• Latest
  • Trending
AfDB president, Adesina, fights back against corruption allegations

FG, Obasanjo criticize US over fresh probe on Adesina

2 years ago
2023: Why Tinubu leads, By Adesoji Akanbi

2023: Why Tinubu leads, By Adesoji Akanbi

4 hours ago
‘Rotate power to South to retain power’- Akeredolu tells APC

Akeredolu: Why southerner should succeed Buhari in 2023

9 hours ago
17-year-old  student commits suicide for failing promotion exams

Monarch docked for attacking another traditional ruler

9 hours ago
‘Rotate power to South to retain power’- Akeredolu tells APC

Owo church attack: Akeredolu clears air on arrest of Kuje prison escapee

10 hours ago
VON DG to Tinubu: shelve your presidential ambition, back young candidate from South East

Tell your supporters to stop attacking Tinubu, campaign organisation warns Peter Obi

12 hours ago
Lalong: Pope hasn’t told me it’s wrong to lead Muslim-Muslim presidential campaign

Lalong: Pope hasn’t told me it’s wrong to lead Muslim-Muslim presidential campaign

12 hours ago
Terrorists release four children, three others abducted on Abuja-Kaduna train

Terrorists release four children, three others abducted on Abuja-Kaduna train

12 hours ago
Killings: We’ll ensure Okowa’s vice presidential ambition becomes mirage- IPOB

Killings: We’ll ensure Okowa’s vice presidential ambition becomes mirage- IPOB

15 hours ago
FULL LIST: Oyo PDP NASS candidates for 2023 elections

2023: Oyo PDP asks IGP, Police Commissioner to monitor Folarin’s activities

16 hours ago
Oyo to refund intending pilgrims who missed 2022 Hajj

Oyo to refund intending pilgrims who missed 2022 Hajj

16 hours ago
Why Buga crooner, Kizz Daniel was arrested in Tanzania

Kizz Daniel apologises to Tanzanian fans, promises free show Friday

19 hours ago
‘I’ll never interfere in Nigeria’s internal affairs’-Ghana President disowns post asking ‘Tinubu to give Peter Obi a chance’

‘I’ll never interfere in Nigeria’s internal affairs’-Ghana President disowns post asking ‘Tinubu to give Peter Obi a chance’

19 hours ago
‘Act now before it’s too late’-LAUTECH students seek Buhari, Makinde’s intervention on abducted student

LAUTECH student killing: Oyo monarch pledges to volunteer information

20 hours ago
RCCG retires National Overseer,  70-year-old pastors

RCCG retires National Overseer, 70-year-old pastors

1 day ago
FG lauds NCC’s regulatory strides

FG lauds NCC’s regulatory strides

1 day ago
Osun 2022: Stop attacking Makinde, he has no anointed candidate –Rep

JUST IN: Makinde effects minor cabinet reshuffle

1 day ago
Councillors suspend Ido LG chairman indefinitely

Councillors suspend Ido LG chairman indefinitely

1 day ago
I’ll still perform if you take me away from PDP, Wike boasts

I’ll still perform if you take me away from PDP, Wike boasts

1 day ago
  • Contact Us
  • Advertise
Thursday, August 11, 2022
Newspeakonline
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
Newspeak
UBA
Home World Africa

FG, Obasanjo criticize US over fresh probe on Adesina

Akinwande Soji-Ojo by Akinwande Soji-Ojo
May 29, 2020
in Africa, News
Reading Time: 4 mins read
264 2
0
AfDB president, Adesina, fights back against corruption allegations
Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

The Federal Government, on Thursday opposed the decision of the board of the African Development Bank (AfDB) to conduct an independent investigation into allegations against the bank’s President, Dr. Akinwumi Adesina.

RelatedPosts

FG lauds NCC’s regulatory strides

Minister reaffirms FG’s commitment to indigenous telecoms content

Strike: How officials are sabotaging negotiations with FG-ASUU

The Minister of Finance, Zainab Ahmed, made the Federal Government’s position on the matter known, in a letter she personally signed and addressed to Mrs Kaba Niale, the bank’s chairman of the board of governors.

The Federal Government said the move was not in line with laid-down procedures, and insisted that due process must be followed to “protect and preserve the bank.”

FeedWell

The AfDB ethics committee had cleared Adesina of the allegations of corruption and favouritism levelled against him by some whistleblowers.

Specifically, he was accused of giving contracts to acquaintances, appointing relatives and friends to strategic positions, and giving preferential treatment to Nigeria and Nigerians.

However, Ahmed said: “The call for an independent investigation of the President is outside of the laid-down rules, procedures and governing system of the bank and its Articles as it relates to the Code of Conduct on Ethics for the President.

“As Board of Governors, we must uphold the rule of law and respect the governance system of the bank.

“If there are any governance issues that need improvement, these can be considered and amendments proposed for adoption in line with the laid-down rules.”

Noting that the Nigerian government had followed the matter very closely, the minister stressed that the ethics committee had dismissed the allegations by the whistleblowers.

She revealed that the Federal Government welcomed the conclusion reached by the ethics committee, which, according to her, called on all oversight organs of the bank to answer relevant questions and provide information relating to the allegations.

“The ethics committee also called on the whistleblowers to submit any additional evidence, facts and documents to buttress their allegations but they did not,” she said.

Ahmed further stated that the ethics committee followed the rules, laws, procedures and guidelines in conducting and completing its work, adding that the chair of the board also followed due process when she concurred with the committee’s report, which dismissed the allegations.

Pointing out that Adesina’s reelection, initially scheduled for May 28, has now been postponed to 25-27 August, the minister stressed that he “delivered impactful programmes and impressive results at the bank.”

She listed Adesina’s achievements to include securing a general capital increase of $115 billion, the largest ever in the history of the bank.

Adesina also developed a $10 billion Crisis Response Facility to fight coronavirus in Africa, and also led the bank to launch a $3 billion ‘Fight COVID-19’ social bond, the largest US dollar-denominated social bond in world history.

Ahmed noted that the African Union had endorsed Adesina for reelection, following his endorsement by the ECOWAS Heads of State and Governments.

She commended the chairman of the AfDB board for endorsing the ethics committee’s report.

Also, former President, Chief Olusegun Obasanjo, has kicked against the development, which followed intense pressure mounted on the bank’s board by the United States.

Obasanjo, while also faulting the independent investigation, said the allegations were part of an attempt by some non-regional member countries of the bank to frustrate Adesina’s reelection for a second term.

The former president stated this in a letter he personally addressed to former presidents of some African countries.

Obasanjo also aligned with the Federal Government’s position that an independent investigation was not in line with laid-down procedures.

According to him, the ethics committee and the chairman of the board acted in accordance with the laid-down procedures in dismissing the allegations.

He condemned the role played by the US, which championed the calls for the independent investigation.

The former president accused the US of disparaging the bank and ridiculing its entire governance system, which had been in place since 1964.

Urging the African leaders to rise up and defend the bank, Obasanjo said: “If we do not rise up and defend the AfDB Group, this might mean the end of the bank, as its governance will be hijacked away from Africa.”

He urged the presidents to collectively issue a press statement to support the laid- down procedures followed in evaluating the allegations.

Meanwhile, the Bureau of the Boards of Governors of the bank on Thursday denied asking Adesina to step down for the independent probe.

The chairman of the bureau, Kaba Niale, in a statement said reports that Adesina was directed to step down were false, adding that there was no governance crisis at the AfDB.

She noted that the board had not taken any decision, stating that the matter was being given serious attention.

What's Your Reaction?

  • LolLol
    0
    Lol
  • OMGOMG
    0
    OMG
  • AngryAngry
    0
    Angry
  • LoveLove
    0
    Love
  • CuteCute
    0
    Cute
  • WinWin
    0
    Win
  • CryCry
    0
    Cry

Related

Tags: AfDBAkinwunmi AdesinaFGObasanjoUSA
Previous Post

House of Reps member wades into contractor, community face off over road construction in Ibadan

Next Post

Nigeria records 182 new coronavirus cases, total now 8,915

RecentPosts

‘Rotate power to South to retain power’- Akeredolu tells APC

Akeredolu: Why southerner should succeed Buhari in 2023

August 10, 2022
17-year-old  student commits suicide for failing promotion exams

Monarch docked for attacking another traditional ruler

August 10, 2022
‘Rotate power to South to retain power’- Akeredolu tells APC

Owo church attack: Akeredolu clears air on arrest of Kuje prison escapee

August 10, 2022
VON DG to Tinubu: shelve your presidential ambition, back young candidate from South East

Tell your supporters to stop attacking Tinubu, campaign organisation warns Peter Obi

August 10, 2022
Terrorists release four children, three others abducted on Abuja-Kaduna train

Terrorists release four children, three others abducted on Abuja-Kaduna train

August 10, 2022
Killings: We’ll ensure Okowa’s vice presidential ambition becomes mirage- IPOB

Killings: We’ll ensure Okowa’s vice presidential ambition becomes mirage- IPOB

August 10, 2022
Oyo to refund intending pilgrims who missed 2022 Hajj

Oyo to refund intending pilgrims who missed 2022 Hajj

August 10, 2022
‘I’ll never interfere in Nigeria’s internal affairs’-Ghana President disowns post asking ‘Tinubu to give Peter Obi a chance’

‘I’ll never interfere in Nigeria’s internal affairs’-Ghana President disowns post asking ‘Tinubu to give Peter Obi a chance’

August 10, 2022
Next Post
BREAKING: Nigeria records 313 new COVID-19 cases, total now ‪7,839

Nigeria records 182 new coronavirus cases, total now 8,915

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newspeakonline

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Navigate Site

  • Breaking News
  • Business
  • Entertainment
  • Interview
  • Newpeak Magazine
  • Newspeak Exclusives
  • Politics

Follow Us

No Result
View All Result
  • Home
  • Latest News
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
  • Opinion
  • Interview
  • Newspeak Exclusives

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newspeak We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications