Dr. Akinwunmi Adesina has been reelected for another 5-year term as the president of Africa Development Bank (AFDB).

The sole candidate for the multilateral lender was re-elected by the bank's Board of Governors at the ongoing AfDB virtual 55th annual meeting in Abidjan, Côte d’Ivoire on Thursday, August 27.

President Muhammadu Buhari’s Personal Assistant on Social Media, Lauretta Onochie confirmed the development while congratulating Adesina on her Twitter page.

Onochie wrote, “Our very own Akinwumi Akin Adesina has been reaffirmed as the President of the African Development Bank.

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“Thank you to our supportive President @MBuhari who mobilized support for our own Adesina and why not! Adesina has been proven to be above boards.”

Adesina who was first elected as the 8th AfDB president back in 2015, is the first Nigerian to serve as head of the bank group.

The head of the African bank had on Wednesday, August 26, appealed for another term in office as president.

He said: “At this Annual Meetings, I offer myself to you, our Governors, for your consideration for election for a second term, as president

"I do so, with humility. I do so with a strong sense of duty and commitment and a call to serve Africa and our Bank, selflessly, to the very best of my God-given abilities.”

Adesina's reelection is coming after he was exonerated in an independent probe of all allegations of corruption leveled against him

He was cleared of any wrongdoing by the special committee set up by governors of the AfDB. The independent panel of three was headed by Mary Robinson, the former president of Ireland.