Advertisement

‘US has belittled AfDB’ — Obasanjo, Zainab Ahmed write board

‘US has belittled AfDB’ — Obasanjo, Zainab Ahmed write board
May 28
15:08 2020
Advertisement

Former President Olusegun Obasanjo and Zainab Ahmed, the minister of finance, budget and national planning, have urged the board of the African Development Bank to ignore calls for an independent investigation of Akinwumi Adesina by the US.

Adesina, who is the president of the AfDB, was accused of favouritism and has been absolved of the allegations by the bank’s ethics committee.

In separate letters seen by TheCable, the duo urged Kaba Niale, chairman of the AfDB board of governors, to follow laid down processes to protect and preserve the bank.

“The call for an independent investigation of the president is outside of the laid down rules, procedures and governing system of the bank and its articles as it relates to the code of conduct on ethics for the president,” Ahmed wrote.

In his letter, 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.”

Obasanjo also advised that it is “critical” to emphasise the need for the AfDB to remain an “African-focused development bank rather than one which serves interests outside Africa.

RECEIVE ALERTS FROM THECABLE

WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2020 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

1 Comment

  1. AVENGER
    AVENGER May 28, 19:15

    u.s will attract wrath of Africa if it attacks Africa illegally ,u.s is becoming a useless country ,their glory have departed them

    Reply to this comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
 
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement