300,504FansLike
227FollowersFollow
6FollowersFollow
FollowersFollow
906FollowersFollow
138SubscribersSubscribe

Trump administration asks African Development Bank to re-investigate its embattled President Akinwumi Adesina accused of nepotism and favoritism

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available for all.

The Donald Trump administration has written the African Development Bank, urging the continent’s biggest multilateral lender to reopen an investigation into serious allegations of nepotism and favoritism against its embattled President Nigerian Akinwumi Adesina.

According to the AfDB’s website, the U.S. has a 6.5% stake in the lender, the largest shareholding after Adesina’s home country of Nigeria as of November 2019, noted Bloomberg.

In a letter dated May 22 and addressed to Niale Kaba, chairwoman of the bank’s board of governors, U.S. Treasury Secretary Steven Mnuchin called for an independent probe into allegations against Adesina, after the Bank’s board announced on May 5 that he had been “totally exonerated” from the serious allegations against him.

[read_more id="2" more="Read full article" less="Read less"]

Mnuchin said the Treasury disagrees with findings by the bank’s ethics committee that “totally exonerated” Adesina.

A group of unidentified whistleblowers have accused Adesina of handing contracts to acquaintances and appointing relatives to strategic positions at the Abidjan-based lender.

The Bank’s board investigated the allegations and “totally exonerated” Adesina, and Nigerian President Muhammadu Buhari celebrated the ‘exoneration’ in a statement on May 7.

Mr. Buhari quoted a report dated May 5, 2020, signed by Niale  Kaba, Chairman of the Bureau of the Board of Governors, that reportedly “indicated that Dr Adesina had been exonerated of allegations against him by whistleblowers.”

Mr. Buhari quoted the report as saying that the allegations against the Nigerian man “were thoroughly investigated by the Ethics Committee of the Board of Directors, and a recommendation made to Governors of the African Development Bank, and African Development Fund.

President Buhari said Dr Adesina has “served the African continent well, and has made his motherland proud.”

“He wishes him greater successes in the position of responsibility he occupies,” a statement by Femi Adesina, a spokesman from President Buhari said of Akinwumi Adesina on May 7.

But in his letter two weeks after on May 22, U.S. Treasury Secretary Steven Mnuchin rejected the results of those investigations, indicating that they were not independent.

“We have deep reservations about the integrity of the committee’s process,” Mnuchin said. “Instead, we urge you to initiate an in-depth investigation of the allegations using the services of an independent outside investigator of high professional standing.”

“Considering the scope, seriousness, and detail of these allegations against the sole candidate for bank leadership over the next five years, we believe that further inquiry is necessary to ensure that the AfDB’s president has broad support, confidence, and a clear mandate from shareholders,” Mnuchin added.

Adesina, 60, has refuted allegations against him. He is the only candidate up for election as president at an annual general meeting scheduled for August.

Bloomberg reported that the AfDB “is Africa’s biggest multilateral lender and has an AAA rating from Fitch Ratings, Moody’s Investors Service and S&P Global Ratings. Its shareholders are Africa’s 54 nations and 27 countries in the Americas, Europe, Middle East and Asia.”

“In March, the lender issued a $3 billion social bond to help African countries deal with the fallout from the coronavirus pandemic. Bids for the securities on the London money market exceeded $4.6 billion. The bank also launched a $10 billion crisis-response facility for African nations,” the publication added.

[/read_more]

Simon Ateba
Simon Ateba
Based in Washington, District of Columbia, United States of America, Simon leads a brilliant team of reporters, freelance journalists, analysts, researchers and contributors from around the world to run TODAY NEWS AFRICA as editor-in-chief. Simon Ateba's journalistic experience spans over 10 years and covers many beats, including business and investment, information technology, politics, diplomacy, human rights, science reporting and much more. Write him: simonateba@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

300,504FansLike
227FollowersFollow
6FollowersFollow
1FollowersFollow
906FollowersFollow
138SubscribersSubscribe

JUST IN

South Africa, Morocco, Egypt, Ethiopia and Nigeria account for 71% of all COVID-19 cases in Africa

South Africa, Morocco, Egypt, Ethiopia and Nigeria continue to drive COVID-19 infections in Africa, accounting for 71% of all cases on...

New evidence shows refugees and migrants trapped in horrific cycle of abuses in Libya

Tens of thousands of refugees and migrants in Libya are trapped in a vicious cycle of cruelty with little to no...

Amnesty International condemns grand jury’s decision not to file any charges in Breonna Taylor death

Amnesty International on Wednesday condemned a Kentucky grand jury's decision not to file any charges against any officers involved in Breonna...

Ethiopian health expert and WHO Director General Dr. Tedros Adhanom Ghebreyesus is one of Time 100 most influential people in 2020

Ethiopian health expert and World Health Organization (WHO) Director General Dr. Tedros Adhanom Ghebreyesus is one of Time Magazine's 100 most...

Cameroon soldiers get 10 years for murder of civilians in trial conducted behind closed doors

A military court in Cameroon on Monday, September 21, sentenced four soldiers to 10 years in prison and one other to 2 years...

MOST POPULAR

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

USAID awards millions of dollars to Washington State University to combat lethal livestock disease in East Africa known as East Coast Fever

The U.S. Agency for International Development (USAID) has awarded millions of dollars to Washington State University to combat a lethal livestock...

Ethiopia charges prominent opposition figure Jawar Mohammed with terrorism

As human rights organizations continue to warn that Prime Minister Abiy Ahmed is turning Ethiopia into a dictatorship, his administration on...

WHO and UNICEF sign 10-year partnership to promote mental health of children and adolescents

 A new partnership between WHO and UNICEF is calling for key actions in universal health coverage, mental health, emergencies and nutrition

Bill Gates praises Africa’s response to COVID-19 but warns against collateral damage

Microsoft founder Bill Gates on Sunday praised Africa's response to the novel coronavirus but warned against collateral damage, including a drastic...

G5 supports ongoing electoral process in Central African Republic as presidential election nears

The G5, which includes the African Union, the Economic Community of Central African States, France and the EU, would help the CAR to achieve transparent, credible elections accepted by all parties."The G5, a group of states and international partner institutions of the Central African Republic (CAR), is determined to support the ongoing electoral process in the CAR, "...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

68 Shares
Share
Tweet
WhatsApp
Reddit
Share