(3 minutes read)
· The African Development Bank Group (AfDB) has announced the debarment of four Nigerian registered companies for 24 months over fraudulent practices
· The affected parties are ineligible to participate in Bank-financed projects during the debarment period
· This also would lead to cross-debarment by other multilateral development banks under the Agreement for Mutual Recognition of Debarment Decisions
The African Development Bank Group (AfDB) has announced the debarment of four Nigerian registered companies for 24 months over fraudulent practices. The AfDB’s Communications and External Relations Department made this known in a statement in Abuja recently. It named the companies as Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited.
An investigation by the bank’s Office of Integrity and Anti-Corruption found that the debarred companies engaged in fraudulent and collusive practices. The illegal acts were exhibited during 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.
The affected parties are ineligible to participate in Bank-financed projects during the debarment period. This also would lead to cross-debarment by other multilateral development banks under the Agreement for Mutual Recognition of Debarment Decisions. These multilateral organizations include the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.
