Nigeria Doubles AfDB Voting Rights Ahead Of Adesina’s Re-election

Nigeria has increased its voting right few days before the re-election of Akinwumi Adesina as the African Development Bank president over the next five years.

Nigeria has grown its voting right to 16.8 per cent from 9.1 per cent previously held.

This was contained in a memorandum sent to bank governors dated August 20 this year, according to Blomberg.

Based on the Development, Nigeria becomes by far the highest shareholder followed by non-regional members Germany with 7.4 per cent and the United States with 5.5 per cent

Nigeria consolidated its position after paying subscriptions it had pledged as part of a general capital before the deadline which is January 2021.

Nigeria’s Adesina had been cleared of corruption allegations l, a development that qualifies him for re-election in the next Annual General Meeting on August 25 and 27.

Adesina is the sole candidate running for the post as some leader have put weight behind the Nigerian in favour of his re-election.