Home News EXCLUSIVE: Buhari Accepts Adelabu’s Voluntary Disengagement, Commends Him For His CBN Achievement...

EXCLUSIVE: Buhari Accepts Adelabu’s Voluntary Disengagement, Commends Him For His CBN Achievement (FULL LETTER)


President Muhammadu Buhari has approved the voluntary disengagement ‎of the deputy governor (operations) of the Central Bank of Nigeria, CBN, Oloye Adebayo Adelabu.


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He would be officially disengaged on July 15th, 2018 after he would have completed his six week terminal leave which began today.


Adelabu, a grandson of late political icon- Alhaji Adegoke Adelabu Penkelemesi, assumed office on April 9th, 2014.


Insight Oyo recently revealed how the 47-year old banker submitted his letter of disengagement on April 15th, 2018 in order for him to pursue his intention to govern Oyo State in the 2019 elections. Ordinarily, his 5-year first term would have ended on April 8th, 2019.

In a personally signed letter dated 24th May, 2018, Buhari wished the former Executive Director of First Bank, “the very best best in your future ambitions and continued commitment to public service in our country and specifically, as you seek to play more active role in politics, in your home state.”

The accounting graduate of the prestigious Obafemi Awolowo University, Ile-Ife, in his notice of disengagement from service written to Buhari through CBN Governor, a copy of which was made available to Insight Oyo, ‎thanked the Federal Government of Nigeria for his appointment, adding that “I have been on this role for a little over four years out of the five years making my first term appointment.”


For the 4 years, Adelabu who is the Agbaakin Parakoyi of Ibadanland explained, “I have had the opportunity to oversee and provide leadership and direction to three directorates (financial system stability, corporate services, and operations) of the four directorates in the Central Bank of Nigeria.”

These, he noted, “cut across seventeen. (17) out of the twenty-seven (27) operating‎ departments at the bank. In addition to these responsibilities and by virtue of my role at each point in time, I have had the opportunity to serve as chairman or director on the board of varios other government agencies and parastatals. These include assets Management Corporation of Nigeria Ltd, AMCON, The Nigeria Security Printing and Minting Company Ltd, NSPMC, Federal Inland Revenue Services, FIRS, Nigeria Interbank Settlement Systems Ltd, NIBSS), Financial Institutions Training Centre, FITC. This wide exposure within and outside the Bank has greatly enriched and complemented my private sector experience of about 23 years and consequently heightened my interest in serving the public further.”


Recalling how he and other top CBN officials achieved success in turbulent times and how Buhari called on people to make sacrifices in order to rescue the country, Adelabu, who is the Agbaakin ‎Parakoyi of Ibadanland, stated that “I have decided to heed Mr President’s patriotic call by starting the onerous task of nation-building from my immediate constituency, Oyo State, where I have resolved to play an active role in politics. I would like to complement the national efforts of Mr President at the sub-national level by contesting in the 2019 gubernatorial elections in my state. My aspiration is to become the next Executive Governor of the state.”


Explaining that the notice is for a period of three months “as required by the Central Bank of Nigeria Act 2007,“ the young Adelabu, who has many groups working for his aspiration, is to begin his six-week terminal leave from today, 31st May, 2018.


A top source who is close to the governorship aspirant on the platform of the All Progressives Congress, APC, said “President Muhammadu Buhari wouldn’t have accepted his resignation letter if truly he has an anointed candidate for Oyo 2019. Buhari decided to write him personally, wishing him well in his political ambition.”


With this latest development, Adelabu will have more time to consult and tour major local government areas across the state to sell himself to the people and APC delegates.


The source added that “Adelabu’s voluntary disengagement will give him the needed time to oil all what we have done. Before his exit from CBN, we have done many works. We deliberately left him out of it because he needed time to concentrate on CBN. Now that he is back, activities will take good shape. People will be able to talk to him personally. He will able to talk to the masses. I don’t need to tell you much, we have our plans and in a matter of weeks, you will be seeing them,” she added.

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