Adesina re-elected as AfDB President

Akinwumi Adesina has been re-elected as President of the Africa Development Bank by its Board of Governors.

Presidential spokeswoman, Lauretta Onochie confirmed the news in a congratulatory tweet on Thursday.

The AfDB is currently holding its 55th Annual Meetings in Côte d’Ivoire virtually, due to COVID-19 restrictions.

Adesina’s re-election was earlier mired in controversy after he was charged with alleged ethical violations.

But, after repeated investigations, the former Nigerian Agriculture Minister was cleared of all charges levelled against him, paving the way for his re-election.

Adesina is the first Nigerian to hold the post of the bank’s President.

The AfDB, founded in 1964, is geared towards spurring “sustainable economic development and social progress” among member African countries.

Nigeria is the AfDB’s largest shareholder with 16.8 percent of rights, while Germany and the United States own 7.4 percent and 5.5 percent respectively.