A fresh political controversy is brewing in Oyo State following reports circulating on social media that former Central Bank of Nigeria (CBN) Deputy Governor, Chief Adebayo Adelabu, is being questioned by the Economic and Financial Crimes Commission (EFCC) over an alleged connection with the fraud case involving former Minister of Petroleum Resources, Diezani Alison-Madueke.
The allegation, which is currently generating reactions within the state’s political circles, also claims that Adelabu is being interrogated over an alleged bad loan said to have been awarded at FirstBank during the period connected with the wider controversy surrounding the former minister.
However, sources close to Adelabu’s camp have dismissed the report, describing it as false, politically motivated and lacking substance.
The development comes amid growing political attention around Adelabu, who at the time is being mentioned in discussions over the 2019 Oyo State governorship race, although he has not made any formal declaration of his intention to contest.
With the rumour spreading across various social media platforms, a member of Adelabu’s political camp, who spoke on condition of anonymity, says there is no truth in the allegation.
According to the source, the rumour is being circulated by individuals who are uncomfortable with Adelabu’s growing political profile and influence in Oyo State.
“This is expected and perhaps the only way they feel they can discredit Bayo’s rising profile and increasing popularity. They are threatened by his family background, academic achievements, professional exposure and the support he enjoys from different sections of the state,” the source said.
The source also pointed to Adelabu’s professional career, particularly his years at FirstBank and his subsequent service at the CBN, arguing that his record remains publicly known.
He further cited Adelabu’s involvement in public and community-oriented initiatives in Oyo State, including his role as Chairman of the Oyo State Security Trust Fund and Chairman of the Governing Board of Lagelu Grammar School, the alma mater of then Governor Abiola Ajimobi.
According to the source, attempts to link Adelabu to the fraud allegations are aimed at creating a distraction as political activities intensify.
“I tell you this is just a kind of distraction, and they will soon be tired of spreading all these lies and rumours when people find out they have nothing substantial to talk about,” he added.
The allegation remains a subject of political discussion, while Adelabu’s camp continues to maintain that the report linking him to the fraud investigation is unfounded.
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