Alleged Contract Fraud: “I Won’t Step Down as AfDB President”…Akinwunmi Adesina 

Alleged Contract Fraud: "I Won't Step Down as AfDB President"...Akinwunmi Adesina 

Akinwunmi Adesina

A former spokesman for the African Development Bank said Dr. Akinwumi Adesina will not step back as the president of the bank after the board supported an independent probe as requested by the U.S.

In a Facebook post, Dr Victor Oladokun, former Communications and External relations Director of the bank said Adesina will not step down as president of the bank.
“Akinwunmi Adesina has not stepped down and is still President of the African Development Bank, Africa’s premier development finance institution”.
Bloomberg had reported earlier today that Adesina would step aside to allow a fresh probe into the 15 allegations of improprieties levelled against him by a whistleblower.
The U.S. treasury secretary, Steven Mnuchin had rejected an internal investigation that cleared Adesina of the allegations.
Bloomberg, quoting two persons familiar with deliberations on the matter reported that Africa’s largest multilateral lender decided on the inquiry after several governments backed Mnuchin.
Denmark, Sweden, Norway and Finland are among countries that wrote to the AfDB to back Mnuchin’s demands for professional outsiders to look into the allegations, sources told Bloomberg.
Adesina has repeatedly denied wrongdoing, even before the internal probe, now rejected. Today, he also issued a statement declaring he is innocent.
“I am confident that fair, transparent and just processes that respect the rules, procedures and governance systems of the bank, and the rule of law, will ultimately prove that I have not violated the code of ethics of this extraordinary Institution”.
His statement did not indicate that he will step aside for the investigation to hold.
Unidentified whistleblowers accused Adesina, 60, of handing contracts to acquaintances and appointing relatives to strategic positions.
The proposed investigation comes three months before the bank’s annual meeting, at which Adesina is the sole candidate to extend his five-year term.
The AAA-rated lender’s 80 shareholders in October pledged to provide funding that will help to more than double its capital base to $208 billion.