Arunma Oteh defends Adesina over allegations of fraud at AfDB

Arunma Oteh defends Adesina over allegations of fraud at AfDB

- The current president of the African Development Bank, Akin Adesina, is getting support from his former colleagues

- Arunma Oteh, a reputable financial management expert and former World Bank VP has backed the AfDB boss

- Adesina is facing allegations of impropriety by US treasury secretary, Steven Mnuchin, who has been accosted for abuse of office in the past

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Former director-general of the Securities and Exchange Commission, Arunma Oteh, has declared her support for Akinwunmi Adesina.

Adesina, a former Nigerian minister of agriculture, is the current president of the African Development Bank.

He is currently battling allegations of impropriety by the United States of America government, even after an ethics committee of the AfDB had cleared Adesina of all allegations of impropriety and fraud levelled against him.

The U.S is insisting on a more thorough probe and demanded a fresh investigation into the case.

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US treasury secretary, Steven Mnuchin, rejected plans by the AfDB's board to end the investigation and called for an independent probe.

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.

Oteh, a former treasurer and vice president at the World Bank, insists Adesina is a man of integrity and a great leader.

“He remains the best man to lead Africa’s great institution for the next 5 years,” she wrote on Twitter.

Her comment got the attention of the AfDB boss, who replied and thanked her for her support and encouragement.

Both Oteh and Adesina worked for the Goodluck Jonathan administration.

After the tenure of the Bayelsa-born politician, many of his appointees got international appointments including the duo of Adesina and Oteh.

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Interestingly, Mnuchin himself has been accosted for abuse of office in the past.

He repeatedly broke California’s foreclosure laws according to a previously undisclosed 2013 memo from top prosecutors in the state attorney general’s office.

The memo obtained by alleges that OneWest, a company Mnuchin was the CEO at the time, rushed delinquent homeowners out of their homes by violating notice and waiting period statutes, illegally backdated key documents, and effectively gamed foreclosure auctions.

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