The African Development Bank (AfDB) Group has announced the 24-month debarment of 4 Nigerian companies from participating in the Bank’s financial projects for engaging in fraudulent and collusive practices during the tender for projects.
The companies that have been sanctioned and excluded include, Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited.
The disclosure was made in a press statement that was released by the multilateral Institution on Thursday, August 20, 2020.
The bank in its statement disclosed that an investigation conducted by its 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.
The statement from the AfDB reads, ‘’The African Development Bank Group on 20 August 2020, announces the 24-month debarment of 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.’’
The sanction means that the 4 Nigerian firms will be ineligible to participate in Bank-financed projects during the debarment period. In addition, 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.
Source: Nairametrics
