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.

The Office of Integrity and Anti-Corruption of the AfDB is responsible for preventing, deterring, and investigating allegations of corruption, fraud and other sanctionable practices in bank group-financed operations.

Maxicare Company (Nigeria) Ltd. is a limited…



Source: Vanguard Newspaper