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The African Development Bank debars four companies for fraudulent and collusive practices for a period of 24 months

20/08/2020
Source : financialafrik.com
Categories: Economy/Forex

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The African Development Bank Group announces the debarment of Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited for fraudulent and collusive practices for a period of 24 months. The four sanctioned companies are registered in the Republic of Nigeria.

An investigation by the Bank's Integrity and Anti-Corruption Office has established that the four sanctioned companies engaged in fraudulent and collusive practices when bidding for tenders for the supply of water meters, automatic meters and domestic connection equipment as part of the drinking water supply and sanitation extension project in the city of Zaria in Nigeria.

During this period of exclusion, these companies will not be eligible for the award of contracts financed by the African Development Bank. In addition, the 24 month barring of Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited may be subject to cross barring by other banks multilateral development organizations under the Agreement on 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 project to extend drinking water supply and sanitation in the city of Zaria in Nigeria is financed by the African Development Fund, the concessional window of the African Development Bank Group.

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