Fraudulent Deals: ADB Debars China Zhonghao Limited For 18 Months
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 officer, for 18 months, for fraudulent practices.
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.
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Economic and Fianancial crimes commission
Source: EFCC News