Trouble Looms For Nigerian Adesina’s Led African Development Bank
The United States Department of Treasury has requested an independent investigation into allegations leveled against the President of the African Development Bank (AfDB), Akinwumi Adesina.
Some staff of the AfDB had accused Adesina of 20 breaches of the bank’s code of conduct, including “unethical conduct, private gain, an impediment to efficiency, preferential treatment, and involvement in political activities”. The bank’s ethics committee carried out an independent investigation headed by Takuji Yano and cleared Adesina, insisting he was not guilty on all counts.
However, in a letter by US Treasury Secretary, Stephen Mnuchin dated 22nd May and addressed to Niale Kaba, chair of AfDB’s board of governors, rejected the findings by the ethics committee of the bank that “totally exonerated” Adesina and has called for a deeper investigation. The US Treasury owns the largest non-African stake in the bank.
Some staff of the AfDB had accused Adesina of 20 breaches of the bank’s code of conduct, including “unethical conduct, private gain, an impediment to efficiency, preferential treatment, and involvement in political activities”. The bank’s ethics committee carried out an independent investigation headed by Takuji Yano and cleared Adesina, insisting he was not guilty on all counts.
However, in a letter by US Treasury Secretary, Stephen Mnuchin dated 22nd May and addressed to Niale Kaba, chair of AfDB’s board of governors, rejected the findings by the ethics committee of the bank that “totally exonerated” Adesina and has called for a deeper investigation. The US Treasury owns the largest non-African stake in the bank.
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