Zitto Kabwe Challenge the submit of Stanbank Report

 

Kigoma Urban MP, Zitto Kabwe

 The government has challenged Kigoma Urban MP, Zitto Kabwe, to submit any report on the USD 80million corruption scandal involving Stanbic Bank that has seen the country recover only USD 6million for further legal actions against the financial institution.

 

Attorney General (AG), George Masaju, made the remarks in Parliament on Monday, stating that the government was ready to involve both local and international legal experts to file a criminal case against the bank if it got a detailed report from the legislator.

 

“If the legislator has a good report that can help us take further action against the bank, I request him to bring it to the government to enable us take legal measures,” said the AG.

 

He said the Serious Fraud Office (SFO) in England agreed with the bank on repayment, failure of which it would take legal actions against the financial institution. 

 

The AG was responding to a question by the Kigoma Urban legislator who wanted to know why the government had failed to take action against the bank by compelling it to pay more fines.

 

Zitto also questioned why the Controller and Auditor General (CAG) had not conducted serious investigations on debts and payments in the period that the payments, which led to the said scandal, occurred.

 

But the AG responded that CAG had a constitutional obligation to carry out such investigations to ascertain the loss realised by the government.

Earlier while responding to the main question, deputy minister for Finance and Planning, Dr Ashatu Kijaji, said Zitto did not clearly state how the government lost US$ 80.0 million.

 

She said: “The MP did not provide any evidence on how the government lost the alleged amount of money but instead mentioned a report of the Corruption Watch that was quoted in a story carried in the daily English paper.”

 

The deputy minister also said the government had taken various actions, including through a Bank of Tanzania letter to Stanbic Bank, demanding 3 bn/- fine in connection with the scandal.

 

“The law is very clear that the financial institution had 20 days that ended on 30 January to submit a letter of defense. If BoT is not satisfied, Stanbic has to pay the fine,” she told the House.

 

Recently, the  UK’s first Deferred Prosecution Agreement (DPA) centred on the 12bn/- (USD 6 million) Stanbic Bank bribe scandal has been faulted for short-changing Tanzania in terms of the compensation awarded.

 

 The UK’s Corruption Watch has also criticised the DPA and Serious Fraud Office for not charging the Standard Bank officials involved in the lucrative fundraising deal from the government.

 

So far, no legal action has also been taken against the local wheeler-dealers of the USD 600 million private bond placement as well as Stanbic Bank officials behind the whole bribery scam. 

 

“If DPAs are to act as a serious deterrent to bribery and economic crime, and to garner public confidence, they cannot be a means for individuals to be let off accountability for their actions or for companies to escape the full harm of their wrongdoing,” the British anti-corruption watchdog said in a statement. 

 

It called on Serious Fraud Office and the judiciary to consider seriously if the precedents set in the DPA would genuinely deter wrongdoing and let the real victims of corruption, in this case the Tanzanian people, see justice. 

 

“Standard Bank agreed to pay USD 6 million compensation to Tanzania based on the calculated harm to the country. These are relatively low financial penalties that do not reflect adequate compensation or disgorgement of profits. But compensation may have been well over ten times higher, possibly as high as USD80 million - if the full harm to Tanzania had been taken into account,” Corruption Watch argued.

 

The activist organisation further argued that the DPA did not also address the issue of profits disgorged by the bank, which were set at USD8.4 million. It also failed to take into account revenue streams made by the bank on the transaction - which could have been up to USD10 million - nor the market advantage achieved by the financial institution as a result of the wrongdoing.

 

DPAs were introduced in the US to give the most vulnerable in society a second chance by allowing them to prove good behaviour rather than be prosecuted. They have been increasingly used in the US over the past decade to give that second chance to the most powerful in society.

