Nigeria failed African Development Bank
By Abdulrazaq Hamzat

At the inception of the African Development Bank, it was agreed that at no time, will none Africans be allowed to intrude the organization so that it can focus solely on the development of Africa without foreign vested interest.

Actually, this was contained in the law establishing the bank.

As the giant of Africa and largest shareholder in the bank, Nigeria became the only country vested with veto power to safeguard the bank's mission and make tough leadership decisions.

However, in 1981, the bank's board of governors comprising of participating countries turned around, against the bank's rule to seek none Africans equity participation.

All members supported this error, except Nigeria. Actually, as the only country with veto, Nigeria was ready to use its veto to block this abberation.

But according to Nigeria's former president, Alhaji Shehu Shagari, the president of the bank threatened to resign should Nigeria veto the proposal. All participating countries also mounted pressure on Nigeria for two whole year to support the proposal.

Even some members of the cabinet in Nigeria,who were lobbied also mounted pressure on the president at home to support the proposition.

At the end, fearing that the bank may collapse should Nigeria not take the destructive, but popular route, Nigeria eventually didn't use it veto against it.

This was how the African Development Bank was killed.

I am of the opinion that, Nigeria's veto power is supposed to be used to take the most difficult action when it is absolutely important to do so.

It makes no sense to have African Development Bank that is controlled by none Africans.

Leadership is responsibility. If you cannot take decisive action and take responsibility, you have no business being in leadership.

It would have been better for Nigeria to use its veto, even if the bank would collapse. At least, it would be on record that it collapsed on principle and Nigeria took the decision it had to take, not minding the consequences.

It is even possible that the bank would have gained more strength from such action, because by that action, the imperialist would have known that there's real leadership in Africa, thereby reviewing how the continent is perceived.

But now, what is the essence of the bank when it could not even operate within its own laws, nor meet its own objectives as a result of undue interference by none Africans?

For me, if Nigeria cannot provide the kind of leadership Africa needs, there's no point pretending to do so.

Let's withdraw and focus on the country and allow those other countries deal with their own situation.

When we are better equipped to lead the process, then we can reorganize.

Abdulrazaq Hamzat

Ok

Lalasticlala front page worthy.

I can assure you this foreign investment in AfDB was masterminded before penetrating,they are the ones that made policies that almost collapsed the bank to have their ways in, the west dont want Africa succeed and here we are still struggling, if we dont start to unite now,we may never get there.

okay

Without the foriegn equity AFDB would have since gone moribund like every other African led organization ...So just because some accountability is requested we all start talking about how a mistake was made in the 80s

The AFDB is the only working world class organization the Africa has today and the reason is simple there has been accountability .. If we allow African run that place like they run their local Govts without any accountability that place would have been dead since the 80s.. Mr Adeshina is one of my favorite Nigerian administrators around , infact I have been among those clamouring for him to be made president but the allegations we read actually look very Nigerianisque, it's exactly the kind of thing plaguing us in this country and such things kill organization

I just weak for many people on NL.
What is the big the in ensuring Adesina is accountable?! This are the same people screaming Buhari is corrupt O.

SarkinYarki:
Without the foriegn equity AFDB would have since gone moribund like every other African led organization ...So just because some accountability is requested we all start talking about how a mistake was made in the 80s

The AFDB is the only working world class organization the Africa has today and the reason is simple there has been accountability .. If we allow African run that place like they run their local Govts without any accountability that place would have been dead since the 80s.. Mr Adeshina is one of my favorite Nigerian administrators around , infact I have been among those clamouring for him to be made president but the allegations we read actually look very Nigerianisque, it's exactly the kind of thing plaguing us in this country and such things kill organization

omoiyamayor:
I can assure you this foreign investment in AfDB was masterminded before penetrating,they are the ones that made policies that almost collapsed the bank to have their ways in, the west dont want Africa succeed and here we are still struggling, if we dont start to unite now,we may never get there.

Africa should take the blame on whatever is happening at the bank

SarkinYarki:
Without the foriegn equity AFDB would have since gone moribund like every other African led organization ...So just because some accountability is requested we all start talking about how a mistake was made in the 80s

The AFDB is the only working world class organization the Africa has today and the reason is simple there has been accountability .. If we allow African run that place like they run their local Govts without any accountability that place would have been dead since the 80s.. Mr Adeshina is one of my favorite Nigerian administrators around , infact I have been among those clamouring for him to be made president but the allegations we read actually look very Nigerianisque, it's exactly the kind of thing plaguing us in this country and such things kill organization

The problem is in your mind, not in the brain

Magicians:
I just weak for many people on NL.
What is the big the in ensuring Adesina is accountable?! This are the same people screaming Buhari is corrupt O.

Accountable to who?

The ethic proceedure of the bank has done everything required by law and he has come out clean.

What they are currently asking for is a violation of the law and you think you are making sense when you support the violation of the law

bilms:



The problem is in your mind, not in the brain

Gerrout keep fooling yourself

SarkinYarki:


Gerrout keep fooling yourself

That's the manifestation of the problem

bilms:
Nigeria failed African Development Bank
By Abdulrazaq Hamzat

At the inception of the African Development Bank, it was agreed that at no time, will none Africans be allowed to intrude the organization so that it can focus solely on the development of Africa without foreign vested interest.

