Adelabu has taken his game to the home front of the Governor of Oyo State by trying to win his sibling, Wasiu to his side.

Adelabu did this by presenting the Governor’s brother a million Naira cash gift at a meeting in Abuja.

Stories abound that the banker who is rumored to have resigned his position at the apex bank to pursue his political ambition had invited Wasiu Ajimobi and some other stakeholders in the politics of the State to his home in Abuja.

As expected they all had a quality moment, brainstorming with Adelabu initiating moves and promises while seeking their support  to be his ears and eyes and also influence Governor Ajimobi to support his bid to get the APC governorship ticket.

The words of encouragement by the politicians and the Governor’s blood brother must have sweetened Adelabu’s mind as he gave each of his guests a million Naira with a promise of more to come if they can do his bidding and push his interest far ahead of others.

A source revealed to papermacheonline that Wasiu who understands and predict the mind and ways of his Governor-brother puts a call to him while at the airport, enroute Ibadan and narrated all that happened during the meeting and the N1M gift.

The move taken by the banker has fueled what many termed as him being over-ambitious. It was said that the grandson of the late Ibadan politician, Adegoke Adelabu doubted Governor Ajimobi’s words to support his ambition, there are strong indications that the Oyo State Governor has already made up his mind as to whom to support in 2019 and that Bayo Adelabu’s name is not in the plan.

The CBN topshot was said to have earlier sought the backing of APC chieftain, Asiwaju Bola Tinubu, clandestinely before taking a final resort by making the Governor’s kid brother one of his most reliable power brokers.


Ajimobi Grooms Successor, Finds Hope In Finance Commissioner

After many hassles, denial and strategizing, the Oyo State Governor, Senator Abiola Ajimobi must have finally found a candidate whom he believe can take the baton of leadership from him.

The matter was laid to rest by a source close to the Governor who claimed ‘the man has made his decision, he wants his Commissioner for Finance’.

The State’s Commissioner for Finance is presently Bimbo Adekambi.

He was one of the Governor;s aides that survived a purge when the Govenor sacked all his aides some years ago.

Those in the know claimed that the Adekambi was picked ahead of the former Commissioner for Finance, Zacheus Adelabu and CBN Deputy Governor, Bayo Adelabu.

Adekambi is said to have been tutored on leadership and many of his friends confirmed that he had stop attending all functions and he doesn’t spend like before again, spreading the belief that he had started learning the ropes from the Governor.

A source in the opposition party hinted papermacheonline that the Governor doesn’t want to make any mistake while choosing Adekambi, he claimed that ‘there is every reason for him to choose his boy, he knows the atrocities he committed, so there is need for him to field someone that will cover his tracks, we will fight this to the end’.

Aftermath Of Car Accident; CBN DG, Bayo Adelabu Suspends Guber Ambition

‘Who is afraid of Bayo Adelabu?’ ‘Who wants him dead?’ These are some of the questions being asked by followers and admirers of the Deputy-Governor of the Central Bank of Nigeria, Bayo Adelabu who survived a car crash some weeks ago.

There were strong indications that the banker, a grandchild to late Ibadan politician, Chief Adegoke Adelabu has mellowed down his interest to succeed the Oyo State Governor, Senator Abiola Ajimobi in 2019.

Information pieced by papermacheonline revealed the politician had instructed his handlers to tune down all the campaigns and publicity towards his ambition.

A source revealed that the new breed politician which has been touted as the anointed candidate of Governor Ajimobi must have given his accident a spiritual interpretation.

The source who gave a graphic details into the incident revealed that a truck came from nowhere and smashed into 3-car convoy, damaging his personal car. He was severely wounded in the process.

It was believed that after a review of the whole scene, the accident was regarded as a deliberate act to kill him by some unknown persons.

A close friend of the politician when contacted by papermacheonline denied that the accident freaked him out of the guber contest. In a phone conversation with papermacheonline he hinted ‘he wasn’t really out of the contest, he was only listening to Asiwaju’s (Bola Tinubu) advice to focus on becoming the CBN governor first, then come back and become the Oyo State governor which we feel is reasonable’.

