BusinessDay 26 May 2020

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news you can trust I ** tuesDAY 26 may 2020 I vol. 19, no 570

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In fresh assault on top African CEOs, Trump turns gaze on Adesina SEGUN ADAMS

A

frican finance ministers who form the bulk of the Board of Governors of the African Development Bank (AfDB) have been thrown an unusual challenge by the US government which is seeking a rejection of the report of the ethics committee that investigated and cleared the institution’s head, Nigerian-born Akinwumi Adesina. US Treasury Secretary Steven Mnuchin, in a two-page letter dated May 22 and seen by BusinessDay, asked the continent’s biggest multilateral lender to set aside its ethics committee report exonerating Adesina from accusations by an anonymous group within the AfDB claiming favouritism in Nigerian appointContinues on page 6

Inside

The gloom, doom in Nigeria’s Q1’20 GDP report P. 2 Why inclusion of all countries is critical in global race for COVID-19 vaccine P. 2

Dave Umahi (m), Ebonyi State governor/chairman, Southeast Governors’ Forum, flanked by Ifeanyi Ugwuanyi (l), Enugu State governor; Hope Uzodinma, Imo State governor, and others, during a briefing after an enlarged meeting with stakeholders in Enugu. NAN

Nigeria’s power infrastructure to get urgent makeover ISAAC ANYAOGU

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igeria’s power distribution infrastructure is getting a major makeover as President Muhammadu Buhari has directed the Ministry of Finance to release to Siemens AG the government’s share of funding in the power deal agreed last year. According to an April 28, 2020

As Buhari orders payment to Siemens Lack of discipline to enforce, comply with market rules could threaten project – Experts

letter signed by Abdul Mutallab Muktar, senior special assistant to the president, and addressed to the minister of finance, bud-

get and national planning and the minister of power, seen by BusinessDay, the Finance Ministry will pay from the Signature

Bonus Account the negotiated sum of €15,206,166 (offshore works) and N1.7 billion (onshore Continues on page 6


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