African oil-producing countries are demanding more transparency as the newly launched Africa Energy Bank begins to take shape. The bank, created to support energy projects across the continent, has raised concerns among its future shareholders — especially around how its leadership is being chosen.

To address these concerns, a special monitoring committee has been set up. Its main job is to oversee the bank’s early activities and ensure that the recruitment of its first president is fair and transparent.

Nigeria, a key member of the African Petroleum Producers’ Organization (APPO), is playing a leading role in these discussions. Along with other member countries, Nigeria wants to make sure the bank is managed properly and truly serves African interests.

Several names have come up for the role of bank president, including Ade Adeola and Gosetseone Florence Leketi. International firms like Standard Chartered and Russell Reynolds Associates are said to be involved in the hiring process, adding to the calls for openness.

The Africa Energy Bank is expected to become a major source of funding for oil, gas, and renewable energy projects across Africa. But before it can begin, its backers want to ensure the foundation is solid — built on trust, fairness, and African control.