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Business

AMEC Launches GEO Principles to Bring Rigour to AI-led Communications Measurement

AMEC, the International Association for the Measurement and Evaluation...

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

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Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO, Repton Group, Keynote Speaker...

Guinness Nigeria CEO Attributes Strong 2026 Start to Operational Efficiency, Localised Decision-Making

The Managing Director/CEO of Guinness Nigeria Plc, Girish Sharma...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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Capital Market

NGX Group Chair, Umaru Kwairanga, Receives International Business Achiever Award 2026

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NGX Seeks Cross-Listing Opportunities with Nairobi Securities Exchange

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

NGX Group Advances Investor Education Drive with Digital Retail Engagement Initiative

Nigerian Exchange Group has intensified its investor education drive...

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

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

Insurance

NAICOM Chief Leads Delegation to Abia State, Pledges Partnership on Policyholders Protection, Economic Growth

The Commissioner for Insurance, National Insurance Commission (NAICOM), Mr....

AIICO Insurance Drives Community Health Impact with Malaria Prevention Outreach in Oyo State

AIICO Insurance Plc has reaffirmed its commitment to improving...

Mutual Benefits Delivers Strong 2025 Financial Performance, Record Profit Growth, Balance Sheet Expansion

Mutual Benefits Assurance Plc has announced its audited financial...

Heirs Insurance Group Opens Entry for 5th Essay Championship with ₦11.5m Prizes for Students, Teachers, Schools

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

Business

AMEC Launches GEO Principles to Bring Rigour to AI-led Communications Measurement

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CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

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Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

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Guinness Nigeria CEO Attributes Strong 2026 Start to Operational Efficiency, Localised Decision-Making

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ICT

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Capital Market

NGX Group Chair, Umaru Kwairanga, Receives International Business Achiever Award 2026

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

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Insurance

NAICOM Chief Leads Delegation to Abia State, Pledges Partnership on Policyholders Protection, Economic Growth

The Commissioner for Insurance, National Insurance Commission (NAICOM), Mr....

AIICO Insurance Drives Community Health Impact with Malaria Prevention Outreach in Oyo State

AIICO Insurance Plc has reaffirmed its commitment to improving...

Mutual Benefits Delivers Strong 2025 Financial Performance, Record Profit Growth, Balance Sheet Expansion

Mutual Benefits Assurance Plc has announced its audited financial...

Heirs Insurance Group Opens Entry for 5th Essay Championship with ₦11.5m Prizes for Students, Teachers, Schools

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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.”

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Beyonic, Accord to Transform Mobile Money in Africa

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Rivers State to Host 2017 Editors’ Conference

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