AfDB: FG rejects independent probe of Akinwumi Adesina


The Nigerian government has frowned at the calls for an independent investigation into the allegations of favouritism against the President of the African Development Bank (AfDB). The federal government said the lunching of a different – independent investigation into the 16 count allegations amounts to undermining the rules and procedures governing the Bank.

The United States, Sweden, Denmark, Finland and some other external partners of the African Development Bank (AfDB) that have expressed reservation about the integrity of an earlier committee that investigated Adesina for alleged violation of ethics of the Bank.

“The call for an independent investigation of the President is outside of the laid down rules, procedures and governing system of the Bank and its Articles as it relates to the Code of Conduct on Ethics for the President. As Board of Governors we must uphold the rule of law and respect the governance systems of the Bank.

“If there any governance issues that need improvement, these can be considered and amendments proposed for adoption in line with laid down procedures,” Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed said in a letter to the Chairman of the Board of Governors of the African Development Bank Group, Kaba Niale.

The federal government commend the action the Chair of the board has taken and d that the bank’s laid down process be followed to protect and preserve the bank.

The board of the development bank had on Wednesday agreed to commence an independent investigation into the 16 allegations of fraud and corruption case against him.

The federal government said the earlier action of the Ethics Committee report followed laid down rules. The Committee also called on the whistleblowers to submit any additional evidence, facts and documents to buttress their allegations but they did not.

The Ethics Committee had done and sent its investigation, following the rules, laws, procedures and guidelines as laid down by the Resolution of the Board of Governors. “That Resolution calls for the Ethics Committee to submit its report, and supporting documents, to the Chair the Board of Governors, Zainab added.

Hajiya Zaina said the Chair of the Board of Governors followed the laid down rules, procedures, guidelines, and the governing laws of the Bank, and ruled appropriately that she concurred with the report and conclusion of the Ethics Committee that dismissed all allegations against the President.

The re-election of Dr. Adesina as President of the African Development Bank originally planned to be held on May 28, 2020 has now been postponed to 25-27 August 2020. Dr. Adesina is the sole candidate for the election.

The Nigeria’s finance Minister observed that Adesina “has delivered impactful programs and impressive results” at the Bank.

In the letter that was obtained from the Ministry of Finance yesterday, Zainab bragged that “One of his major accomplishments is securing a General Capital Increase of $ 115 Billion, the largest ever in the history of the Bank.”

She recalled that to fight the Coronavirus pandemic Adesina led the Bank to develop a $10 billion

Crisis Response Facility for Africa. Apart from that, Dr. Adesina also led the Bank to launch a $ 3 Billion “Fight COVID19” social bond, the largest US dollar denominated social bond ever in world history.

According to Mrs Zainab, the African Union has endorsed his candidacy for re-election, following his endorsement by the ECOWAS Heads of State and Governments.



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