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AfDB debars China Zhonghao Limited for 18 months over fraudulent deals

by Elendu Reports
May 16, 2020
in Featured, News
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AfDB  debars  China Zhonghao Limited for 18 months over fraudulent deals

The two Chinese staff of China Zhonghao who offered N100million to EFCC official

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THE African Development Bank ( ADB)  has debarred  China Zhonghao Limited,  employer of two Chinese recently arrested by operatives of the Economic and Financial Crimes Commission  (EFCC),  for offering a bribe of N100million (One Hundred Million Naira ) to one of its officers,  for 18 months, for fraudulent practices.

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A statement issued by Dele Oyewale,  EFCC Head,  Media and  Publicity 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 AfDB 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.

Oyewale said that reports available to the Commission 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.

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The EFCC arraigned Meng Wei Kun and Xui Kuoi,  two Chinese,   working with China Zhonghao Limited at the Sokoto State High Court on Friday,  on an allegation of bribery.

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