Tag Archives: Akinwunmi Adesina

AfDB: Former Liberian president Ellen Sirleaf congratulates Adesina

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A former Liberian President, Ellen Sirleaf is the latest in the list of those congratulating the President of the African Development Bank (AfDB), Dr Akinwunmi Adesina after he was cleared of corruption allegations levelled against him by an anonymous group.

Sirleaf said the declaration of Adesina as innocent, came as expected, according to a tweet on her official handle, Thursday night.

“We rejoice that, as expected, AfDB President Akinwumi Adesina has been declared fully innocent of all accusations by the Independent Panel headed by Mary Robinson,” the former Liberian leader said.

Earlier in the week, President Muhammadu Buhari had in his message to the AfDB chief, said Adesina’s exoneration is further validation of his competence and integrity to lead the institution.

The Nigerian leader said the conclusion of the review should finally draw a curtain on the allegations that created distractions for the entire institution for a period and serve as an impetus for more diligence in handling responsibilities while fuelling the zeal to deliver on the promises of a greater Africa.

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Cleared Of Corruption Charges

An independent panel of experts, headed by former Irish president Mary Robinson, on Monday completely cleared Adesina of all charges in an investigation that has spanned seven months.

A file photo of President Buhari (right) and AfDB president, Adesina.

The panel of three experts also had the Gambia’s Chief Justice Hassan Jallow and the World Bank’s integrity vice president Leonard McCarthy as members.

Dr Adesina became the first Nigerian to helm the AfDB in 2015 — but a 15-page report in January claimed that under his watch the bank had been tarred by poor governance, impunity, personal enrichment, and favouritism.

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In May, the Ethics Committee of the Board of Directors of the African Development Bank (AfDB), charged with investigating the charges cleared Adesina.

But the United States, which is one of the bank’s biggest shareholders, demanded an independent investigation into the allegations.

The outcome of that investigation was the same – Adesina was exonerated.

“The Panel concurs with the Committee in its findings in respect of all the allegations against the President and finds that they were properly considered and dismissed by the Committee,” Monday’s report concluded.


#Newsworthy…

AfDB boss, Adesina gets Buhari’s congratulatory message

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President Muhammadu Buhari has congratulated the President of the African Development Bank (AfDB), Dr Akinwunmi Adesina after he was cleared of all corruption allegations levelled against him by an anonymous group.

His exoneration, the President said, is further validation of his competence and integrity to lead the institution.

According to a statement by the Special Adviser on Media and Publicity to the President, Femi Adesina, President Buhari called on Dr. Adesina to remain steadfast as he continues to lead the institution.

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Apart from Dr. Adesina, the President also hailed AfDB’s Board of Directors, the Ethics Committee and members of staff for their courage, maturity and patience in following through the process of investigations, and acceptance of the report of independent experts, which reviewed the Report of Ethics Committee of AfDB, and Dr Adesina’s response.

Also, the President commended the eminent personalities, consisting of Mary Robinson, Justice Hassan B. Jallow, and Leonard F. McCarthy, who handled the review of the report of the Ethics Committee, and their professionalism in rejecting support services, and providing a unanimous report.

President of the African Development Bank (AfDB), Dr Akinwunmi Adesina

He believes that the conclusion of the review should finally draw a curtain on the allegations that created distractions for the entire institution for a period and serve as an impetus for more diligence in handling responsibilities while fuelling the zeal to deliver on the promises of a greater Africa.

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Adesina Cleared Of Corruption Allegations

An independent panel of experts, headed by former Irish president Mary Robinson, on Monday completely cleared Adesina of all charges in an investigation that has spanned seven months.

The panel of three experts also had the Gambia’s Chief Justice Hassan Jallow and the World Bank’s integrity vice president Leonard McCarthy as members.

Dr Adesina became the first Nigerian to helm the AfDB in 2015 — but a 15-page report in January claimed that under his watch the bank had been tarred by poor governance, impunity, personal enrichment, and favouritism.

