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AFDB Scandal: Why Adesina may be re-elected as President amid corrupt allegations

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President of the African Development Bank, AFDB, Akinwumi Adesina is most likely to be re-elected despite growing allegations of corruption stacked against him.

DAILY POST recalls that recently there has been an avalanche of controversy impeaching the integrity of Adesina on weighty allegations of corruption.

Some of the allegations leveled against the embattled AFDB president by whistleblowers border on misconduct, favouritism, arbitrary recruitment, private gain, use of bank resources for private gains, impediment to efficiency and singlehandedly overruling decisions taken by directors among others.

But the AFDB Ethics committee that swung into action to unravel the truth or otherwise of the allegations had come out with certain findings that allegedly absolves Adesina of any culpability.

The report of the Ethics committee, DAILY POST learned, had dismissed each of the allegations by the whistleblowers as unsubstantiated and baseless.

The panel even called on oversight organs of the development bank such as the anti-graft, auditor-General, and Human resources, who also reportedly affirmed Adesina’s innocence.

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Besides, the whistleblowers did not provide additional evidence, facts and documents as expressly required by the panel.



The Ethics Committee having completed its work under the AFDB rules, laws, procedures and guidelines as laid down by the resolution of the Board of Governors was said to have submitted its report to the Chair of the Board of Governors and, the latter also reportedly okayed the report.

Though there is a call for an “independent investigation of the President, the Board of Governors said it was outside of the laid down rules, procedures and governing system of the bank.

Despite odds, however, some of Adesina’s accomplishments are said to be the securing of a $1115 billion General Capital Increase, the largest ever in the history of the bank, and leading the bank to develop $10 billion Crisis Response Facility for Africa in the fight against COVID-19 pandemic.

Another part of the accomplishments includes the launch of a $3billion “Fight COVID-19” Social bond, the largest US dollar-denominated Social Bond ever in World history.

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Following Adesina’s reported eminent scorecard, the African Union and ECOWAS Heads of governments have endorsed his candidacy for re-election as the Nigerian government welcomes the conclusion of the Ethics decision of the chair of the Board of Governors.

It would be recalled that the re-election of Adesina who is the sole candidate for the election as President of the African Development Bank was originally planned to be held on May 28, but has been postponed to 25-27 August.

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