AfDB debars two Nigerian companies for fraudulent practices
Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) Group on Tuesday, 17 March 2020, announced the debarment of Beulah Universal Link Resources Limited for 36 months and Bluestream Systems and Device Limited for 12 months. Both companies are registered in Nigeria.
An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited engaged in fraudulent practices through their joint bid submitted under the Urban Water Supply and Sanitation Improvement Project implemented in Oyo State of Nigeria.
While participating in a tender for construction and rehabilitation of water reservoirs contracts, the companies misrepresented their qualifications for the contracts.
The debarments render Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited ineligible to participate in Bank-financed projects during the respective debarment periods.
Additionally, the 36 month debarment of Beulah Universal Link Resources Limited qualifies for cross-debarment by other multilateral development banks under the Agreement for 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 Urban Water Supply and Sanitation Improvement Project is financed under the African Development Fund, an entity of the African Development Bank Group.
The Office of Integrity and Anti-Corruption of the African Development Bank Group is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.
-0- PANA VAO 17March2020
