Adesina elected president of African Development Bank for second term

The board of the African Development Bank (AfDB) has elected Akinwunmi Adesina as the bank’s president for another 5-year term.

The election which took place virtually at the bank’s annual general meeting was said to be conducted for formality sake as he emerged unopposed.

Adesina had on Wednesday appealed to be re-elected as the bank’s president for the second time saying his request was with an acute sense of duty and commitment.

“I do it to serve Africa and our bank, in an unbiased way, to the best of the abilities that God has given me,” he said, according to a statement issued by the bank.

Adesina who became the first Nigerian President of the bank in 2015, was recently accused of corruption and poor governance that ended after he was cleared in an independent probe.

He gained continent-wide recognition last October when the AfDB secured $115 billion (105 billion euros) in funding pledges, a move that doubled its capital and cemented its triple-A credit rating.