• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

AfDB board denies asking Adesina to step down, as Obasanjo says the bank risks being hijacked

Chike Olisah by Chike Olisah
May 29, 2020
in Business News, Politics
AfDB partners DFID to unveil $80m infrastructure financing for Africa, ADB launches $3 billion “Fight COVID-19” Social Bond, US calls for an independent probe of AfDB president, Akinwumi Adesina, AfDB board denies asking Adesina to step down as Obasanjo says the bank risks being hijacked
Share on FacebookShare on TwitterShare on Linkedin

The Bureau of the Board of Governors of the African Development Bank (AfDB) has denied media reports making the rounds that AfDB’s president, Akinwumi Adesina, has been asked to step down pending the completion of the probe and determination of allegations against him.

The bank’s top governing board members said that they have not asked Adesina to step down from his position as president, even as the board continues to review the fallout of complaints by some whistleblower. The statement from the Chairman of the bank’s board of governors, Niale Kaba, said:

“The Bureau of the board of governors informs the public that it has not taken any decision. Everyone must allow the Bureau to do its work and allow due process to reign. All governors will be carried along in resolving the issue.’’

RelatedStories

Trump hosts exclusive dinner for top meme coin investors amid controversy 

AU expresses concern over impact of Trump’s travel ban, says measure affects US-Africa diplomatic relations 

June 5, 2025
Wale Edun pushes finance ministry directors to deliver 7% GDP growth 

FG to concession major national projects to repay loans – Finance minister 

May 30, 2025

READ ALSO: IMF advises banks to suspend dividend payment

Kaba also stressed that there was no governance crisis at AfDB as was being speculated in certain quarters. He confirmed that the Bureau of the Board of Governors of AfDB met on Tuesday, May 26, after the request by the U.S Secretary calling for an independent probe. The essence of the meeting was to take a closer look at the allegations by the whistleblowers against Akinwumi Adesina, said allegations which had already been investigated by the ethics committee of the bank.

Kaba further disclosed that even though no decision has been taken yet, the bureau assures that it is treating the case with the utmost seriousness that it deserves.

(READ MORE:  AfDB bows to pressure from U.S, orders an independent probe of Akinwumi Adesina)

Adesina, who maintains his innocence of those allegations, had stated that a fair, transparent, and just process will vindicate him.

In a related development, former Nigerian President Olusegun Obasanjo had thrown his weight behind Adesina and kicked against the demand by the United States of America for a fresh, independent probe of the AfDB President who had earlier been cleared by the ethics committee of the bank.

In his letter to 12 former African Presidents, Obasanjo said that Africa must stand up and not allow its institutions to be unduly controlled by non-African countries.

Obasanjo said that the bank has witnessed tremendous growth under Adesina’s leadership and has doubled its capital base since he took over.


Follow us for Breaking News and Market Intelligence.
Tags: AfDBAfrican UnionAkinwumi AdesinaBusiness NewsNigeria NewsPresident Olusegun Obasanjo
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

Trump hosts exclusive dinner for top meme coin investors amid controversy 
Business News

AU expresses concern over impact of Trump’s travel ban, says measure affects US-Africa diplomatic relations 

June 5, 2025
Wale Edun pushes finance ministry directors to deliver 7% GDP growth 
Economy

FG to concession major national projects to repay loans – Finance minister 

May 30, 2025
Ex-Mauritania’s minister Dr. Sidi Ould Tah elected AfDB president to succeed Akinwumi Adesina 
Breaking News

Ex-Mauritania’s minister Dr. Sidi Ould Tah elected AfDB president to succeed Akinwumi Adesina 

May 29, 2025
AfDB, AI
Economy

AfDB flags Nigeria’s rising debt costs: 75% of revenue goes to interest payments 

May 29, 2025
AfDB enters a $1bn exposure exchange agreement with Asian Development Bank
Economy

AfDB projects $39.84 billion decline in foreign funding to Africa by 2025 amid aid cuts 

May 29, 2025
Nigeria’s GDP per capita falls to $824, worse than 1960 levels – AfDB President Adesina
Business News

Presidency disputes AfDB President Adesina’s claim that Nigerians are worse off now than in 1960 

May 5, 2025
Next Post
Ethereum,Ethereum Whales Cumulative Holdings Touch 10 Months High, ETH Passes $220, Ethereum wallets holding at least 0.1 ETH just crossed the 3 million mark for the first time

Ethereum Whales cumulative holdings touch 10-months high, ETH passes $221

Comments 1

  1. ofoezie emmanuel says:
    May 30, 2020 at 8:14 am

    There are no serious basis for heeding US call for an independent inquiry! The ethics committee has a ruling which Africa must accept and move forward! Dr. Kasie

    Reply

Leave a Reply Cancel reply

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

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Owners and promoters of the 10 most expensive private universities in Nigeria 
  • See 10 largest restaurant food chains spreading across Africa 
  • NGX Chairman Umaru Kwairanga eyes Dangote Petrochemicals, NNPC listings in 2025 

Follow us on social media:

Recent News

Owners and promoters of the 10 most expensive private universities in Nigeria 

Owners and promoters of the 10 most expensive private universities in Nigeria 

June 7, 2025
See 10 largest restaurant food chains spreading across Africa 

See 10 largest restaurant food chains spreading across Africa 

June 7, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics