AfDB: Nigeria increases its shares ahead of Adesina’s re-election



AfDB: Nigeria increases its shares ahead of Adesina’s re-election

As the re-election of the President of African Development Bank (AfDB), Akinwumi Adesina draws closer, Nigeria has increased its shares in ownership of the Bank.

Nigeria, according to a report by Bloomberg now owns 16.8% of the shares of the Bank, from 13% prior to this new acquisition.

READ  Arsenal vs Liverpool: Arteta, Klopp starting XI for Community Shield confirmed

Germany is the closest with 7.4% ownership, followed by the United States with 5.5%.

The re-election of Adesina will take place on the 25th of August during the annual meetings of the Bank scheduled for the 25th-27th of August.

Adesina is having no one to challenge his re-election for another 5years tenure, although he recently survived an inquiry, following pressures from the United States government.

READ  Minimum Wage: Ogun Workers Threaten Strike, Give Abiodun 14-Day Ultimatum

Whistleblowers had accused Akinwumi of giving contracts to friends and appointing friends to senior positions.

A panel of three experts was set up, consisting of Ireland’s ex-President Mary Robinson, Gambian Chief Justice Hassan Jallow and Leonard McCarthy, formerly the World Bank’s integrity vice-president. The panel backed the finding of the internal ethics committee that cleared Akinwumi of any wrongdoing.

READ  How Ogun serial killer was gunned down [VIDEO]

The increase in shares will give Nigeria more voting rights in the Bank.



Share this post with your Friends on




About admin 3296 Articles
Naijamediamp3 Is Owned And Launched By Oyetoro Jeremiah A.K.A Jayking; Jayking is a passionate Writer, Online Promoter and a Website Developer, who loves to talk about things exactly as they are
No Comments Yet Drop a Comment

Drop your Comment