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 N100 million 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.}

^{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, ADB’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 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.}