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  • August 21, 2020

AfDB Sanctions Four Nigerian Firms Over Fraud

'Dotun Akintomide
Writer

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Ranked: U.S. Crude Oil Imports by Country

Key Takeaways In 2024, 61.7% of America’s crude oil imports were from Canada. Meanwhile, Mexico accounted for 7.1% of crude oil imports. Crude imports make up about 40% of the oil that is refined in America, much of which is heavier crude compared to America’s light oil. For decades, America was a net importer of…

September 3, 2025 • Opinion

Alleged N85 Billion Nigeria Air fraud: Ex-Minister Sirika Debunks Allegations

By Abiola Olawale The immediate-past Minister of Aviation, Hadi Sirika has spoken on the controversies surrounding the Nigeria Air project, a national carrier initiative that sparked widespread criticism. Speaking during an interview with Channels TV on Wednesday, Sirika dismissed claims of fraud and mismanagement. Sirika, during the interview rejected allegations of fraud, claiming that Nigeria…

September 3, 2025 • Nigeria

Alphabet surges after court rejects DOJ’s call to break up Google in antitrust case

By Obinna Uballa Alphabet shares jumped 6% in premarket trading on Wednesday after a United States court rejected the Department of Justice’s (DOJ) push to break up Google in a high-stakes antitrust case. The DOJ had proposed divesting Google’s Chrome browser and imposing strict restrictions after the company was found last year to hold an…

September 3, 2025 • News

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By Gbenga Abulude

African Development Bank (AFDB) group on Thursday announced it has sanctioned four Nigerian firms over fraudulent and collusive practices.

The bank made its decision to debar them for 24 months in a statement.

The firms include Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited.

They were sanctioned after an investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that they engaged in fraudulent and collusive practices.

This was in connection with a tender for the supply of water meters, automatic meters and house connection materials, under the Zaria Water Supply Expansion and Sanitation Project in Nigeria.

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