A former Communications and External Relations Director of the African Development Bank, Dr Victor Oladokun, has said that Dr Akinwumi Adesina will not step down as the president of the bank following an independent probe as requested by the U.S and board supported by the AfDB’s board.
READ ALSO: Buhari Directs Finance Minister, Others, To Seal Siemens Deal
Stating this in a Facebook post, Dr Victor stated:
Akinwunmi Adesina has not stepped down and is still President of the African Development Bank, Africa’s premier development finance institution.
According to a Bloomberg reported, Adesina would step aside to allow a fresh probe into the 15 allegations of improprieties levelled against him by a whistleblower, as the U.S. Treasury Secretary, Steven Mnuchin had rejected an internal investigation that cleared Adesina of the allegations.
Quoting sources familiar with deliberations on the matter, Bloomberg reported that Africa’s largest multilateral lender decided on the inquiry after several governments backed Mnuchin.
Adesina has, however, repeatedly denied wrongdoing, prior to his now rejected internal probe.
In a statement where he declared his innocence, Adesina stated:
I am confident that fair, transparent and just processes that respect the rules, procedures and governance systems of the bank, and the rule of law, will ultimately prove that I have not violated the code of ethics of this extraordinary Institution.
His statement did not, however, indicate that he will step aside for the investigation to hold.
Meanwhile, the whistleblowers accused Adesina of handing contracts to acquaintances and appointing relatives to strategic positions.
The proposed investigation comes three months before the bank’s annual meeting, with Adesina as the sole candidate to extend his five-year term.
The AAA-rated lender’s 80 shareholders in October pledged to provide funding that will help to more than double its capital base to $208 billion.
The U.S. Treasury Secretary, in the meantime, wrote to the AfDB last week to express “deep reservations” about the integrity of the lender’s ethics committee after Adesina was exonerated.
In the May 22 letter addressed to the chairwoman of the bank’s board of governors, Niale Kaba, Mnuchin said that the scope and detail of the allegations are serious enough for a further inquiry to ensure the AfDB’s shareholders have confidence in the bank’s leadership.
The U.S. is the AfDB’s biggest shareholder after Nigeria.
