AfDB blacklist another Nigerian firm for fraudulent practices

June 28, 2019
114 Views
https://nationaldailyng.com/wp-content/uploads/2019/03/966-Babe-320x100.gif

The African Development Bank Group (AfDB) has blacklisted another Nigerian firm, Abuja-based construction firm Oceanic Construction and Engineering Nigeria for a minimum period of 48 months for fraudulent contract bidding, the Bank announced.

This brings to two companies from that have been barred in this month of June.

The bank had blacklisted Qualitrends Global Solutions Nigeria Limited for 36 months.

An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that the company misrepresented its year of incorporation, the value of its reference contracts, and the experience of its key personnel while bidding for two works contracts under the Bank-financed Urban Water Supply and Sanitation Improvement Project in Nigeria.

The Urban Water Supply and Sanitation Improvement Project aims at enhancing access to safe water supply services in the Nigerian states of Oyo and Taraba through, among other components, extension and rehabilitation works on the water transmission and distribution network.

The debarment, pronounced by the independent Sanctions Commissioner of the Bank, renders Oceanic Construction and Engineering Nigeria ineligible to participate in Bank-financed projects during the debarment period. The debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement 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.

At the expiry of the debarment period, Oceanic Construction and Engineering Nigeria shall be eligible again to participate in Bank-financed projects only conditional on the implementation of an integrity compliance program consistent with its guidelines.

The Office of Integrity and Anti-Corruption of the African Development Bank Group is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.

The investigation by the Office of Integrity and Anti-Corruption of the African Development Bank was conducted by Ms. Esther Mhone and Mr. Justin Maenje.

African Development Bank staff and the general public can use secured hotlines to report sanctionable practices within the Bank or operations financed by the Bank Group.

Post Views: 71

You may be interested

Iheanacho Is A Big Threat, Frank Confesses Ahead Brentford Vs Leicester City
Sports
2 views
Sports
2 views

Iheanacho Is A Big Threat, Frank Confesses Ahead Brentford Vs Leicester City

Webby - October 22, 2021

Brentford boss Thomas Frank believes Leicester City striker Kelechi Iheanacho will be a threat to his team in Sunday’s Premier…

Sunday Igboho Has 43 Accounts In 9 Banks — FG Identifies Secessionist’s Sponsor
Politics
2 views
Politics
2 views

Sunday Igboho Has 43 Accounts In 9 Banks — FG Identifies Secessionist’s Sponsor

Webby - October 22, 2021

Sunday Adeyemo, also known as Sunday Igboho, a self-proclaimed Yoruba activist and a prominent pioneer of the agitation for the…

BREAKING: IPOB Attacked 164 Police Stations, Killed 175 Security Operatives, Says Buhari’s Govt
News
1 views
News
1 views

BREAKING: IPOB Attacked 164 Police Stations, Killed 175 Security Operatives, Says Buhari’s Govt

Webby - October 22, 2021

The federal government says the Indigenous People of Biafra (IPOB) attacked 164 police stations across the country. Abubakar Malami, attorney-general…

Leave a Comment

Your email address will not be published.