News
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.
A recent viral moment has unexpectedly stirred the political waters for Power Minister Adebayo Adelabu’s 2027 gubernatorial bid in Oyo State. Here’s how it unfolded—and the fallout that followed:
An audio featuring Ibadan socialite, Chief Akinade Fijabi and an unidentified young man surfaced online.
In the audio, Fijabi, an Ibadan high Chief and singer, Wasiu Ayinde’s closest ally bared his thoughts on political bearings in Oyo State and centred it round the Minister for Power, Adebayo Adelabu.
The audio quickly gained traction, sparking laughter and debate across social media platforms in Oyo and beyond.
The audio briefly overshadowed Adelabu’s image and critics seized the moment to question his ability, business sense and highlight potential vulnerabilities in managing grassroots affairs.
Even before the audio, Adelabu’s return to APC and flirtation with a 2027 run had unsettled internal party dynamics. The audio gave fuel to factions already uneasy about his rapid elevation and perceived attempt at imposition.
APC hardliners and youth groups, who’ve openly criticized the party’s handling of aspirants like Adelabu, echoed that the viral moment underscores deeper frustration about favoritism .
Adelabu’s allies are downplaying the audio, arguing that public interactions reflect openness and a grassroots presence and qualities essential for statewide appeal. They’ve also pointed to his achievements, including boosting national grid capacity, as evidence of credible leadership .
Fijabi in the audio also shed some lights based on what he termed ‘reliable information’ on Governor Makinde’s Presidential ambition, claiming it was a plot to collapse the PDP in Oyo State for President Tinubu with an agreement that the Governor would be granted the request to install a successor.
The clip audio shifted part of the conversation from Adelabu’s technocratic record to his public persona. Analysts say managing optics now matters more than ever for his brand.
Late Governor Ajimobi’s first child, Bisola is dead!
News filtered in early Thursday, March 27, 2025 that Bisola,42 died after a brief illness in the United Kingdom.
The late woman before her death was the special adviser to the Minister of Budget and Planning, Atiku Bagudu.
Married to Kolapo Kola-Daisi, their marriage is blessed with three children.
Tunde Ednut Earns $5,000 Per Day! -Report
Excitement, Joy as Lagos Guber Hopeful, Jandor Marries in Qatar
What Ibadan Socialite, Fijabi’s Leak Audio Has Done To Minister Adelabu’s Guber Ambition
Obat’s Son, Femi Akinruntan To Marry Ooni’s Ex-Wife, Queen Naomi
Trumpeters Church Overseer, Oludare Dies
FIRS Topshot, Aminat Oluwa Finds Love Again (details of her romance with First Bank MD, Adeduntan)
-
News2 years ago
Obat’s Son, Femi Akinruntan To Marry Ooni’s Ex-Wife, Queen Naomi
-
News2 years ago
Trumpeters Church Overseer, Oludare Dies
-
News2 years ago
FIRS Topshot, Aminat Oluwa Finds Love Again (details of her romance with First Bank MD, Adeduntan)
-
News2 years ago‘I’m just a common domestic staff to Tinubu’ Toyin Subair Gives Insight Into His Work As President’s SSA
-
Politics2 years ago‘thank you Mr President’ Akpabio, Family Visit Tinubu
-
Fashion2 years ago‘why I married the Ooni of Ife’ -Ronke Ademiluyi
-
News7 months ago
Ajimobi’s Eldest Child, Bisola Dies In The UK
-
Business2 years agoIfe Grand Resort; An Affordable Luxury In The Heart Of The Southwest