“Dispel Doubts & Speculations” — Whistleblowers Demand Power Minister Adelabu Publish Asset Declarations From 2012 Public Appointments

Some whistleblowers have called on Nigeria’s Minister of Power, Adebayo Adelabu, to make public his asset declaration forms covering more than a decade of high-profile public appointments.

The whistleblowers, in a statement on Thursday, urged Adelabu to “prove his commitment to transparency” by releasing his Code of Conduct Bureau (CCB) asset declarations dating back to 2012, when he began serving on the boards of key national institutions.

They insisted that, for the sake of public trust, Adelabu should publish the details of his declared assets at every point he entered and exited public office.

The group said transparency and accountability demanded that Adelabu disclose his financial status before and after his stints in public service, including his tenure as Deputy Governor of the Central Bank of Nigeria (CBN), Chairman of the Nigeria Inter-Bank Settlement System (NIBSS), and his current position as Minister of Power.

The whistleblowers argued that publishing the details would “dispel doubts and speculations” about the minister’s wealth accumulation and demonstrate his commitment to President Bola Tinubu’s anti-corruption drive.

“Chief Adelabu has held several strategic positions in the nation’s financial and economic sector. Nigerians deserve to know the state of his assets at each entry and exit point of these offices,” the statement read in part.

They urged the Code of Conduct Bureau (CCB) to facilitate the disclosure in line with constitutional provisions, stressing that voluntary publication by public officials would strengthen public trust.

The group’s demand comes amid a viral video alleging that the Minister was flaunting an extravagant lifestyle funded through corrupt means, including the construction of a new mansion allegedly completed during his tenure.

However, a statement by Adelabu’s media aide, Femi Awogboro, described the report as false, mischievous, and misleading—calculated to tarnish the reputation of the Minister.

He claimed that the building project commenced in November 2021 and was completed in August 2023, a month before Adelabu’s appointment as Minister of Power in September 2023.

He further noted that the Minister has resided in the same location since 2010, when he built and publicly unveiled the original structure during his career as a senior banking and finance executive. The current property, he said, is simply a redevelopment of the old house.

Before his current ministerial role, Adelabu held several top-level positions in Nigeria’s financial and public sectors. He served as Chairman, Board of Directors of the Nigeria Inter-Bank Settlement Systems (NIBSS), and chaired the Board of the Financial Institutions Training Centre (FITC).

He was also a member of the boards of the Federal Inland Revenue Service (FIRS), the Nigeria Security Printing and Minting Company (NSPMC), the Asset Management Corporation of Nigeria (AMCON), and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).

In February 2014, he was appointed Deputy Governor, Operations, at the Central Bank of Nigeria (CBN), a role he held until 2019.

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