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    MarketForces Africa » MarketForces News » AfDB: Independent Review Panel exonerates Adesina

    AfDB: Independent Review Panel exonerates Adesina

    Julius AlagbeBy Julius AlagbeJuly 28, 2020Updated:October 15, 2025 News No Comments2 Mins Read
    AfDB: Independent Review Panel exonerates Adesina
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    AfDB: Independent Review Panel exonerates Adesina

    The Independent Review Panel set up by the Bureau of Governors of the African Development Bank (AfDB), has exonerated President of the Bank, Dr Akinwumi Adesina of any ethical wrongdoings.

    This is contained in the panel’s report made available to the News Agency of Nigeria (NAN) on Tuesday.

    The Independent Review Panel was constituted following a complaint by the United States, to review the process by which two previous organs of the Bank – the Ethics Committee of the Board, and the Bureau of the Board of Governors had previously cleared Adesina.

    The three-member Independent Review Panel was headed by Mary Robinson, who is a former President of the Republic of Ireland, a former United Nations High Commissioner for Human Rights.

    Other members were the Chief Justice of the Supreme Court of Gambia, Mr Hassan  Jallow and Mr Leonard  McCarthy, a former Director of Public Prosecutions, and a former Director for the Office of Serious Economic Offences.

    The report of the Independent Review Panel stated that it concurred with  the Ethics Committee in  its  findings  in  respect  of  all  the  allegations  against  the President  and  found  that  they  were  properly  considered  and  dismissed.

    The panel added that it had considered  Adesina’s submissions on their face and found them consistent with his innocence as well as to be persuasive.AfDB: Independent Review Panel exonerates Adesina

    A senior management staff at the Bank who pleaded anonymity, said the conclusions of this review panel were decisive and had now cleared the way for Governors of the Bank to re-elect Adesina to a second five-year term as President during annual meetings of the Bank scheduled for August 25-27. Read Also: AfDB’s Board of Governors deny asking Adesina to step down

    In January, 16 allegations of ethical misconduct were leveled against Adesina by a group of whistle-blowers.

    The allegations which were reviewed by the Bank’s Ethics Committee of the Board of Directors in March, were described as “frivolous and without merit.”

    The findings and rulings of the Ethics Committee were subsequently upheld by the apex Bureau of the Board of Governors in May, which cleared Adesina of any wrongdoing.

    AfDB: Independent Review Panel exonerates Adesina

    AfDB
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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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