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In May, the Ethics Committee of the Board of Directors of the African Development Bank (AfDB), charged with investigating the charges cleared Adesina.

File Photo of Dr. Akinwunmi Adesina, and President Muhammadu Buhari at the Presidential Villa in Abuja

But the United States, which is one of the bank’s biggest shareholders, demanded an independent investigation into the allegations.

The outcome of that investigation was the same – Adesina was exonerated.

“The Panel concurs with the Committee in its findings in respect of all the allegations against the President and finds that they were properly considered and dismissed by the Committee,” Monday’s report concluded.


#Newsworthy…

Just in: AfDB chief ‘cleared’ of corruption charge

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An independent panel of experts, headed by former Irish president Mary Robinson, has cleared the beleaguered leader of the African Bank of Development (AfDB) of corruption, according to a report obtained by AFP.

Akinwumi Adesina, 60, a charismatic speaker known for his elegant suits and bow ties, became the first Nigerian to helm the AfDB in 2015 — but a 15-page report earlier this year claimed that under his watch the bank had been tarred by poor governance, impunity, personal enrichment and favouritism.

The panel of three experts, led by Robinson alongside Gambia’s Chief Justice Hassan Jallow and the World Bank’s integrity vice president Leonard McCarthy, cleared Adesina of all charges alleged by whistleblowers.

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“The Panel concurs with the Committee in its findings in respect of all the allegations against the President and finds that they were properly considered and dismissed by the Committee,” Monday’s report concluded.

The African banking institution and Adesina — who is the sole candidate for the bank’s August’s presidential elections — has been battered by the rollercoaster of allegations after the whistleblowers’ complaints were leaked to the media in April.

The former Finance Minister had always stated he was “innocent” of the charges.

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Robinson — who led Ireland from 1990 to 1997 before serving as the United Nations High Commissioner for Human Rights until 2002 — dismissed the 16 whistleblower allegations against Adesina.

The panel did not investigate the charges themselves, as that was not within their mandate.

The AfDB plays an important if the largely behind-the-scenes role in African economies, financing projects in agriculture, health, energy, education, transport and other development sectors.


#Newsworthy…

AfDB vice president resign amid Adesina’s proposed ‘Probe’

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The Vice President for Agriculture, the Human and Social Development at the African Development Bank (AfDB), Dr. Jennifer Blanke, has resigned her position.

The bank’s Communications and External Relations Department made this known in a statement yesterday, saying Blanke’s resignation would take effect July 4, 2020.

She was quoted as saying: “I am leaving purely for family reasons to rejoin my family in Switzerland, after a very fulfilling time at the bank. I will miss the bank and the excellent team we have built. I will continue to strongly support the bank from wherever I am.

“I thank President Akinwumi Adesina for his strong leadership, guidance, and support which have undoubtedly motivated and helped my team and me to play a key role in the transformation of the bank. I feel privileged to have been given an opportunity to contribute to the bank’s agenda for accelerating Africa’s social and economic transformation.”

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AfDB President, Dr. Akinwumi Adesina, expressed delight to have worked with Blanke over the past three years.

“She has demonstrated genuine leadership skills and moved the needles on so many fronts, especially in the areas of food security, women’s financial empowerment, and job creations. I wish her all the best and look forward to continued partnerships and engagement with Jennifer,” Adesina said.

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The AfDB boss wished her all the best and looked forward to continued partnership and engagement with her.

Blanke joined the bank in early 2017 and has overseen a number of its programmes, according to the statement.


#Newsworthy…

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AfDB succumb – Set to allow Adesina’s probe.

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The African Development Bank has agreed to a private probe of its president, Akinwumi Adesina, even after an internal review found no evidence of misconduct.

AfDB’s decision comes as the outcome of a meeting by its Bureau of Board of Directors on Thursday.

The agreement to privately review Adesina’s conduct comes on the heels of a call by the United States, pressing for an independent probe into charges by whistleblowers.

