29 C
Lagos
Saturday, May 30, 2020

Two Chinese Nationals Charged for Attempted Bribery

Must read

In Stunning Move, WAPIC Insurance Says It Will Refund Motor Insurance Premiums

Nigeria's WAPIC Insurance says that it will issue motor insurance premium refunds to its customers. WAPIC, which is publicly listed on the...

Arbico Fails to Meet NSE’s Minority Shareholding Limit

Arbico Plc has fallen below the minimum shareholding requirement for minority retail shareholders as more than 80 per cent of the construction...

Afreximbank Honoured for Promoting Creative Industry, Announces Creative African Exchange

The African Export-Import Bank (Afreximbank) has announced the Creative African Exchange (CAX) programme as it was honoured at the International Fashion Awards...

Michael Larbie

Michael Larbie has been an investment banker for the best part of his 22 years’ career in financial services. He is the...
Alleged Bribe from China Zhonghao

The Sokoto Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested two Chinese nationals: Mr. Meng Wei Kun and Mr. Xu Koi for attempting to bribe the agency’s Zonal Head with fifty million naira. The suspects were arrested on Monday, May 11, 2020 in Sokoto.

The alleged bribe was intended to compromise the EFCC’s investigation of China Zhonghao Limited, a firm which executed contracts for the APC-led Zamfara State Government to the tune of N50billion (Fifty Billion Naira) between 2012 to 2019.

The zonal office of the Commission is investigating the construction company in connection with the execution of contracts for the construction of township roads in Gummi, Bukkuyun, Anka and Nassarawa towns of Zamfara State; and also the construction of 168 (One Hundred And Sixty-eight) solar-powered boreholes in the 14 local government areas of the state.

Officials of the firm had reached out to the Zonal Head to torpedo the investigation and after the Zonal Head Lawal played along, China Zhonghao reached out to him through its representatives Meng Wei Kun and Xu Kuoi who brought cash totalling fifty million naira to the EFCC’s office along Airport Road, Sokoto.

The suspects were promptly arrested with the the large sum of cash which was supposed to be a first instalment. The EFCC had started investigating the company after it received numerous petitions against China Zonghao Limited alleging conspiracy;misappropriation of public funds;embezzlement; official corruption; abuse of office, stealing and money laundering obtained against the Zamfara State government through inflated and uncompleted contracts awarded to the company.

Investigations have so far revealed that China Zhonghao Ltd has received payments of over N41billion (Forty One Billion Naira) from the Zamfara State government, out of which about N16, 000, 000, 000. 00 (Sixteen Billion Naira) equivalent of over $US53,000,000.00 (Fifty Three Million US Dollars) was allegedly diverted and traced to some bureau de change operators

The EFCC says that the suspects will soon be charged to court.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest Articles

In Stunning Move, WAPIC Insurance Says It Will Refund Motor Insurance Premiums

Nigeria's WAPIC Insurance says that it will issue motor insurance premium refunds to its customers. WAPIC, which is publicly listed on the...

Arbico Fails to Meet NSE’s Minority Shareholding Limit

Arbico Plc has fallen below the minimum shareholding requirement for minority retail shareholders as more than 80 per cent of the construction...

Afreximbank Honoured for Promoting Creative Industry, Announces Creative African Exchange

The African Export-Import Bank (Afreximbank) has announced the Creative African Exchange (CAX) programme as it was honoured at the International Fashion Awards...

Michael Larbie

Michael Larbie has been an investment banker for the best part of his 22 years’ career in financial services. He is the...

Mutiu Sunmonu

Mr. Mutiu Sunmonu is an Oil and Gas expert. He retired from the Shell Petroleum Development Company (SPDC) in 2015 after thirty-six...