Gbajabiamila tendered his resignation letter on Wednesday on the floor of the House before Abass and the members of the House.
After laying his letter of resignation before the House, the new Speaker, Tajudeen Abbas, read it out to the members
The former Speaker subsequently took a bow before the new Speaker and the members before walking out of the chamber amidst cheers and standing ovation from the lawmakers.
During his two-decade law-making career in the House, Gbajabiamila was Minority Leader, Majority Leader, and Speaker at various times.
He was reelected to represent Surulere 1 Federal Constituency in Lagos State before his new appointment and was sworn in as a member of the House at the inauguration of the 10th National Assembly on Tuesday.