Friday, October 23, 2020

Nigerian Breweries dismiss corruption allegation against its former CEO

-

Nigerian Breweries Plc on Wednesday reacted to an investigative report which exposed how the company protected Nico Vervelde, its Dutch Chief Executive Officer suspected of corruption.

The company reacted in a disclosure notice signed by Sade Morgan, the Corporate Affairs Director at Heineken.

The notice was sent to the Nigerian Stock Exchange Wednesday.

The company’s reaction is coming against the backdrop of PREMIUM TIMES’ publication of an investigative piece by journalists Olivier van Beemen and Femke van Zeijl which detailed corrupt practices in the company.

- Advertisement -

The report, titled ‘How Nigerian Breweries protected its Dutch CEO suspected of corruption’, was presented to the Nigerian audience for the first time.

The journalists recently won De Tegel, the most prestigious award for journalism in the Netherlands, for their revelations about high-end corruption at Nigerian Breweries, a subsidiary of the multinational Heineken.

In May 2017, PREMIUM TIMES reported that Mr Vervelde resigned as the MD of the company to take up another appointment at the Heineken Group. He was promptly replaced with Johan Doyer.

The latest report has now exposed the details of the resignation. Based on almost a year of investigation both in Nigeria and the Netherlands, the report revealed how the company’s former Nigeria CEO was linked to cases of bribery, corruption, and abuse of office.

More: Nigeria tightening anti-money laundering fight, ICPC tells UN
- Advertisement -

In its response Wednesday, the company claimed that it does not tolerate bribery or corruption at any level of its operations.

“If an allegation emerges, a thorough investigation is carried out to establish the facts and, if necessary disciplinary action is taken – regardless of the role or position,” it said.

In the case exposed in the report, the company said it took exactly that approach and moved quickly to comprehensively address the issue.

“Both the Board of Nigerian Breweries and HEINEKEN conducted an internal and external audit and investigation,” the statement said without indicating if it found Mr Vervelde culpable or not.

The company added that it remains committed to upholding Nigerian Laws and managing its operations in the most responsible and compliant way.

MUST READ

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...

Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...
Advertisement
Advertisement

Latest News

This Week

US arrests members of international money laundering group QQAAZZ

The US Department of Justice has unsealed charges against 14 members of an international money laundering group known as QQAAZZ. US authorities said the group...

Mozambique seeks prosecution of ex-Credit Suisse bankers implicated in debt scandal

Mozambique's Attorney General's Office said on Wednesday it will seek the extradition of three former Credit Suisse CSGN.S bankers implicated in a $2 billion debt scandal...

EU takes legal action against Cyprus and Malta over investment for citizenship scheme

The European Union’s executive said on Tuesday it was launching legal action against Cyprus and Malta over their investor citizenship programmes, also known as...

Federal prosecutors seek 24-30 months in prison for ex-Cincinnati Councilwoman Tamaya Dennard in bribery case

Because of the seriousness of the bribery scheme in which she was involved, former Cincinnati Councilwoman Tamaya Dennard should go to federal prison for 24 to...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks