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Find all the economic and financial information on our Orishas Direct application to download on Play StoreSpeak in the "Adesina case": the United States has called for an independent investigation into allegations of prevarication against the President of the African Development Bank (AfDB), a an initiative that calls into question his re-election in August for a new term.
In a scathing letter to the pan-African development institution, obtained by AFP on Monday, US Treasury Secretary Steven Mnuchin expresses his "serious reservations" about the d The AfDB has decided to clear its Nigerian president, Akinwumi Adesina, of the serious charges brought against him by "whistleblowers": "unethical behavior, personal enrichment and favoritism", among others.
While the AfDB Ethics Committee had very quickly exonerated Mr. Adesina - in office since 2015 -, Steven Mnuchin calls for "a thorough investigation into these allegations by an external investigator ind& eacute;pendant", in her letter dated May 22, addressed to the Chair of the Board of Governors of the AfDB, the Ivorian Minister of Planning and Development Kaba Nialé.
"Considering the extent, gravity and accuracy of the allegations against the bank's only candidate for leadership for the next five years, we believe that further investigation has been born. it is necessary for the AfDB President to enjoy the full support and confidence of shareholders," the US Treasury Secretary said.
The AfDB did not react immediately.
"With this letter, the United States acts its desire to remove Adesina", the only candidate for a new five-year term, analyzes an Ivorian economist.
Former Minister of Agriculture of Nigeria, Adesina, a development specialist, had received support from the African Union and the Economic Community of West African States for his re election as head of the AfDB, one of the world's top five multilateral development banks.
The AfDB has 80 shareholder countries (54 African and 26 non-African countries, from Europe, America and Asia), the first being Nigeria. It is the only African institution rated triple A by credit rating agencies.
But "if the United States disavows Adesina, the AfDB's credibility and reputation with international investors is called into question. We cannot win a tug-of-war against the United States," said the economist.
The soap opera-like affair began in January, but was not publicly revealed until April.
A group of anonymous "whistleblowers" posing as "concerned employees of the AfDB" then draw up a real indictment against their president in a document of a fifteen pages detailing multiple accusations against Mr. Adesina, the first Nigerian to head the institution.
They accuse him of his favoritism in many appointments of senior officials, especially fellow Nigerians, and of having appointed or promoted persons suspected or convicted of fraud or corruption, or to have granted them comfortable severance pay without sanctioning them.
M. Adesina refutes these accusations en bloc. A month later, the AfDB agreed with him. Claiming "to have carried out a point-by-point examination of all the allegations contained in the complaint" of the whistleblowers, the Bank's Ethics Committee concludes that they "are not based on any objective and solid facts".
Provectors then call for an independent investigation. Until Washington followed suit.
Charismatic staff, endowed with excellent communication skills, Akinwumi Adesina, 60, has made the AfDB known in international markets, helping to attract capital for Africa's development.
The AfDB carried out a giant capital increase of $115 billion in October 2019, considered a personal success for its president.
In April, reacting promptly to the coronavirus outbreak, the AfDB announced the creation of a $10 billion fund to help African countries.
"But in his way of managing the Bank, Adesina has also made many enemies," notes the Ivorian economist.
"The president has too much power. He names whoever he wants. Too many executives have left in the last five years," said an AfDB executive on condition of anonymity, adding: "It takes a deep reform to diminish its power."
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