Saturday, May 2, 2026
26.6 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

NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

Shareholders of Nigerian Exchange Group Plc (NGX Group) have...

Sovereign Trust Insurance Set for Market Leadership via N5bn Rights Issue

Sovereign Trust Insurance Plc has completed the structuring phase...

All Set for Ecobank 2026 National Schools’ Team Chess Championship

L–R: Austen Osokpor, Head, Marketing and Corporate Communications, Ecobank...

Guinea Insurance Signals Recovery Momentum Amid Elevated Claims

Guinea Insurance Plc has announced its unaudited financial results...

TeamApt CEO says Financial Inclusion is Dependent on Reliable Payment Ecosystem

L-R: Mr. Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters’...

Topics

Nigerians Should Expect N2000 to $1 Exchange Rate in 2025

Cheta Nwanze, Founder of SBM Intelligence says Nigerians (individuals...

NCDMB to Sponsor New R&D Projects, as Triple Helix Nigeria Unveils Vision

L-R: Prof Eucharia Nwaichi, Chairman Centra Planning Committee, Triple...

Corruption: A Burden on Nigerian Businesses—Allianz Report

The Allianz Risk Barometer 2018 report reveals theft, fraud and corruption as the...

Leadway Assurance: ‘Nigerians Should Buy Term Life Assurance Policy’

Ms. Adetola Adegbayi, Executive Director, Leadway Assurance Company Limited...

FG Commends Waltersmith Refinery, NCDMB for Improving Domestic Refining Capacity

L-R: The President Waltersmith Group; Mr. Abdulrasaq Isa, Managing...

9mobile on the Verge of Collapse

The decision of Teleology Holdings Limited to exit 9mobile...

Sovereign Trust Insurance Partners Igbobi College on Industry Career

Cross Section of Igbobi College Students, Teachers and Staff...
spot_img

Related Articles

Popular Categories

spot_imgspot_img