Tuesday, August 22, 2006

Re: Mike Adenuga's Donation to Obasanjo's Presidential Library

Now that is somewhat confirmed that Mike Adenuga, the embattled Nigerian C.E.O of multibillion-dollar ventures (telecoms, banking and oil & gas) has left the country following investigation by the the Economic and Financial Crimes Commission - a move that strongly suggest Mr Adenuga may be culpable of some wrong doing.

The EFCC's investigation and the subsequent and hasty exitus of Mr Adenuga brings to fore an ethical issue concerning the Obasanjo's Presidential Library project:

Would the 250 million Naira (about $30 million) Mr Adenuga donated to the Presidential Library project be returned?

Even if Mr Adenuga is found not guilty at the end of the investigations, it is ethically appropriate that the library committee returns Mr Adenuga's gift.

Given the negative-press generated- and the ethical questions raised- by the library's fund raising in May 2005, it is my assumption that the president wouldn't want to be encumbered with a belated ethical and moral issues caused by an apparently 'clean' donation that later turned dirty. Right?

Related article: LEON SULLIVAN Principles and Opportunism