United States Commends AfDB Review Of Adesina’s Probe

United States Treasury Secretary Steven Mnuchin has commended the decision by Africa’s largest multilateral lender, the  African Development Bank to conduct an independent probe into the bank’s President, Dr  Akinwumi Adesina.

The statement was against the backdrop of the panel set to  review the AfDB’s ethics committee report that found no evidence of wrong-doing by Adesina.

The US had questioned the decision of the AfDB ethics committee over a whistleblower allegation that claimed Adesina gave positions to his kinsmen and also awarded contracts to acquaintances.

Mnuchin in the statement said, “I welcome the African Development Bank Governors’ decision to conduct an independent review of the work of the Bank’s Ethics Committee and its appointment of a high-level panel led by former Irish President Mary Robinson to conduct the review.

‘Undertaking an independent review is fully consistent with a presumption of innocence. International financial institutions must adhere to the highest standards of governance and transparency, and the decision to pursue an independent review demonstrates the strength of the African Development Bank.”

The call for an independent probe had ignited a dispute between the US who is the second largest shareholder of the bank   and Nigeria who is the largest shareholder.

The bank would hold its annual general meeting in August where it would elect its next president.

Adesina is currently seeking to extend his five-year tenure in office as sole candidate for the position.

The US Treasury had expressed doubt over the leadership of the bank with Adesina, in the next five years if re- elected.