AfDB debars four Nigerian companies over fraud, collusive practices
Aderemi Ojekunle is a Businessamlive Reporter.
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August 21, 2020822 views0 comments
Ben Eguzozie, with agency report
- face debarment by other multilateral DFIs
Four Nigerian registered companies, Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited have been debarred for 24 months by the African Development Bank Group (AfDB) over fraudulent and collusive practices during a tender for the supply of water meters, automatic meters, and house connection materials under a Zaria Water Supply Expansion and Sanitation project undertaken by the bank in Nigeria.
AfDB said an investigation conducted by its Office of Integrity and Anti-Corruption established that the debarred companies, Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited, had engaged in the fraudulent and collusive practices during a tender for supply of materials for the Zaria Water Supply Expansion and Sanitation project in Nigeria.
The sanction renders the four companies “ineligible to participate in bank-financed projects during the debarment period.”
Additionally, the pan-African development financial institution said, “the 24-month debarment of the (Nigerian) companies qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Recognition of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.”
According to the bank group, whose president, Akinwunmi Adesina, has just scaled through an independent investigative panel over alleged administrative misconducts ahead of his second term of office at the bank, the Zaria Water Supply Expansion and Sanitation project in Nigeria is co-financed by the African Development Fund (ADF), an entity of the African Development Bank Group.