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These charges which had been declared as unfounded by an internal inquiry, include alleged embezzlement and favoritism under Adesina’s watch, a situation which puts some pressure on the bank’s president who is bidding for a second five-year term.

Some African leaders have pledged to support Adesina, and have kicked against the probe, saying that the call negates the ethics of the AfDB.

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However, at the end of its meeting on Thursday, the Bureau of Board of Governors issued a communique, agreeing with the U.S and authorizing an independent review of the ethics committee’s report.

The communique, signed by the Chairperson of the Bureau of the Boards of Governors, Niale Kaba, reads as follows:

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“The Bureau reiterates that it agrees that the Ethics Committee of the Boards of
Directors performed its role on this matter in accordance with the applicable rule under Resolution B/BG/2008/11 of the Board of Governors.

“The Bureau also reiterates that the Chairperson of the Bureau of the Board of
Governors performed her role in accepting the findings of the Ethics Committee in accordance with the said Resolution.

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“However, based on the views of some Governors on the matter and the need to carry every Governor along in resolving it, the Bureau agrees to authorize an Independent Review of the Report of the Ethics Committee of the Boards of Directors relative to the allegations considered by the Ethics Committee and the submissions made by the President of the Bank Group thereto in the interest of due process.

“The Independent Review shall be conducted by a neutral high calibre individual with unquestionable experience, high international reputation and integrity within a short time period of not more than two to four weeks maximum, taking the Bank Group’s electoral calendar into account.

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“The Bureau agrees that, within a three to six month period and following the independent review of the Ethics Committee Report, an independent comprehensive review of the implementation of the Bank Group’s Whistle-Blowing and Complaints Handling Policy should be conducted with a view to ensuring that the Policy is properly implemented, and revising it where necessary, to avoid situations of this nature in the future.”

Adesina is yet to make any comment as regards the latest development, however, he has at other times denied that he partook of any corrupt practice.

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The AfDB President in a recent press statement described the allegations as “unprecedented attempts” by some to tarnish his reputation.

He declared that he will continue to work with each and every one of the bank’s shareholders.

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“I maintain my innocence with regard to trumped-up allegations that unjustly seek to impugn my honour and integrity, as well as the reputation of the African Development Bank,” Adesina said.

The AfDB’s latest position on the matter can be download below.


#Newsworthy…

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Jonathan, Obasanjo, Other attack US on AfDB presidency probe request


Former Presidents Olusegun Obasanjo, Goodluck Jonathan, among other ex-leaders have backed Adesina Akinwumi, the President of African Development Bank (AfDB).

The United States had called for his fresh probe despite his clearance by the Ethics Committee.

Adesina, Nigeria’s former Minister of Agriculture, had since denied all allegations against him.

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In their joint statement gathered by NobleReporters from Obasanjo’s spokesman, Kehinde Akinyemi, they said Africa is facing unprecedented challenge with the COVID-19 and that all hands must be on deck to tackle the pandemic.

The former leaders said Adesina has been doing a remarkable job in steering the organization.

They recalled that the Bank announced a $10 billion crisis response facility to support countries in Africa.

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The ex-presidents noted that AfDB successfully launched a $3 billion “Fight COVID-19 social bond, the largest ever US dollar-denominated bond in world history.

“Powered by his vision and leadership, the shareholders of the Bank from 80 countries, all approved a general capital increase of $115 billion for the Bank, the largest in its history since establishment in 1964. The Bank has been doing a lot for women, with a $3 billion fund to provide access of finance to women, supported by G7 countries and Africa”, they said.

The leaders said across the continent, the Bank’s presence and work have been highly visible and impactful.

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According to them, in less than five years, the Bank’s High 5 agenda has impacted over 333 million people, from access to electricity, food security, access to finance via the private sector, improve transport and access to water and sanitation.

They noted that AfDB has maintained its stellar AAA rating among all global rating agencies and that the shareholders have all played very important roles in supporting the Bank to achieve these impressive results.

The leaders said Adesina, “who some whistleblowers alleged to have violated the Banks’ Code of Ethics, has firmly and consistently declared his innocence of these allegations”.

