Akinwumi Adesina has been re-elected as President of the Africa Development Bank AfDB for a second term of five years after the election which took place electronically at the virtual annual general meeting of the bank on Thursday August 27.
Five years ago (2015), Adesina, broke the record and became the first Nigerian to head the bank, one of the world’s five biggest multilateral lenders and an important but often unseen player in economic development.
He gained international recognition last October when the AfDB under his leadership, secured $115 billion in funding pledges, a move that doubled its capital and cemented its triple-A credit rating.
Earlier, his re-election hit a major setback after he was accused by some staff of the bank of breaching 20 of the bank’s code of conduct, including “unethical conduct, private gain, an impediment to efficiency, preferential treatment, and involvement in political activities”.
However, he denied the allegations and an investigation panel in charge of the case cleared him of all the allegations.
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