AfDB: Adesina’s 2nd term ambition faces US hurdles

The second term bid of Akinwumi Adesina as President of Africa Development Bank (AfDB) may be under threat following the insistence of the US government that he should be investigated for certain allegations leveled against him by some group.

It would be recalled that a group under the aegis of Concerned Staff members had alleged cases of breach of code of conduct by Nigeria’s former Agriculture minister to include unethical conduct, private gain, an impediment to efficiency, preferential treatment, involvement in political activity, among other activities they alleged to have adversely affected confidence and integrity of the bank.

However, Adesina did described as spurious and unfounded the allegation by the group, noting that he had strong confidence in the governance systems of the bank put in place by its Board of Governors.

And in April, the Ethics Committee of the Board of Directors of the bank acquitted Adesina of all allegations.

A report signed by the Chairman of the Bureau of the Board of Governors of AfDB, Niale Kaba, absolved Adesina of all the allegations “which were thoroughly investigated by the Ethics Committee of the Board of Directors.”

But in renewed onslaught to thwart his second term bid, the U.S Treasury Secretary, Steven Mnuchin, called for an independent probe into allegations, rejecting plans by the bank’s board to stop the investigation on the issue.

In a letter dated May 22 and addressed to the Chairperson of the AfDB board of directors, Niale Kaba, the US Treasury Department disagreed with the findings by the bank’s ethics committee that cleared Adesina of any wrongdoing.

According to the US treasury secretary, “We have deep reservations about the integrity of the committee’s process. Instead we urge you to initiate an in-depth investigation of the allegations using the services of an independent outside investigator of high professional standing.”

The criticism by the United State Government, who is the biggest non-African shareholder, follows questions about the bank’s internal processes and comments by World Bank President, David Malpass in February that multilateral lenders including the AfDB tend to lend money too quickly, and in the process add to the debt problems in Africa.

Adesina had refuted this claim, describing it as not fact based.