Saturday, March 7, 2026
27.1 C
Lagos

US Seeks Probe of AfDB’s President, Adesina over Ethics Allegations

 

The United States of America (USA) through its Department of the Treasury has written to the Board of Governors of the African Development Bank (AfDB) seeking an independent probe into allegations of ethics abuses by its president, Akinwumi Adesina.

According to the AFP, US Treasury Secretary, Steven Mnuchin expressed “deep reservations” about the outcome of an internal inquiry which recently cleared Adesina.

In the letter dated May 22, 2020 and addressed to the chair of the AfDB’s board, Ivorian Planning and Development Minister Niale Kaba, Mnuchin said:

“We urge you to initiate an in-depth investigation of the allegations using the services of an independent outside investigator of high professional standing. We fear that wholesale dismissal of all allegations without appropriate investigation will tarnish the reputation of this institution as one that does not uphold high standards of ethics and governance. This is a serious risk when we need strong confidence in the AfDB to play an influential role in the current global economic and health crisis, and when many shareholders are seeking legislative support for payments under the recently-concluded General Capital Increase.”

The allegations against Adesina emanated from whistleblowers’ 15-page report accusing Adesina of embezzlement, preferential treatment for Nigerians in senior appointments and the promotion of people suspected or convicted of fraud and corruption.

However, the bank’s ethics committee conducted an internal inquiry and dismissed the allegations against Adesina on the ground that the complaint “rested on no objective, solid facts.”

In his own reaction, Adesina described the allegations as “spurious and unfounded” and “blatantly false.”

However, in a new letter to Bank Governors, a group of anonymous “concerned staff members of the AfDB” denounced the internal probe that cleared Adesina, saying it was tainted by “irregularities and manipulations.”

spot_img
spot_img
spot_img

Hot this week

Tinubu: Oyedele In, Uzoka-Anite Out as Minister of State for Finance

President Bola Ahmed Tinubu has nominated Mr Taiwo Oyedele...

FG, ENI, NAEL Resolve OPL 245, Unlocks Major Deepwater Investment

Chief Executive Officer Eni, Claudio Descalzi and President Bola...

FG: Tax Reforms Will Improve Lives, Not Impoverish Nigerians

Vice President Kashim Shettima said on Wednesday in Abuja,...

Nigeria to Unveil National Single Window Platform March 27

Nigeria will launch the highly anticipated National Single Window...

Stanbic IBTC Regional Economic Outlook Series Positions Investors for Confident 2026 Decision Making

Stanbic IBTC has concluded its 2026 Regional Economic Outlook...

Topics

Stanbic IBTC Bank Wins Agric Bank of the Year Award

L-R: Wole Oshin, Head, Agribusiness; Olushola Alarege, Head, North...

DANGCEM Drags Benchmark Index … NSE ASI Down 1.2%

The positive performance recorded on the last trading day...

NNPC, JV Partners, NDDC Commission N24.5bn Ogbia-Nembe Road

L-R: Deputy Governor of Bayelsa State, Sen. Lawrence Ewhrudjakpo;...

Access Bank, SaltinGStein Unveil Winbundle Airtime2Win Initiative

L - R: Simi Daphne Adeoye VP Business Development and...

Digital Inclusion: Bridging the Digital Divide by 2030

Professor Umar Danbatta Executive Vice-Chairman Nigerian Communications Commission The International Telecommunication Union...

Munich Re Takes $1.8bn Pandemic Loss, Stops Business Coverage

Munich Re has stopped selling coverage to protect against...

Stanbic IBTC Bank Nigeria PMI: Private Sector Growth Quickens in April

Marked and accelerated expansions in output and new orders...

‘NAICOM Should Extend Recapitalisation Deadline to 2021’

Mr. Tope Smart Chairman Nigerian Insurers Association An operator in the insurance...
spot_img

Related Articles

Popular Categories

spot_imgspot_img