Thursday, May 7, 2026
27.7 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

Stanbic IBTC Reinforces Leadership in Trade Finance at GTR West Africa 2026

L–R: Seun Ogundolapo, Head, Trade, Transaction Banking, Stanbic IBTC...

CIIN Unveils Programme for Insurance Week 2026

The Chartered Insurance Institute of Nigeria (CIIN) has rolled...

The Machine Era of Spam: Nigeria is Africa’s Most Spammed Country

A phone call used to mean a person on...

Mutual Benefits Bags Double Honours at 2026 NIA Awards Ceremony

Mutual Benefits Assurance Plc has recorded a significant milestone...

Topics

Emmanuel Ibe Kachikwu: The Dawn of Transparent Reform in NNPC

The above inspirational tune by Dr. Emmanuel Ibe Kachikwu, Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) minutes after he took over the reins clearly underscores the key importance of his mission and desire to change the story of NNPC along the path of transparency and sustainable contribution to national economic growth.

NAIPCO to Honour 21 Insurance, Pension Operators with Award

No fewer than 21 outstanding companies and individuals in...

NIA Chairman Unveils 4 Strategies to Grow Insurance Sector

Mr. Eddie Efekoha, Chairman, Nigerian Insurers Association has...

Heirs Insurance Floats ₦5m Grant to Empower Retirees, Pre-Retirees

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has launched...

SEC, NGX Group Reinforce Commitment to Capital Market Digital Transformation

The Securities and Exchange Commission (SEC) and Nigerian Exchange...

Leadway Launches First Ever Lifestyle Fair to Empower, Spotlight Young Entrepreneurs

Leadway, one of Nigeria’s top non-banking financial services and...

$600m Airline Funds Trapped in Nigeria

The International Air Transport Association (IATA) has called on...

Union Bank: Cardoso’s Remarks at MPC Meeting Aligns with Our Recapitalisation Journey

Union Bank of Nigeria has issued a statement reaffirming...
spot_img

Related Articles

Popular Categories

spot_imgspot_img