By Mr George (United States)
The United States (US), Sweden, Denmark, Finland and some other external partners of the AfDB have expressed reservations about the integrity of an earlier committee that investigated Adesina for alleged violation of ethics of the bank. Nigeria has however expressed that launching a different – independent investigation into the 16-count allegations against him amounted to undermining the rules and procedures governing the continental bank.
The FG went further went on to say that “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 systems of the bank.
“If there are any governance issues that need improvement, these can be considered and amendments proposed for adoption in line with laid down procedures,” Nigeria’s minister of Finance, Budget and National Planning, Zainab Ahmed, said in a letter she wrote to the chairman of the Board of Governors of the African Development Bank Group, Niale Kaba.
The statement by the Federal government went on to say that, “Adesina has delivered impactful programmes and impressive results” at the bank and one of his major accomplishments is securing a General Capital Increase of $115 billion, the largest ever in the history of the bank.”
Recalling his unending fight to curb the coronavirus pandemic, Adesina led the bank to develop a $10 billion Crisis Response Facility for Africa. Apart from that, Adesina also led the bank to launch a $3 billion “Fight COVID19” social bond, the largest US dollar-denominated social bond ever in world history.
It is is however no doubt that Adesina has done well at AfDB growing the bank and its abilities to great heights .
However, I believe we now have the same situation as like FIFA a few years ago. Blatter had done well for fifa and was going for another term as a shoo-in – that’s when the US which always had the “goods” on him and other fifa board members decided enough was enough .
The rest as we know is history.
This is just my speculation, I believe the US has the “goods” on adeshina and we will see things unravel as the “independent” probe goes ahead.
Note while the US actions are without precedent in the bank history ,they are not unwarranted or illegal.
In corporate practice a shareholder (large one for that matter as the US) can call for an independent of management (Adesina).
Note also Adeshina is seemingly wary of the independent audit.
While the ultimate plans and intentions of the US for the AfDB may not be for the greater good of Africa- adeshina by hiring people close or known to him has already breached precepts of corporate best practice.
Like Caesars wife , one must be always above board when dealing with matters outside ones home.
