US belittle African Development Bank- Obasanjo

The former President of Nigeria, his Excellency Olusegun Matthew Obasanjo on Thursday called on the Board of Governors of African Development Bank to ignore the call by US to further probe the President of African Development Bank Adewumi Adesina by Independent Investigation Committee.

In his usual manner, Obasanjo will not folds his hands when things are not going well. Obasanjo in his well worded letter urged the Board of the African Development Bank to disregard calls for an independent investigation of Akinwunmi Adesina by US.

In the letter Obasanjo wrote;

"Unfortunately, the US government through the US Treasury Secretary, has written a public letter ( that was also distributed to the press globally) to disagree with the conclusions of the Ethics Committee of the Board of Directors and the Chairman of the Board of Governors of the Bank. Instead of accepting the exoneration of the President of the Bank, they called for an independent investigation"

"This is outside of the rules, laws, procedures and governance system of the Bank. The US Treasury Secretary disparaged the bank and ridiculed the entire governance system of the Bank which has been in place since 1964"

"This is unprecedented in the annals of the African Development Bank Group. If we do not rise and defend the AFDB, this might means the end of the African Development Bank as its governance will be hijacked away from Africa"

Obasanjo also advised that it is 'critical' to emphasise the need for the AFDB to remain an "African-focused Development Bank rather than one which serves interest outside Africa"

Recall that Akinwunmi Adesina who is the President of the African Development Bank was accused of favouritism by some group of Staff of the Bank and he has been absolved if the allegations by the Bank's Ethics Committee.

Obasanjo urged Kaba Niale, the Chairman of the African Development Bank Board of Governors to follow laid down processes to protect and preserve the Bank.