New CBN Deputy Governor

Fri, Apr 11, 2014
By publisher


Adeba Adekola Adelabu, former executive director and chief financial officer at First Bank Plc, assumes duty as deputy governor of Central Bank of Nigeria

TWO weeks after his confirmation by the Senate, Adebayo Adekola Adelabu has formally assumed duty as deputy governor of the Central Bank of Nigeria, CBN. Accompanied by his aides on Wednesday April 9, Adelabu was welcomed by Suleiman Barau, deputy governor, Corporate Services.

Introducing the trio of Yunusa Mohammed Sanusi, Ahmad Abdullahi and Ibitayo Olubenga Amu, directors in charge of Corporate Secretariat, Governors’ and Security Services Department, respectively, Barau said that Adelabu had been briefed on his schedule in the Financial System Stability, FSS, Directorate. He wished Adelabu well in his role, expressing confidence that his new colleague would settle down to work immediately.

Responding, Adelabu thanked Barau and the directors present for the warm reception accorded him. He said he was, indeed, eager to start work and contribute his quota to the success of the bank. Adelabu, who has more than 22 years of cognate experience, said he was bringing on board initiatives that would move the bank forward. While commending the management and staff of the CBN for the successes recorded by the bank in the execution of its mandate, he pledged to do his utmost in collaboration with his colleagues to ensure that it takes its pride of place among Central Banks of developed countries around the globe.

Coming from the private sector and having been the finance team leader of CBN’s Corporate Renewal Project tagged: “Project Eagles” in 1999, Adelabu said he was not entirely new to the environment and would pursue a philosophy of productivity to achieve the desired result for the Bank. “I do believe so much in activities. It’s more about productivity. I do more of the work than the talk. I don’t believe that we should talk too much. If you have a work to do, do it well and everyone will see that it is a success,” he declared.

Speaking on his youthful mien, the new deputy governor said he had come to the bank at the right time as many key decision makers around the world were in their 40s and 50s, which he emphasised were the most productive years in the lives of executives. He expressed confidence that the vibrancy and energy associated with that age bracket, coupled with the experience he had garnered in his professional life would manifest in the discharge of his duties.

According to him, “It’s not so much about age these days, but what you bring to the table. It has to do with your experience. When you have youth in positions of responsibility, you have the strength and vigour to face the rigours of the job.”

Prior to his confirmation as CBN deputy governor, Adelabu was the executive director and chief financial officer, CFO, at the First Bank of Nigeria Plc. He is married and has four children.

— Apr. 21, 2014 @ 01:00 GMT