An internal investigation is underway at the African Development Bank on abuse of office claims following reports by some employees to the institution’s Department of Ethics Committee.

The investigation is looking at the conduct at several top leaders of the institution with media reports saying that the Bank’s President Akinwumi Adesina is among those being investigated.

Among the allegations being investigated include favouritism, hindering efficiency and preferential treatment among others.

In a press statement released on Monday Morning Akinwumi A. Adesina the President of African Development Bank admitted that there were investigations underway by the Ethics Committee as part of internal review systems noting that they should be allowed to complete its review and work without interference.

He however expressed optimism that he would be vindicated and that the investigations would reveal nothing more than ‘spurious and unfounded allegations’.

"I am 100 per cent confident that due process and transparency, based on facts and evidence, will indicate that these are all nothing more than spurious and unfounded allegations,”

As investigations continue, he said he would remain the bank’s president executing his duties amid the COVID-19 pandemic.

"I will stay calm and resolute. I will not be distracted. No amount of lies can ever cover up the truth. Soon the truth will come out. I will continue to discharge my duties and responsibilities as President, with the highest level of professionalism, dedication and unshaken resolve, to lead and support the Bank’s bold mission for Africa’s accelerated development, and to help protect the continent at this time of the COVID19 pandemic, "he said.