Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Nigeria's president backs embattled African Development Bank chief

Published 06/02/2020, 03:39 PM
Updated 06/02/2020, 03:40 PM
© Reuters. Akinwumi Ayodeji Adesina, President of the African Development Bank Group, attends a meeting of the 2020 African Economic Outlook report in Abidjan

© Reuters. Akinwumi Ayodeji Adesina, President of the African Development Bank Group, attends a meeting of the 2020 African Economic Outlook report in Abidjan

ABUJA (Reuters) - Nigerian President Muhammadu Buhari on Tuesday gave his backing to the head of the African Development Bank (AfDB), Akinwumi Adesina, in his re-election bid despite allegations of improper conduct.

Adesina, who served as Nigeria's agriculture minister before taking the AfDB's top job in 2015, has been accused of abuse of office by a whistleblower at the bank including favouritism in hiring.

Adesina, who denied the allegations, was later cleared of wrongdoing in an internal investigation.

But U.S. Treasury Secretary Steve Mnuchin signed a letter to the bank's board on May 22 rejecting the internal investigation.

The United States, AfDB's second-largest shareholder after Nigeria, is demanding a new independent investigation, saying it has reservations about the integrity of the banks process.

Adesina later this year plans to pursue a second term as a the head of the multilateral lender, which is headquartered in Ivory Coast's commercial capital Abidjan. He visited Buhari in Nigeria's capital, Abuja, on Tuesday.

"President Muhammadu Buhari says Nigeria will stand solidly behind Dr Akinwumi Adesina in his bid to get re-elected as President of the African Development Bank," a statement from Buhari's office said.

It also quoted Adesina as saying the allegations levelled against him are baseless.

"I was exonerated, and any other investigation would amount to bending the rules of the bank, to arrive at a predetermined conclusion," Adesina said.

© Reuters. Akinwumi Ayodeji Adesina, President of the African Development Bank Group, attends a meeting of the 2020 African Economic Outlook report in Abidjan

Several former African heads of state and current presidents have signed a separate statement supporting Adesina.

Latest comments

there is atom of truth in Rumors,be good and do the needful...Mr Ade
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.