Financial analysts have said the exoneration of Akinwumi Adesina, president of the Africa Development Bank (AfDB) of all whistleblower allegations by the independent review panel led by Mary Robinson, former president of Ireland will give Nigeria good positive outlook and improved country rating.
This clears the way for Adesina, who is the sole candidate for the upcoming AfDB election scheduled later in the year to achieve his second term ambition. “The panel concurs with the committee in its findings in respect of all the allegations against the president and finds that they were properly considered and dismissed by the committee,” the report from the independent probe panel says.
Some whistleblower allegations of favouritism was been leveled against Adesina and although he had been cleared by the ethics committee of the bank, the US had requested for an independent investigation saying it was not satisfied with the report of the committee.
In a letter signed by Steven Mnuchin, its treasury secretary, the US government said it had ” deep reservations about the integrity of the committee’s process”. On June 5, Niale Kaba, chairperson of the bureau of the board of governors, said the bureau approved an indecent review of the committee’s report in the interest of due process and the “need to carry every governor along in resolving it”.
Speaking on the standards that the AfDB ethics committee used in investigating the whistleblower claims, the panel wrote in its report: “It took proper note of the criteria laid down for evaluating complaints and the sufficiency of supporting evidence.
Former President, Chartered Institute of Bankers of Nigeria (CIBN), Okechukwu Unegbu, said the US was championing the removal of Adesina, but the clearance by the independent probe panel gives a good and positive outlook for Nigeria. “In international politics, Adesina’s clearance is good for Nigeria’s global image, and since he is the only candidate for the election, the coast is now clear for his second term,” he said.
Unegbu said the bank has declared fantastic results during his five-year tenure, and there is need for consolidation of the gains to sustain Africa’s economic development.
Head Investment Research at Afrinvest West Africa Limited, Abiodun Keripe, said Adesina has done very well, and that the clearance give him a bright future at the bank.
He said that Adesina has in his first tenure raise significant for agriculture and development of African economies, saying: “Its a good one for AfDB and the expectation is that he will deliver another good one in the next five years”.
Also speaking, former Executive Director at Keystone Bank, Richard Obire, said Adesina’s exoneration by the independent review panel increases his chances of being re-elected for another five-year tenure.
He said the panel has found out there are undercurrent to nail him for allegations that are not true, adding that his clearance is good for the bank’s credibility, and the credibility of its president, Adesina.
