AfDB succumbs to US pressure, orders probe of Adesina

Adebayo Obajemu

The embattled president of Africa Developnment Bank though has consistently maintained his innocence, the opposition of US to his continued stay in office is yet to abate.

The U.S Government, in furtherance of its insistence on thorough investigation in its letter to AfDB’s Board of Directors, has queried the investigation of the bank’s ethicscommittee. It said the ethics committee of the bank did not do a proper preliminary investigation.

Finally, the bank has caved in 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.

He also raised concerns that the wholesale dismissal of all the allegations without appropriate investigation might tarnish the reputation of the financial institution, presenting it as one that does not uphold high standards of ethics .