Fiduciary standards: BOAD has adopted new policies to combat corruption and fraud as part of its operations and protect whistleblowers.
The Board of Directors of the West African Development Bank (BOAD), at its 113th ordinary meeting held on 20 June 2019, approved the Bank’s policies in the area of (i) prevention and fight against corruption and fraud as part of its operations and (ii) whistleblower protection.
The policy to prevent and fight against corruption and fraud is to help the Bank to efficiently combat fraud and corruption. It sets out the basic rules and approach of BOAD as well as the responsibilities of stakeholders in the area; identifies means to mitigate fraud risks in the Bank’s key areas of activities; and sets the rules for investigations and sanctions.
The whistleblower protection policy aims to give assurance that whistleblowers of alleged cases of fraud and corruption, if they act in good faith, will be protected from retaliation while protecting those involved as well.
The adoption of these two policies shows the institution’s commitment to promote and adhere to standards of integrity and accountability as part of its development finance mission by applying zero tolerance to cases of fraud and corruption in its daily activities and operations supported.
In addition to those two texts mentioned above, the mechanism for preventing and combating fraud and corruption includes, inter alia:
- texts and procedures governing anti-fraud and anti-corruption activity: staff code of ethics, staff rules and regulations, code of ethics applicable to the President and the Vice-President, Directors’ charter;
- a prevention mechanism for addressing, among other things, any anti-corruption and anti-fraud issues and conducting education and sensitization actions within the Bank and the WAEMU member countries;
- an investigation bureau run by certified investigators, tasked with investigating, under the responsibility of a commissioner for inquiries, alleged cases of fraud and corruption received;
- a sanctions bureau run by a commissioner for sanctions, tasked with proposing punitive measures to be imposed following the investigations conducted;
- appeal and redress bodies for further appeals of sanction decisions delivered in first instance.
To allow every staff member or third parties (partners and stakeholders) to confidentially and anonymously report (if he/she so desires) on a situation deemed inappropriate or inconsistent with principles, rules and regulations applicable within BOAD, a whistleblowing mechanism operating round the clock has been set up to receive allegations of corruption and/or fraudulent practices:
- through a confidential written report to the following address:
Commissaire des Enquêtes, S/c Contrôle Général/BOAD
- by filling a whistleblower form on BOAD website at boad.org
- by toll-free hotline: (+228) 80 00 00 09
- by fax: (+228) 22 23 25 78
- by email at: email@example.com
- in person – to the BOAD Commissioner for Inquiries, at 68, avenue de la Libération – Lomé-Togo- 5ème étage- nouveau bâtiment- Bureau 556
For more information, please contact
Direction de la Communication, du Marketing, des Relations Publiques et du Savoir
Tel: +228 22 23 25 65
Fax: +228 22 23 24 38