On May 28, 2015, precisely 24 hours after his term as Minister of Agriculture ended in Nigeria, Dr. Akinwumi Adesina was elected President of the African Development Bank Group (AfDB) or Banque Africaine de D\u00e9veloppement (BAD). Founded in 1964, it comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust
On May 28, 2015, precisely 24 hours after his term as Minister of Agriculture ended in Nigeria, Dr. Akinwumi Adesina was elected President of the African Development Bank Group or Banque Africaine de Développement . Founded in 1964, it comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund, with a mandate to eradicate poverty and improve the lives of Africans.
Indeed, during Adesina’s first term, the bank saw a huge rise in assets, which comprised the largest capital increase in its annals with a capital base of $208billion. In 2018, the bank floated the Africa Investment Forum in Johannesburg, a gainful plan of action, with the sole aim of attracting massive investment into Africa. Investors were drawn from the private sector, sovereign wealth funds, pension, government. At the end of the forum, an humongous sum of $38.
Adesina has been under investigation by the Office of Integrity and Anti-Corruption as well as the Ethics Committee and Audit and Finance Committee.
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