All The Investments That Put Bayo Adelabu In Trouble (details of his encounter with the EFCC+political ambition in jeopardy)

One of the Deputy-Governors of the Central Bank of Nigeria, Chief Bayo Adelabu is at the moment fighting the biggest battle of his life.

Adelabu was invited and interrogated some days ago by the EFCC in Lagos for abuse of office and role in the alleged siphoning of shareholder funds via phoney loans.

Sources with knowledge of the development told us that investigators believe that Adelabu, who is presently serving as one of the Deputy Governors at the Central Bank of Nigeria (CBN), allegedly connived with Oba Otudeko to arbitrarily approve loans running into several billions of naira which have since gone bad.

The recklessness of the bank bosses prompted the CBN to introduce stiffer corporate governance rules to protect shareholder funds from being abused by insiders.

In Adelabu’s case, many other accidental deep pockets have probably learnt few had lessons on the dos and don’ts of executive banking, morality and citizenship. This are certainly the worst of times for him. Adelabu, who is believed to have amassed a huge war chest, is preparing a bid for the governorship of Oyo State in 2019.

In his bid to win the Governorship election in Oyo State come 2019, the banker has invested hugely in his hometown, Ibadan to drum the support of the people.

With reckless abandon unusual with people in public office Bayo Adelabu has solely financed and owned an ultramodern Shopping Centre on Rring road, Ibadan, a 34-flats serviced bedroom apartments at Oni and Sons street, Ibadan, the highbrow Bayseone Hotel in Jericho, Ibadan and his recent investment being the most expensive hotel in the city, Best Western Hotel tucked inside the Iyaganku GRA, iBADAN.

All these investments were said to have been traced and would likely be answered for as the anti=fraud commission has beamed its searchlight on the activities of the billionaire, a grandchild of late Ibadan popular politician, Chief Adegoke Adelabu.

The recent occurrence is said to have had a dent on his political career as his handlers in Oyo State are working hard to distract the people from the incident.

He was interrogated for hours on Monday at the Ikoyi, Lagos office of the EFCC and subsequently released on administrative bail. EFCC sources say he is expected to return to the agency for further questioning and may be charged to court for fraud and insider abuse when investigations are concluded.

Additional Information from The Capitalng.bayse-one-place-oyo-53384IMG_20150405_075110

Ahead 2019 Guber: Ajimobi Jilts ‘anointed candidate’ Bayo Adelabu (shops for new successor)

The whirlwind romance between the Oyo State Governor, Abiola Ajimobi and a Deputy Governor of the Central Bank of Nigeria, Bayo Adelabu seems to have hit the rocks judging from recent happenstances in the political circle of the state.

The CBN topshot was regarded by all as the ‘incoming Governor’ based on his background (he is a grandchild of Adegoke Adelabu ‘penkelemes’), his status, wealth and connection between the political masters in and outside of his state which has now become the factor working against him.

Pundits in Oyo State had earlier come up with calculations of Adelabu’s root as an Ibadan man and his closeness with the Governor, Abiola Ajimobi which had unsettled the other camps who formed an alliance with a mission to break the influence and whatever support Ajimobi must have promised the banker.

Those in the know revealed to papermacheonline that the understanding between the Governor and the banker who were both proteges of the late Aare Musulumi, Arisekola Alao has damaged beyond repairs.

They put their differences on what they termed Adelabu’s over-ambition.

Papermache gathered that the banker while on a move to cement his political structure and protect against unforeseen circumstances had secretly visited APC stalwart, Asiwaju Bola Tinubu to seek his support in getting the party’s ticket.

The move was said to have been vital as many of his supporters warned him that Governor Ajimobi may change his mind and give the ticket to another candidate at the last minute, a decision that could endanger Adelabu’s ambition. He agreed and sought Tinubu’s support, a move that didn’t please Governor Ajimobi who alleged the banker of ‘over-ambition’ and queried his loyalty.

