The African Development Bank (AfDB) and other international financial institutions have reportedly debarred China Zhonghao Nigeria Limited. The firm was debarred from participating in projects financed by the bank for a period of 18 months. Debarment is the shutting out or exclusion of a company, an individual, an entity from certain rights, privileges or possessions
The African Development Bank and other international financial institutions have reportedly debarred China Zhonghao Nigeria Limited.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.
The spokesman said reports available to the EFCC showed that AfDB’s Office of Integrity and Anti-Corruption established that the firm committed the fraudulent deals.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ayo Akanji: Adesina, AfDB and AfricaOn May 28, 2015, precisely 24 hours after his term as Minister of Agriculture ended in Nigeria, Dr. Akinwumi Adesina was elected President of the African Development Bank Group (AfDB) or Banque Africaine de D\u00e9veloppement (BAD). Founded in 1964, it comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust
Read more »
Bank Of Industry Donates N20m To Kano COVID-19 FundBank Of Industry Donates N20m To Kano COVID-19 Fund
Read more »
Keystone Bank launches online platform to empower SMEs – Daily TrustKeystone Bank (Nigeria) Limited has launched an online platform to empower Small and Medium Scale Enterprises (SMEs) with knowledge to manage and grow their businesses in the midst of the COVID-19 pandemic. The bank disclosed this in a statement, noting that one way to identify an SME-centric bank is the length it is willing to …
Read more »
NSE lists FBNQuest Merchant Bank N5bn bond on its platformThe Nigerian Stock Exchange (NSE) on Friday listed FBNQuest Merchant Bank N5 billion three-year 10.50 per cent bond on the bourse.
Read more »
PDP to EFCC: investigate N4.3bn discovered in secret bank accountThe Peoples Democratic Party in Ondo State has called on the Economic and Financial Crimes Commission (EFCC) to begin investigation...
Read more »
EFCC: Matawalle reacts to alleged N100m bribe offer by Chinese nationalsZamfara State Governor, Bello Matawalle, has hailed the Economic and Financial Crimes Commission (EFCC) for exposing Chinese nationals who tried to block investigations into a shoddy contract in the state. The suspects are Messrs Meng Wei Kun and Xu Koi. The EFCC is investigating a multi-billion Naira contract by a company they work for,
Read more »