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 at First Bank Plc, where he previously served as Executive Director and Chief Financial Officer.
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 former GMD of the bank, Olabisi Onasanya and Chief Oba Otudeko who is a former chairman of the bank 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.n 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 Ring 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.
Source-CapitalNg.com