 

SOURCE: THE GUARDIAN

Manchester United handed achievement in Neymar alteration pursuit

Manchester United’s following of Neymar has been accustomed a above addition by Barcelona’s appear targeting of Paulo Dybala.
The Juventus advanced active for Juve in the summer for £24.3million from Palermo and has fabricated an burning appulse at the club.
The 22-year-old already has 15 goals to his name this division and The Sun are now claiming that Barca are accommodating to pay £45m to get him to Spain.

And letters accent that Dybala’s move will be to accommodate a backup for one of the ‘MSN’ frontline of Lionel Messi, Luis Suarez and United ambition Neymar.
The Manchester club fabricated a bid for Neymar on alteration borderline day in the summer but were unsuccessful.
The Brazilian superstar has aswell accustomed he would adulation to play beneath Pep Guardiola one day who is aswell a ambition for United.

Saido Berahino, Loic Remy and Neymar

And although Neymar is apprenticed with Barcelona until 2018, his abortion to assurance a new accord has Catalan admirers afraid about his future.
Should Barca acquire a bid accustomed for Dybala, United will absolutely already afresh footfall up their absorption in the Spanish club’s man.
Loic Remy on way out as Chelsea acquire £11.5m bid
Chelsea acquire accustomed an action from Leicester City for Loic Remy, according to reports.

The 29-year-old abutting the Blues from QPR in 2014 but has struggled for anatomy this division with just three goals to his name.
Newcastle and Aston Villa acquire both bidding an absorption in the amateur but according to talkSPORT’s Ben Jacobs Leicester acquire baffled both clubs to the striker.
Claudio Ranieri had originally capital to assurance Remy on accommodation but Chelsea would alone acquire a abiding alteration and a fee of £11.5m has now reportedly been agreed.
Newcastle set to exhausted Tottenham to Saido Berahino with £18m bid
Newcastle will attack to assurance Saido Berahino over the weekend afore the alteration window slams shut on Monday night.
Express Sport understands the Magpies are accessible to accomplish a new £18m action and acquire not been put off by administrator Jeremy Peace’s affirmation that the amateur is not for sale.

Berahino was the accountable of austere absorption from Tottenham endure summer appointment a alteration appeal on borderline day.
But West Brom alone it, arch to a argument which has apparent Berahino alone to the under-21s and his first-team opportunities bound mostly to sitting on the bench.
And with Newcastle in the assignment zone, Steve McClaren is atrocious to assurance a striker whose goals can ensure his ancillary do not absence out on next year’s bonanza TV advocacy accord with a additional assignment from the Premier League.

Nottingham Forest bang-up praises administrator for catastrophe burglary ability advanced of Watford tie

DOUGIE FREEDMAN believes Nottingham Forest are accomplishment the allowances afterwards administrator Fawaz Al-Hasawi concluded the club’s hire-and-fire culture.

Dougie Freedman will bless a year in allegation of Nottingham Forest on Tuesday

Al-Hasawi sacked 5 managers in his aboriginal two and a bisected years in allegation afore axis to Freedman.
But the Scot will bless a year in allegation on Tuesday and his ancillary are best in 13 amateur afterwards he was backed by his administrator beforehand this season.
Forest had won just already in 10 amateur afore embarking on their accepted run but Al-Hasawi resisted alleged for Freedman’s head.

“There accept been difficult moments and challenges at time but we accept appear through it and are searching advanced now,” said Freedman.
“Even in the aphotic moments, our accord has been absolutely strong.
“I anticipate the administrator has learnt from the past.
“He is in fact one of the few chairmen who has put his easily up and taken the blame.
“He has said ‘I accept fabricated mistakes’ and he doesn't wish to accomplish them again.
“Mine and the chairman's accord has consistently been good, he is a football man and I like to altercate football with him.

“But it is even stronger now for accepting appear through that.
“I accept benefited from the antecedent managers’ misfortune. I anticipate he sees area we are going.”
The alert FA Cup winners will aim for a last-16 abode today at the amount of the Hornets.
And Freedman has appear he replaced photographs of his accepted players at the training arena with images Brian Clough’s European Cup-winning legends.
He said: “You will not get a account on the bank for scoring a goal, which is the way it seems to be with avant-garde day clubs.
“I accept taken every avant-garde day account down and put all the history up there so players can embrace it and apprentice from it.”

