{"id":15156,"date":"2020-05-25T10:24:02","date_gmt":"2020-05-25T10:24:02","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=15156"},"modified":"2020-05-25T10:24:08","modified_gmt":"2020-05-25T10:24:08","slug":"u-s-treasury-insists-on-independent-probe-of-afdbs-adesina","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=15156","title":{"rendered":"U.S. Treasury insists on independent probe of AfDB\u2019s Adesina"},"content":{"rendered":"\n
\"Adesina<\/figure>\n\n\n\n

U.S. Treasury Secretary Stephen Mnuchin has resisted attempts by the African Development Bank\u2019s (AfDB\u2019s)<\/a> board to stop an investigation into its president, Akinwunmi Adesina, and requested an independent inquiry into the indictments against him, Bloomberg said on Sunday.<\/p>\n\n\n\n

Mnuchin stated in a letter addressed to Niale Kaba, chair of AfDB\u2019s board of governors, and dated 22nd May that the Treasury rejects the findings by the ethics committee of the bank that \u201ctotally exonerated\u201d Mr Adesina.<\/p>\n\n\n\n

However, Kaba confirmed receipt of the letter but refused to make additional comment.<\/p>\n\n\n\n

The involvement of the U.S. Treasury, which owns the largest non-African stake in the bank, is coming a fortnight after the ethics committee claimed it found no proof to back accusations of favouritism against the AfDB president.<\/p>\n\n\n\n

Adesina, who has consistently denied the allegations, is the sole contender for the election into the AfDB\u2019s presidency, timed to hold at its annual general meeting this August.<\/p>\n\n\n\n

\u201cWe have deep reservations about the integrity of the committee\u2019s process. Instead, we urge you to initiate an in-depth investigation of the allegations using the services of an independent outside investigator of high professional standing,\u201d Mnuchin said.<\/p>\n\n\n\n

Adesina had been accused by some anonymous informants of granting contracts to cronies and offering strategic jobs to relatives at the bank.<\/p>\n\n\n\n

<\/ins><\/p>\n\n\n\n

\u201cConsidering the scope, seriousness, and detail of these allegations against the sole candidate for bank leadership over the next five years, we believe that further inquiry is necessary to ensure that the AfDB\u2019s president has broad support, confidence, and a clear mandate from shareholders,\u201d said Mnuchin.<\/p>\n\n\n\n

U.S. disapproval with AfDB\u2019s internal operations is emerging as a result of the remark by David Malpass, World Bank\u2019s President, in February that multilateral lenders such as AfDB are inclined to offer credit facilities rather too quickly and, by so doing, increase the debt burden of African nations.<\/p>\n\n\n\n

The AfDB dismissed the claim as \u201cinaccurate and not fact-based.\u201d<\/p>\n\n\n\n

The AfDB, Africa\u2019s biggest multilateral lender, offered a $3 billion social bond to enable African economies combat the adverse impact of the coronavirus pandemic<\/a> in March.<\/p>\n\n\n\n

Bids for the debt instrument were over $4.6 billion on the London money market. It also instituted a crisis-response facility worth $10 billion for African countries<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. Treasury Secretary Stephen Mnuchin has resisted attempts by the African Development Bank\u2019s (AfDB\u2019s) board to stop an investigation into its president, Akinwunmi Adesina, and requested an independent inquiry into the indictments against him, Bloomberg said on Sunday. Mnuchin stated in a letter addressed to Niale Kaba, chair of AfDB\u2019s board of governors, and dated 22nd May […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[11],"tags":[],"yoast_head":"\nU.S. Treasury insists on independent probe of AfDB\u2019s Adesina » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=15156\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=15156#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"World News\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=11\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"U.S. Treasury insists on independent probe of AfDB\u2019s Adesina\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"U.S. Treasury insists on independent probe of AfDB\u2019s Adesina » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=15156","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=15156#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"World News","item":"https:\/\/watchdogplusmedia.com\/?cat=11"},{"@type":"ListItem","position":3,"name":"U.S. Treasury insists on independent probe of AfDB\u2019s Adesina"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=11\" rel=\"category\">World News<\/a>","rttpg_excerpt":"U.S. Treasury Secretary Stephen Mnuchin has resisted attempts by the African Development Bank\u2019s (AfDB\u2019s) board to stop an investigation into its president, Akinwunmi Adesina, and requested an independent inquiry into the indictments against him, Bloomberg said on Sunday. Mnuchin stated in a letter addressed to Niale Kaba, chair of AfDB\u2019s board of governors, and dated 22nd May…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/15156"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15156"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/15156\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}