AfDB bans Maxicare Nigeria Ltd for 36 months over fraudulent practices niyitabiti.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from niyitabiti.net Daily Mail and Mail on Sunday newspapers.
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The African Development Bank (AfDB) has moved to punish a Nigerian Company for being entangled in fraudulent practices, handing them a debarment of three years.
The affected company, Maxicare Company Nigeria Limited, a limited liability company registered with the Corporate Affairs Commission, got a 36-month debarment from the AfDB on April 28, 2021, effective February 23.
The AfDB debarment renders Maxicare Company Limited and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period.
According to News Chronicle, the AfDB’s Office of Integrity and Anti-Corruption conducted an investigation, establishing that the Nigerian company engaged in collusive and fraudulent practices during a tender for the construction of weigh stations and supply of equipment under the Transport Facilitation Programme for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor connecting Cameroon and Nigeria.
Nigerian Company Incurs AfDB s Wrath for Fraudulent Practices, Blocked for 3 Years – The News Chronicle thenews-chronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews-chronicle.com Daily Mail and Mail on Sunday newspapers.
Fraud: AfDB imposes 36-month ban on Nigerian firm, Maxicare The Punch
The African Development Bank Group on Wednesday announced 36-month debarment on Maxicare Company (Nigeria) Limited.
In a statement titled ‘African Development Bank debars Maxicare Company (Nigeria) Limited for 36 months for collusive and fraudulent practices’, it said this took effect from 23 February 2021.
It stated that Maxicare Company was a limited liability company registered in Nigeria.
The statement said, “An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Maxicare Company (Nigeria) Limited engaged in collusive and fraudulent practices during a tender for the construction of weigh stations and supply of equipment under the Transport Facilitation Programme for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor connecting Cameroon and Nigeria.
AfDB bars Nigerian company 3 years for fraudulent practices
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African Development Bank Group (AfDB) has barred Maxicare Company (Nigeria) Ltd. from conducting business with it for the next three years.
The bank said on its website on Wednesday that the debarment, for engaging in “collusive and fraudulent practices” during a business tender, took effect from Feb. 23.
It stated that the infringement was committed under the Transport Facilitation Programme for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor connecting Cameroon and Nigeria.
The bank added that an investigation by AfDB’s Office of Integrity and Anti-Corruption established that Maxicare engaged in collusive and fraudulent practices during the tender for the construction of weigh stations and supply of equipment.