Business

AfDB slams 24-month debarment on 4 firms over fraud

AfDB slams 24-month debarment on 4 firms over fraud

 

The African Development Bank (AfDB) Group has announced a 24-month debarment on four firms involved in fraudulent and collusive practices.

The firms, Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited. All four companies are registered in Nigeria.

An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that the debarred companies engaged in fraudulent and collusive practices 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.

According to a student from the bank, “the sanction renders Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited ineligible to participate in Bank-financed projects during the debarment period.

“Additionally, the 24-month debarment of the 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”.

The Zaria Water Supply Expansion and Sanitation Project in Nigeria is co-financed by the African Development Fund, an entity of the African Development Bank Group.

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Comments (1)

  1. Yahaya Abdul

    Nigerians and fraud ehhh…

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