Actually, this was contained in the law establishing the bank.

As the giant of Africa and largest shareholder in the bank, Nigeria became the only country vested with veto power to safeguard the bank's mission and make tough leadership decisions.

However, in 1981, the bank's board of governors comprising of participating countries turned around, against the bank's rule to seek none Africans equity participation.

All members supported this error, except Nigeria. Actually, as the only country with veto, Nigeria was ready to use its veto to block this abberation.

But according to Nigeria's former president, Alhaji Shehu Shagari, the president of the bank threatened to resign should Nigeria veto the proposal. All participating countries also mounted pressure on Nigeria for two whole year to support the proposal.

Even some members of the cabinet in Nigeria,who were lobbied also mounted pressure on the president at home to support the proposition.

At the end, fearing that the bank may collapse should Nigeria not take the destructive, but popular route, Nigeria eventually didn't use it veto against it.

This was how the African Development Bank was killed.

I am of the opinion that, Nigeria's veto power is supposed to be used to take the most difficult action when it is absolutely important to do so.

It makes no sense to have African Development Bank that is controlled by none Africans.

Leadership is responsibility. If you cannot take decisive action and take responsibility, you have no business being in leadership.

It would have been better for Nigeria to use its veto, even if the bank would collapse. At least, it would be on record that it collapsed on principle and Nigeria took the decision it had to take, not minding the consequences.

It is even possible that the bank would have gained more strength from such action, because by that action, the imperialist would have known that there's real leadership in Africa, thereby reviewing how the continent is perceived.

But now, what is the essence of the bank when it could not even operate within its own laws, nor meet its own objectives as a result of undue interference by none Africans?

For me, if Nigeria cannot provide the kind of leadership Africa needs, there's no point pretending to do so.

Let's withdraw and focus on the country and allow those other countries deal with their own situation.

When we are better equipped to lead the process, then we can reorganize.

Abdulrazaq Hamzat

Nice write up. Keep it up �.

If you say a bank is African Development Bank, why have US shareholders and other foreign countries. Why can't Africans establish an institution, run it independently abs make their own decision.

The entire structure is flawed from the start. Others countries can contribute if they wish but not join the organisation as members. If this incident does not teach Africans to own their institutions, I wonder what will.

SarkinYarki:


Gerrout keep fooling yourself

when will you stop asslicking America? do you think this will get you America visas?why must wil bend rule for America?is she the only shareholder in afdb?they have followed laid land procedure and the man was found guilty of none of those allegations. why must they do something against the bank rule to please your Lord and Savior America? you ipob terrorist will not stop amazing me with the way you are displaying your stupidity on every threads.

bilms:
Nigeria failed African Development Bank
By Abdulrazaq Hamzat

At the inception of the African Development Bank, it was agreed that at no time, will none Africans be allowed to intrude the organization so that it can focus solely on the development of Africa without foreign vested interest.

Actually, this was contained in the law establishing the bank.

As the giant of Africa and largest shareholder in the bank, Nigeria became the only country vested with veto power to safeguard the bank's mission and make tough leadership decisions.

However, in 1981, the bank's board of governors comprising of participating countries turned around, against the bank's rule to seek none Africans equity participation.

All members supported this error, except Nigeria. Actually, as the only country with veto, Nigeria was ready to use its veto to block this abberation.

But according to Nigeria's former president, Alhaji Shehu Shagari, the president of the bank threatened to resign should Nigeria veto the proposal. All participating countries also mounted pressure on Nigeria for two whole year to support the proposal.

Even some members of the cabinet in Nigeria,who were lobbied also mounted pressure on the president at home to support the proposition.

At the end, fearing that the bank may collapse should Nigeria not take the destructive, but popular route, Nigeria eventually didn't use it veto against it.

This was how the African Development Bank was killed.

I am of the opinion that, Nigeria's veto power is supposed to be used to take the most difficult action when it is absolutely important to do so.

It makes no sense to have African Development Bank that is controlled by none Africans.

Leadership is responsibility. If you cannot take decisive action and take responsibility, you have no business being in leadership.

It would have been better for Nigeria to use its veto, even if the bank would collapse. At least, it would be on record that it collapsed on principle and Nigeria took the decision it had to take, not minding the consequences.

It is even possible that the bank would have gained more strength from such action, because by that action, the imperialist would have known that there's real leadership in Africa, thereby reviewing how the continent is perceived.

But now, what is the essence of the bank when it could not even operate within its own laws, nor meet its own objectives as a result of undue interference by none Africans?

For me, if Nigeria cannot provide the kind of leadership Africa needs, there's no point pretending to do so.

Let's withdraw and focus on the country and allow those other countries deal with their own situation.

When we are better equipped to lead the process, then we can reorganize.

Abdulrazaq Hamzat

Leadership is not dictatorship...

Nigerians are used to nepotism, winner-takes-all mentality and man-know-man politics that buhari, osinbanjo and other local politicians. They don't care about meritocracy which is what great institutions are built on.

Adeshina should have known better but he carried that mentality to the AFDB which co-owned by Africans, Americans, European etc. Now his head will be used to break coconut and serve as a lesson to nigerians.