Home Business AfDB debars Maxicare, Nigerian firm for fraud

AfDB debars Maxicare, Nigerian firm for fraud

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FILE PHOTO: The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. Picture taken September 16, 2016. REUTERS/Luc Gnago/File Photo - RC196B9DEF90

The African Development Bank (AfDB) announced Wednesday it has debarred a Nigerian firm and its affiliates for 36 months with effect from February 23, 2021, from receiving Bank contracts for fraudulent practices, said a statement released by the AfDB.

Maxicare Company Nigeria Limited is a limited liability company registered in Nigeria.

In the statement on Wednesday, the AfDB said an investigation conducted by the bank’s office of integrity and anti-corruption established that Maxicare engaged in collusive and fraudulent practices during a tender for the construction of weigh stations and supply of equipment under the transport facilitation program for the Bamenda-Mamfe-Abakaliki-Enugu road corridor connecting Cameroon and Nigeria.

   The debarment, according to the bank, renders Maxicare Company (Nigeria) Limited and its affiliates ineligible to participate in projects funded by AfDB during the debarment period.

   The statement added that the debarment qualifies for cross-debarment by other multilateral development banks under the agreement for mutual enforcement of debarment decisions.

   At the expiry of the debarment period, the AfDB said Maxicare Company will only be eligible to participate in AfDB funded projects on the condition that it implements an integrity compliance program consistent with the bank’s guidelines. 

XINHUA

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