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Independent panel clears AfDB’s Adesina of all allegations
A three-member independent review panel led by former Irish President Mary Robinson says they are satisfied with the submissions of the internal probe carried out by the ethics committee of the African Development Bank, thus clearing the president of the bank, Akinwumi Adesina of all 16 allegations levelled against him by unidentified whistle-blowers in January this year, accusing him of unethical conduct and questionable appointments. Financial Derivatives CEO, Bismarck Rewane joins CNBC Africa for more.
Tue, 28 Jul 2020 14:33:35 GMT
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AI Generated Summary
- Adesina's exoneration sets a new standard for ethical leadership in African institutions and paves the way for continued development initiatives.
- The AfDB, under Adesina's leadership, has transformed its focus towards impactful development projects, regional integration, and economic growth in Africa.
- The exoneration of Adesina highlights the importance of transparency, integrity, and breaking stereotypes about Nigerian public officials in fostering a culture of ethical governance.
The African Development Bank (AfDB) has been at the center of a storm following the allegations of unethical conduct and questionable appointments leveled against its president, Akinwumi Adesina, earlier this year by unidentified whistle-blowers. However, a three-member independent review panel, led by former Irish President Mary Robinson, has now cleared Adesina of all 16 allegations, setting a new standard for ethical governance in African institutions.
The panel's decision comes at a crucial time, just before the bank's elections in late August. Financial Derivatives CEO, Bismarck Rewane, emphasized the importance of this exoneration in upholding transparency and ethical leadership within the AfDB. He noted that Adesina's conduct has set a high standard for others to follow, demonstrating that accusations made against him were unfounded.
Rewane highlighted the significance of the independence of the review panel's findings, stating that Adesina's exoneration paves the way for the president to potentially secure another five-year term. This development positions Adesina to continue leading the AfDB towards becoming one of Africa's foremost development agencies, focused on addressing the continent's fundamental issues.
Reflecting on the handling of the allegations and the internal investigation process within the bank, Rewane admitted that the scrutiny faced by Adesina was a consequence of the perception of corruption associated with Nigerian public officials. Despite the unfairness of the situation, the transparency and integrity displayed by Adesina throughout the process have shattered stereotypes about Nigerian leaders.
Regarding the pivotal role of the AfDB as a reputable financial institution on the continent, Rewane commended the bank's performance in raising additional capital, attaining investment-grade ratings, and positively influencing Africa's development landscape. He emphasized the institution's transformation under Adesina's leadership, shifting its focus from mere transactions to impactful development projects that address Africa's unique challenges.
Rewane underscored the importance of the AfDB's role in fostering regional integration and economic growth in Africa. With a population of over one billion people and a GDP of nearly two trillion dollars, the continent faces critical issues such as low productivity, lack of infrastructure, and insufficient trade among African nations. The AfDB, under Adesina's visionary leadership, has been instrumental in driving initiatives like the African Continental Free Trade Agreement and advancing regional integration efforts.
As Africa navigates its path towards economic liberation and global relevance, the AfDB stands as a beacon of hope, championing sustainable development and inclusivity for the continent's people. Adesina's exoneration marks a significant milestone in the bank's journey towards ethical governance and impactful development in Africa.
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