U.N. Secretary-General Kofi Annan was criticized after investigators started probing the UN’s oil-for-food programme in Iraq, which was said to ignore a conflict of interest involving Annan’s son.

Paul Volcker, the former U.S. Federal Reserve chairman who held an independent check out of oil-for-food program, released a report concerning U.N. Secretary-General and his son, Kojo, who was an employee of the Swiss firm Cotecna, which received a significant U.N. contract in January 1999 to inspect goods in Iraq.

Nevertheless Kofi Annan is not accused of any personal wrongdoing.

One official said, "He’s not going to be implicated in corruption in any form whatsoever."

"What we have been saying from beginning is that this contract for Cotecna was issued according to standard U.N. procurement practices," said U.N. spokesman Fred Eckhard.

Kojo Annan continued earning $2,500 after the end of 1999 and didn’t reveal that until February 2004 in return for not working in Cotecna competitors in West Africa.

Kofi Annan commented that he was not informed about these activities of his son.