A former Deputy Governor of the Central Bank of Nigeria responsible for Operations Adebayo Adelabu has been appointed as the new Minister for Power by President Bola Ahmed Tinubu.
His name was part of the ministerial list released by the Presidency earlier in the week.
He 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”.
Adelabu left the firm in 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.
He then 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 and later 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.
He was later appointed by former President Goodluck Ebele Jonathan in February 2014 as Deputy Governor, Operations of the CBN.
Adelabu serves as the Chairman, of the Board of Directors of the Nigeria InterBank Settlement Systems and has chaired the board of the Financial Institution Training Centre.
He is also a serving member of the Board of Federal Inland Revenue Services, Nigeria Security Printing and Minting Company, the Assets Management Corporation of Nigeria, and the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending.
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.
Source: https://energynewsafrica.com
