BY BABAJIDE KOMOLAFE
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.
“The Portuguese entities affiliated to Snamprogetti Netherlands B.V. played an active role in funneling bribes to public officials.