In June 2003, president
Obasanjo nominated Adebayo for a ministerial post. In September 2005, he was a keynote speaker at the 4th International Nigerian Telecommunications Summit in
Abuja. Adebayo pushed for privatization of
NITEL, the state telecommunications company. In September 2005, he said the sale of a controlling stake in NITEL would be completed by the end of the year. Bidders included
Vodacom and
MTN Group of South Africa,
Huawei Technologies,
Orascom Telecom of Egypt and
Celtel International. In April 2006, Mtel, the Mobile subsidiary of NITEL, announced plans to add 2.5 million lines of capacity. The Board of Mtel, chaired by Cornelius Adebayo, had approved the program in September 2005. The vendors were
Ericsson,
Huawei,
ZTE,
Motorola,
Nokia and
Siemens. A local company founded in 2005,
Transnational Corporation of Nigeria, acquired NITEL on 3 July 2006. In September 2006, Cornelius Adebayo became Minister of Works, replacing Engineer
Obafemi Anibaba. ==Subsequent career==