African Development Bank allegations: Don’t let Adesina be rubbished, Obasanjo writes African leaders

Nigerian former President, Olusegun Obasanjo, has called on African leaders on the important need to rally round in defence of Akinwunmi Adesina, the President of African Development Bank, from being victimised.

Penpushing reports that, Obasanjo in a letter dated May 26, in reaction to allegation levelled against Adesina, emphasised that failure to rally round Adesina, might mean the end of the bank, while its governance may be hijacked

‘If we do not rise up and defend the African Development Bank, this might mean the end of the African Development Bank, as its governance will be hijacked away from Africa,”  Obasanjo wrote.

The former President told the African leaders that Adesina has taken the bank to a great height since he took over leadership of the African Development Bank in the last five years and should not be victimised.

The known frankly speaking Obasanjo declared that the bank, under Adesina, “has been actively positioned as an effective global institution ranked fourth globally in terms of transparency among 45 multilateral and bilateral institutions

“As Africa faces COVID-19, Dr Adesina again took bold measures to ensure the bank can respond proactively to support African countries and got its board of directors to approve a $10 billion crisis response facility to support African countries, Obasanjo said.

“In addition, the bank successful launched a $53 billion ‘Fight COVID-19’ social impact bond on the international capital market, secured at 0.75 per cent interest rate”, the former President emphasized

Penpushing also reports that, Obasanjo explained that, the outstanding performances of the bank under Adesina  “made all the heads of state and governments of ECOWAS region to endorse him for second term.”

The former President emphasized the need for his fellow (African) leaders to write a joint statement and “make sure that they follow laid down processes to protect and preserve the bank’, and also kicked against the “introduction of alien practices being recommended by some parties given that such recommendation falls outside the laid down procedures, laws, rules and regulations of the bank.”

Penpushing further reports that Obasanjo noted that despite the great feat recorded by Adesina, “the United States Government, through the U.S.Treasury Secretary, has written a public letter (that was also distributed to the press globally) to disagree with the conclusions of the ethics committee of the board of directors and the chairman of the board of governors of the bank.”

“Instead of accepting the exoneration of the president of the bank, they (U.S.) called for an independent investigation. This is outside of the rules, laws, procedures and governance systems of the bank. The U.S. Treasury Secretary disparaged the bank and ridiculed the entire governance system of the bank which has been in place since 1964.”

Penpushing reports the Nigerian born President of the African Development Bank is currently battling 16 allegations  of impropriety and fraud levelled against him by a group, which the board of Directors had dismissed and given him a clean bill of health, but  United States of America(USA) is insisting on a further probe