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The statement stressed that governance is all about respecting and abiding by rules, laws and established governing systems of organizations.

“In the case of the AfDB, while differences may exist among parties, the best way to address them is to first respect the rules, procedures and governance structures of the Bank. To do otherwise will be tantamount to undermining the Bank and its long and hard earned reputation, and that of its President.”

They described AfDB as pride for all of Africa, and that Adesina has taken the Bank to enviable heights.

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The former leaders added that Africa is battling with COVID-19 and that the Bank and its President should not be distracted.

Ex-presidents who signed that the statement were Olusegun Obasanjo, Goodluck Jonathan, Boni Yayi, Hailemariam Desalegn, John Kufour, Joyce Banda, Joaquim Chissano, Tandja Mamadou, Mohamed Marzouki, Benjamin Mkapa, Ameenah Gurib-Fakin, Rupiah Banda, Kgalema Motlan and Jakaya Kikwete.


#Newsworthy…

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AfDB – Africa has no business borrowing, with $1.8trn pension, sovereign funds


The President of the African Development Bank (AfDB), Dr Akinwunmi Adesina, said on Tuesday that, with Africa’s $1.8 trillion in pension and sovereign wealth assets, the continent has no business borrowing from overseas sources to fund its projects.

According to him, investing in other countries’ sovereign wealth funds and going back to borrow “your own money” does not make a lot of sense. N.Rs learnt


The AfDB President, who met with Nigerian President Muhammadu Buhari at the Presidential Villa, Abuja, to discuss security issues as well as how to address the country’s infrastructure gaps, among other matters, advised governments on the continent to invest the $1.8 trillion in pension and sovereign wealth assets on the development of infrastructure in Africa.

He noted that Africa has an infrastructure gap of $68 billion to $108 billion which could be adequately addressed by utilising the $1.8 trillion accrued pension and sovereign wealth funds.


Adesina, a former Minister of Agriculture, reiterated the need for African leaders to invest in infrastructure development.

According to him, doing so would be a case of “charity begins at home,” instead of going elsewhere to seek funds for development.


The AfDB head explained that with good infrastructure, Africa would be better positioned to compete favourably with trading partners from other continents.

“Today, Africa has an infrastructure gap of about roughly $68 billion to $108 billion infrastructure financing gap. At the AfDB, we have been working so hard to close that particular gap,” Adesina stated.


“When it comes to the issue of attracting capital to do that, there are three things that I will say; first, we have to also look at home. Today, in Africa, the size of the sovereign wealth fund and pension fund and insurance pull of fund (mutual funds) is about $1.8 trillion.

“If we can just tap a little part of that, we will close very quickly the infrastructure gap that we are talking about. But, you see a lot of sovereign investment funds being invested in other sovereigns outside the continent.


“So, they become the sovereign wealth of others and then you go back and borrow back your own money; it doesn’t really make a lot of sense. I say that charity always begins at home.”

The AfDB President assured that the Bank would continue to support development on the continent, especially now that its shareholders had strengthened it with $115 billion.


Speaking on the proposed single currency for the Economic Community of West Africa sub-region, the Eco, Adesina described it as a good development for West African countries.

He noted that with the African Continental Free Trade Area Agreement (AfCFTA)coming on board, a common currency for the sub-region means it would be better placed to compete with the rest of Africa.


“I support the Eco fully,” he said, adding that the AfCTA is “the biggest thing to happen to Africa.

“That free trade area itself is worth over $3.3 trillion in terms of trade. Obviously, it’s not optimum to trade in so many currencies.

Dr Akinwunmi Adesina (Left) Muhammadu Buhari (Right)


“So, it makes common sense to have a unified currency… I support Eco greatly. I think it’s a great idea…

“But, obviously, there are a number of convergence criteria that will have to be met and I am sure that our President is talking with other presidents to be sure that they can meet those criteria and the region can be fully integrated,” he said.


#Newsworthy…