Former President Olusegun Obasanjo has described the United States of America call for “independent investigation” into allegations of favouritism and others against President of African Development Bank, Dr Akinwunmi Adesina as a ridicule of the bank’s governance system.
In a letter to the Board and African, Obasanjo wrote: “Unfortunately, the US government, through the US 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 called for an independent investigation.
“This is outside of the rules, laws, procedures and governance systems of the bank. The US treasury secretary disparaged the bank and ridiculed the entire governance system of the bank which has been in place since 1964.
“This is unprecedented in the annals of the African Development Bank Group. 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.”
The US Treasury Secretary had called for independent investigation into the 16 allegations after Adesina, who is seeking reelection after he was cleared by the Ethics Committee of the Board of Director and Chairman of the Board of the Governors of the bank.