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 on Thursday.
It disclosed that the companies were Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited.
The AfDB explained that an investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that the debarred companies engaged in fraudulent and collusive practices.
ALSO READ: President Buhari condemns Mali’s coup
It stated that the fraudulent 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 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.
“Others including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group,” the bank explained.
According to the statement, 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
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
More Shocks As Unemployment Data Exposes Misery Status Of Nigerians
BEFORE now, economic and finance experts found it difficult to assess the healthy nature of the labour market and how to measure the impact of government policies targeted at creating jobs because of lack of real time labour data. But on Friday, August 14, 2020, the concerns were only slightly eased as the National Bureau of Statistics (NBS) published second quarter (Q2):2020 labour statistics, the first report since Q3:2018…
MONDAY LINES: Obasanjo’s (D)Art Of Condolence
Ben Guriano of The Washington Post described them in 2018 as ‘taboo enforcers.’ These are trolls seeking to upend truth and subvert facts about the life and times of the dead. ‘Do not speak ill of the dead’ came originally from a Spartan philosopher, then it was latinated by the Romans to read De mortuis nihil nisi bonum – and got spread around the world like Chinese viruses. The black man, as in all cases, contracted the no-no and turned it into a religion, got drunk with it and won’t mind killing for it…
2.4 Million Households To Benefit From FG’s Stimulus Package — Presidential Aide
TO ensure food security for citizens, at least 2.4 million households will benefit from the Federal Government’s post-COVID-19 stimulus package, a presidential aide says. Dr Andrew Kwasari, Senior Special Assistant (SSA), to the President on Agriculture, disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. Kwasari spoke against the backdrop of projects anchored by the Nigerian Economic Sustainability Committee (NESC) to secure the economy against the effects of COVID-19…
SERAP Demands Withdrawal Of Broadcasting Code Seeking To Sanction Contents ‘Insulting’ Leader
THE Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari, urging him to “urgently instruct the Minister of Information and Culture, Mr Lai Mohammed, and the National Broadcasting Commission (NBC) to withdraw the apparently illegal broadcasting code and memo threatening to sanction any broadcast that denigrates, disrespects or insults the president, governors…