Adesina steps aside as AfDB president for fresh probe

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Dr. Akinwumi Adesina is expected to step back as the president of African Development Bank after the board supported an independent probe as requested by the U.S.

The U.S. treasury secretary, Steven Mnuchin rejected an internal investigation that cleared Adesina of allegations of favouritism.

Bloomberg, quoting two persons familiar with deliberations on the matter reported that Africa’s largest multilateral lender decided on the inquiry after several governments backed Mnuchin.

Denmark, Sweden, Norway and Finland are among countries that wrote to the AfDB to back Mnuchin’s demands for professional outsiders to look into the allegations, sources told Bloomberg.

Adesina has repeatedly denied wrongdoing, even before the internal probe, now rejected.

But as things are, he may have to step back as the bank’s helmsman until the probe is completed.

Unidentified whistleblowers accused Adesina, 60, of handing contracts to acquaintances and appointing relatives to strategic positions.

The proposed investigation comes three months before the bank’s annual meeting, at which Adesina is the sole candidate to extend his five-year term.