Home Banking AFDB accepts fresh probe of Adesina at US govt instance

AFDB accepts fresh probe of Adesina at US govt instance

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The U.S Government, in its letter AfDB’s board of directors, appeared convinced that the ethics committee of the bank did not do a proper preliminary investigation.

Published 23 hours ago on May 27, 2020 By Chike Olisah Africa Development Bank. AfDB develops Index to aid women empowerment , African Development Bank awards $1.1 million to boost food production in Africa , AFDB increases capital to $208 billion in bid to secure Africa’s future , African Investment Forum: AfDB eye $67 billion deals , ECOWAS backs Adewunmi Adesina’s re-election as AfDB election nears , AfDB bows to pressure from U.S., orders an independent probe of Akinwumi Adesina

The African Development Bank (AfDB) has succumbed to pressure from the United States Government by ordering a new and independent probe of the bank’s president, Akinwumi Adesina.

The board of African Development Bank (AfDB) decided to go for an independent probe after the U.S. Treasury Secretary, Steven Mnuchin, openly rejected the decision of the bank’s ethics committee to clear Adesina of all the allegations brought against him by some whistleblowers.
BUSINESS NEWSAfDB bows to pressure from U.S, orders an independent probe of Akinwumi Adesina
The U.S Government, in its letter AfDB’s board of directors, appeared convinced that the ethics committee of the bank did not do a proper preliminary investigation.

Published 23 hours ago on May 27, 2020 By Chike Olisah Africa Development Bank. AfDB develops Index to aid women empowerment , African Development Bank awards $1.1 million to boost food production in Africa , AFDB increases capital to $208 billion in bid to secure Africa’s future , African Investment Forum: AfDB eye $67 billion deals , ECOWAS backs Adewunmi Adesina’s re-election as AfDB election nears , AfDB bows to pressure from U.S., orders an independent probe of Akinwumi Adesina
The African Development Bank (AfDB) has succumbed to pressure from the United States Government by ordering a new and independent probe of the bank’s president, Akinwumi Adesina.

The board of African Development Bank (AfDB) decided to go for an independent probe after the U.S. Treasury Secretary, Steven Mnuchin, openly rejected the decision of the bank’s ethics committee to clear Adesina of all the allegations brought against him by some whistleblowers.
According to a monitored report from Bloomberg, inside sources who want to remain anonymous said that the AfDB, which is Africa’s largest multilateral development financial institution, gave in to the request of the U.S Government, by ordering an independent investigation into the activities of Adesina. Note that many other foreign governments such as Denmark, Sweden, Norway, and Finland supported the U.S treasury’s stand on the matter.

The U.S Government, in its letter AfDB’s board of directors, appeared convinced that the ethics committee of the bank did not do a proper preliminary investigation in line with standard practices in the other international multilateral financial institutions and the bank’s own rules and procedures.
SOURCE:naira metrics

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