The African Development Bank Saga began when a 15-page report earlier this year claimed that under the President’s watch, the bank had been overrun by poor governance, lack of accountability, personal enrichment and favouritism. The Bank’s President, Akinwunmi Adesina was then subjected to the decision of an independent review panel of experts, assembled up by the AfdB Board.
The independent panel of experts, has cleared the embattled leader of the African Bank of Development (AfDB) of corruption. The panel of three experts, led by headed by former Irish president Mary Robinson, alongside Gambia’s Chief Justice Hassan Jallow and the World Bank’s integrity vice president Leonard McCarthy, cleared Adesina of all charges alleged by whistleblowers.
The report released on Monday stated: “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,” Monday’s report concluded. The back and forth of these allegations has limited the African banking institution in recent times. The AfDB plays an important if largely behind-the-scenes role in African economies, financing projects in agriculture, health, energy, education, transport and other development sectors. Hopefully, with this resolution, the bank can return to championing the development revolution in Africa.
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