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AFDB debars Chinese firm, whose staff gave N100m bribe to EFCC officer, for 18 months



AFDB debars Chinese firm, whose staff gave N100m bribe to EFCC officer, for 18 months

The African Development Bank (AFDB) has debarred China Zhonghao Limited for 18 months, for fraudulent practices. over corrupt practices.

The Chinese company is the employer of the two Chinese men arrested recently by operatives of the Economic and Financial Crimes Commission (EFCC) for offering a bribe of N100 million.

A statement on Friday by Dele Oyewale, Head, Media and Publicity for the EFCC said the company was debarred for fraudulently misrepresenting its year of incorporation, value of its reference contracts and cognate experience of its key personnel while bidding for two tenders under ADB-financed urban water supply and sanitation improvement project for Oyo and Taraba states in Nigeria.

“Debarment is the shutting out or exclusion of a company, an individual, an entity from certain rights, privileges or possessions owing to allegations of fraud, mismanagement or impropriety.

“Reports available to the EFCC showed that, AFDB’s office of Integrity and Anti-Corruption established that China Zhonghao Limited committed the fraudulent deals and debarred it from participating in projects, financed by the bank for a period of 18 months.

“Aside the 18 months exclusion from the bank-financed projects, China Zhonghao stands debarred by other multilateral development banks like the World Bank group; Asian Development Bank, European Bank for Reconstruction and Development and the Inter-American Development Bank, owing to Agreement for Mutual Enforcement of Debarment Decisions among the banks,” the EFCC statement read.

READ ALSO: EFCC arraigns 2 Chinese men who offered N100m bribe to its official

This came as the anti-graft agency on Friday arraigned Meng Wei Kun and Xui Kuoi, the two Chinese, working with China Zhonghao Limited at the Sokoto State High Court over allegation of bribery.

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