Wednesday, December 17, 2025
33 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

Renowned Economist, Tony Epelle, Advocates $2tn Economy by 2030

L-R: Garba Kurfi, Managing Director/CEO, APT Securities and Funds...

NDIC: Notice to Depositors of Liquidated Aso Savings & Loans, Union Homes Savings & Loans

Following the revocation of the licenses of Aso Savings...

Lagos State Applauds Leadway, Ouida for Inspiring Festember Read along with Onakoya, Shoneyin

Leadway Group, one of Nigeria’s foremost non-banking financial services...

Nigeria Reaffirms Commitment to Economic Stability at U.S.–Nigeria Business Roundtable

The Governor of the Central Bank of Nigeria (CBN),...

BudgIT Seeks Transparency, Accountability as FG Defers 70% of 2025 Capital Projects to 2026

BudgIT, a leading civic-tech organisation promoting transparency and accountability...

Topics

New Energy Solar Redefines Solar Installation Business in Nigeria

With many years of experience as a Solar energy...

NCC: Re-engineering Regulation, Management Tools to Drive Telecoms Sector

L-R: Quassim Odunmbaku, Special Assistant, ECSM's office, NCC; Abulaziz...

Quickteller Unveils Toyin Abraham, Destiny Etiko as Brand Influencers

L-R- Priscilla Iyari, Brand Manager, Quickteller; Chidike Oluaoha, Group...

Insurance Sector: N533bn Premium Income, N243bn Claims in Q3, 2022

Mr. O.S. Thomas Commissioner for Insurance/CEO National Insurance Commission (NAICOM) The Nigerian...

NISS Seeks Collaboration with NCC to Improve National Security

  National Institute of Security Studies (NISS) has engaged the...

Great Nigeria Insurance: ‘Nigerians Should Adopt Insurance as Culture’

Great Nigeria Insurance Plc has called on Nigerians to...

Stanbic IBTC Leverages Tech for 2020 Edition of Together4ALimb

Stanbic IBTC Holdings PLC has leveraged technology in organising...

NSE Wins Outstanding Invaluable Company Award for CSR

The Nigerian Stock Exchange (NSE) is pleased to announce...
spot_img

Related Articles

Popular Categories

spot_imgspot_img