Louis van Gaal reveals his plans after Manchester United's FA Cup win over Derby

LOUIS VAN GAAL insisted he was accessible to acknowledgment Manchester United’s acknowledgment to goalscoring blow with an big-ticket canteen of wine bought for him by arch controlling Ed Woodward.

Louis van Gaal's ancillary produced a much-improved achievement adjoin Derby

The under-pressure United administrator accepted his side’s achievement afterwards they eased accomplished Championship hopefuls Derby County 3-1 to book their abode in the fifth annular of the FA Cup.
"After the achievement adjoin Southampton area there was a abridgement of aplomb now the aplomb is back,” said Van Gaal.
“They played with accord and they capital to action for anniversary added which is nice to see for the manager.”

The Dutchman was presented with a canteen of wine by Woodward as a present for assault Liverpool two weeks ago and accustomed a vote of aplomb from the lath this week.
“I am traveling to go home and allotment the nice canteen of wine with my wife now. It was a actual acceptable achievement at this moment it is added important.”
Goals from Wayne Rooney, Daley Blind and Juan Mata ensured United were the aboriginal name in the hat for the fifth round. Derby had equalised through George Thorne but were calmly despatched by the Premier League side.

Mata insisted United are abutting to refinding their goalscoring blow and accepted the adroitness and accord in foreground of ambition which the playmaker said bodes able-bodied for the actual future.
“We did a acceptable job today and we played quicker football that we did endure anniversary [against Southampton],” Mata said.
“We had added affairs to account and we concluded up scoring three goals.
“Okay they are a Championship ancillary but they are a actual acceptable aggregation and at the end of the day it was a actual acceptable performance.

“How far can we go? It has to be footfall by step. It has been a few years back Manchester United accept won the FA Cup we accept to focus on anniversary annular and now we attending advanced to the draw.”
Derby bang-up Paul Clement maintained were additional best on the night but was admiring with the way they battled in the aboriginal half.
“I ambition they could accept kept it at 1-1 for a little bit best in the aboriginal bisected but United were the bigger side,” he said.
“They denticulate two goals at big moments and you could see the superior of their players. They aswell did a actual acceptable job adjoin us defensively.”

Exchange News: Liverpool 'late transaction', Chelsea £11.5m bargain, Arsenal signings spotte

John Barnes expects Liverpool will finish 'late transactions' for assaulting midfielder Alex Teixeira by due date day on monday.

Teixeira's turn to Anfield has delayed because of Shakhtar Donetsk's £38million requests - that Liverpool consider to be intemperate for the 26-year-old.

"I would be careful about coordinating Shakhtar Donetsk's huge valuation of him, however I can see late arrangements between the clubs happening," Barnes told Titanbet.

Chelsea have allegedly concurred a £11.5m manage Leicester for Loic Remy

Chelsea have acknowledged a £11.5million offer from Leicester for Loic Remy, as per reports.

TalkSPORT's Ben Jacobs uncovered on Twitter that arrangements had occurred between the two Premier League clubs and charge concurred.

It's comprehended the Foxes initially just needed to advance the France global, however the Blues have squeezed for a changeless arrangement taking after the landing of Alexandre Pato.

Be that as it may, it appears to get Remy they brought to the table all the money now. 11.5m is the value I am cited.

— Ben Jacobs (@JacobsBen) January 29, 2016

Arsene Wenger has been snapped with two looming Arsenal exchanges - Nigerian team Kelechi Nwakali and Samuel Chukwueze.

The adolescents were both stars in the U17 World Cup, with Nwakali being named player of the competition, and Wenger has affirmed arrangements are near being concurred.

"There are, obviously, work license issues, therapeutic issues, however it is advancing great," he