Akinwunmi Adesina: US demands investigation into AfDB's decision on Nigeria's ex-minister

Akinwunmi Adesina: US demands investigation into AfDB's decision on Nigeria's ex-minister

- The US government has called for fresh probe into allegation against AfDB's president, Akinwunmi Adesina

- Adesina was exonerated from the allegation by the ethics board of the AfDB

- But the US government said it was not satisfied with the decision of the AfDB board on Adesina

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Following the allegations of impropriety against the president of the African Development Bank (AfDB), Akinwumi Adesina, the US government has demanded a fresh investigation into the case.

Legit.ng reports that the ethics committee of the AfDB had cleared Adesina of all allegations of impropriety and fraud leveled against Adesina.

In his report on Monday, May 25, Aljazeera says that the US treasury secretary, Steven Mnuchin, rejected plans by the AfDB's board to end an investigation into its president and called for an independent probe into allegations against him.

Mnuchin in a letter dated May 22, and addressed to Niale Kaba, chairwoman of the bank's board of governors, said the treasury disagreed with findings by the bank's ethics committee that "totally exonerated" Adesina.

According to Aljazeera, Kaba confirmed receipt of the document and declined further comment.

Akinwunmi Adesina: US demands investigation into African Development Bank's decision
The president of the African Development Bank (AfDB), Akinwumi Adesina. Credit: Premium Times
Source: UGC

The report also says that the intervention by the treasury, the AfDB's biggest non-African shareholder, came two weeks after the ethics committee found no evidence to support allegations of favoritism by Adesina.

The 60-year-old bank chief, who has repeatedly refuted the allegations, is the only candidate up for election as president at an annual general meeting scheduled for August.

"We have deep reservations about the integrity of the committee's process. Instead, we urge you to initiate an in-depth investigation of the allegations using the services of an independent outside investigator of high professional standing," Mnuchin said.

Adesina was accused by a group of unidentified whistleblowers of handing contracts to acquaintances and appointing relatives to strategic positions at the Abidjan-based lender.

The US has a 6.5% stake in the lender, the largest shareholding after Adesina's home country of Nigeria as of November 2019, according to the AfDB's website.

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The AfDB is Africa's biggest multilateral lender and has an AAA rating from Fitch Ratings, Moody's Investors Service and S&P Global Ratings. Its shareholders are Africa's 54 nations and 27 countries in the Americas, Europe, Middle East and Asia.

Meanwhile, Legit.ng had previously reported that President Muhammadu Buhari commended the Adesina over the clean bill of health given to him by the AfDB board of directors of the financial institution.

The president through his special adviser on media and publicity, Femi Adesina, made the commendation on Thursday, May 7.

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Source: Legit.ng

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