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UNITED KINGDOM, London : Nigeria's striker Shola Ameobi (L) vies with Scotland's defender Charlie Mulgrew (R) during the international friendly football match between Nigeria and Scotland at Craven Cottage in London on May 28, 2014, ahead of the FIFA World Cup . AFP PHOTO
Nigeria 2 (Uchebo 41, Nwofor 90) Scotland 2 (Mulgrew 10, Eguwekwe 52-og)
THE AFRICAN Development Bank, AfD, has imposed a fine of $5.7 million (N912 million) on a Dutch firm, Snamprogetti Netherlands B.V. for its alleged involvement in bribe payments for Nigeria Liquefied Natural Gas, NLNG, contracts.
The fine was announced in a statement by the Bank Group, yesterday, entitled, 'ÁfDB charges Snamprogetti Netherlands B.V. US $5.7 million in monetary sanction for corrupt practices.'
The Bank said, "Snamprogetti Netherlands B.V. admits to corrupt practices from 1995 until 2004 by affiliated companies in relation to the award of AfDB-financed services contracts for liquefied natural gas production plants on Bonny Island, Nigeria.
"The African Development Bank (AfDB) Group on May 28, 2014, announced the conclusion of a Negotiated Resolution Agreement with Snamprogetti Netherlands B.V. following the company's acceptance of the charge of corrupt practices by affiliated companies in an AfDB-financed project. A
"As part of the Negotiated Resolution Agreement, the Bank's Integrity and Anti-Corruption Department, IACD, levies a financial penalty of US $5.7 million against the company.
"The funds will flow into AfDB projects preventing and combating corruption in the Bank's Member Countries on the African continent.
"In total, the AfDB has collected US $22.7 million in fines from four companies, including Snamprogetti Netherlands B.V., involved in bribe payments in connection with the liquefied natural gas production plants project on Bonny Island, Nigeria. "In addition to the payment of a monetary sanction, the Negotiated Resolution Agreement foresees the debarment for a period of three years.
"These companies are eligible for cross-debarment under the April 2010 Agreement for Mutual Enforcement of Debarment Decisions entered into by the African Development Bank Group, the Asian Development Bank, the European Bank for Reconstruction and Development, the World Bank Group and the Inter-American Development Bank Group.
Manchester United owner Malcolm Irving Glazer (born May 25, 1928) an American businessman and sports team owner is dead, official said
Glazer
Malcolm Glazer, the owner of English Premier League giants Manchester United and American football team the Tampa Bay Buccaneers, died Wednesday, it was announced.
"The Tampa Bay Buccaneers are saddened to announce the passing of Owner/President Malcolm Glazer earlier this morning at the age of 85," a statement on the Buccaneers website said.
"A dynamic business leader, Glazer helped mold the Buccaneers into a model franchise and one respected league-wide."
Glazer purchased Manchester United in 2005, controversially saddling the world famous club with hundreds of millions of dollars in debt in a leveraged buyout.
Glazer's stewardship of United has coincided with a glut of silverware — including five Premier League crowns and the 2008 Champions League title — and has also been the subject of sustained anger from Manchester United's fan base.
Fans have complained that Glazer's ownership model has forced United to spend millions of pounds servicing the club's debt — money which could have been spent on the transfer budget.
Glazer, 85, passed away early Wednesday, a statement on the Buccaneers website said.