Adelabu’s other undoing that finally severed his affair with Ajimobi was identifying with a group called the ‘Lamites’ who consists of the supporters of the late Governor of Oyo State, Alhaji Lam Adesina.

The guber hopeful was allegedly plotting to take over the ‘Lamites’ structure to actualise his ambition.

A source hinted that the Governor has decided to shop for a successor among his trusted aides and puncture the balloon of Adelabu’s hopes of governing the state come 2019.

Another challenge for Adelabu is his popularity, many believed that the banker is only popular among the elites in Ibadan and not in the whole of Oyo State.

His businesses are hugely centralized in Ibadan, a point many are using to gauge his readiness in contesting for the number one citizen post in the state.

The CBN Deputy Governor recently opened a 3-star hotel under the management of Best Western and also a choice residential apartments in a highbrow area of Ibadan.

CBN Topshot Bayo Adelabu Constructs New Hotel In Ibadan

CBN topshot, Bayo Adelabu is becoming very influential by the day courtesy of his pedigree, position in the banking industry and his wealth which has become the tale on people’s lips.

The grandson of late Ibadan politician, Adegoke Adelabu just completed another high class hotel in his hometown, Ibadan.

Bayo, who is claimed to be nursing an ambition to govern Oyo State in 2019 is a big player in the city’s hospitality business, his hotel, Bayse One is regarded as one of the best in the State and he is not resting on that as he just finished the construction of another hotel.

Sources revealed that the banker is investing in the State in preparation for what to come, which is his political ambition.

But those in the know countered that Bayo won’t be contesting in 2019.

The protege of the late Aare Musulumi, Alhaji Arisekola Alao is claimed to be targeting a renewal of his office in the CBN, by then Bayo would have gathered more experience and wealth and would be fit to run for the gubernatorial race.

Another source stated that the young banker is likely to succeed the present CBN Governor, Godwin Emefiele as the Governor of Central Bank.

Bayo is said to have impressed President Muhammadu Buhari at a conference recently where the President was said to have demanded for his cv which spurred the rumor that he could become the next Governor of the apex bank.

The new hotel located inside the Iyaganku GRA, Ibadan is a choice property which sources hinted would be operated by the Western Hotels.

Arisekola’s Family Battles CBN Topshot, Bayo Adelabu

The dream of CBN deputy-governor, Bayo Adelabu to dump his suit and join politics with an ambition to become the Governor of his state in 2019 is receiving its first threat judging from an information of a face-off between the banker and the children of his godfather, late Aare Arisekola Alao.


A source revealed to papermacheonline that some members of Arisekola’s family who were privy to how the late businessman molded Bayo’s career to become an Executive Director with the First Bank and later a Deputy-Governor with the CBN  reached him for an undisclosed support which he failed to fulfil.


An angry member of the Arisekola family was said to have sent a text to Mr Adelabu to remind him of all the benefits and supports he enjoyed under the late ‘Aare Musulumi’ who was his godfather and he was said to have promptly replied the text message with ‘I got to the height of my career thru the help of no one else than God, pls get lost!’, a message the family considered  an act of ingratitude considering what they alleged the banker benefitted from the late Islamic scholar.


The source further revealed that some influential people in the state have been trying to wade into the matter in what they knew if not managed well could hinder the progress and political plans of the young banker judging from the late businessman’s influence in the political circuit in the state.


Bayo Adelabu is at the moment building his political structure in Oyo state with observers placing a bet on him as the likely successor to the incumbent Governor of the State, Abiola Ajimobi.


The banker aside from being popular has a fine pedigree (he is the grandson of late politician, Adegoke Adelabu ‘penkelemesi’) and has a large purse to finance his ambition.


The young man had recently invested in the city’s hospitality and nightlife business with his ownership of Bayse One hotel and shopping mall located in choice areas around Ibadan while the news is also rife on the proposed construction of another ultramodern events centre in the same city.