TheCapital

AFDB Bars Nigerian Companies

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AFDB Bars Nigerian Companies

AFDB Bars Nigerian Companies
September 20
18:19 2021

Several Nigerian companies were sanctioned for fraudulence related practices following the recent investigation of the Urban Water Supply and Sanitation projects in Oyo and Taraba States by the Office of Integrity and Anti-Corruption of the AFDB as these projects were financed by the bank.

When our correspondent contacted one of the companies sanctioned, Sargittarius Nig Limited, the company stated that this was a bidding process that occurred in 2014/2016 and that there were errors in two of the bidding forms submitted in their bids, but the originating documents were attached. There was no deliberate attempt to fraudulently misrepresent information in the bid document of over 600 pages each. The company, like so many other bidders, did not win the bids.

These mistakes were later caught and rectified by their internal controls and processes years before the AFDB investigations. They further stated that they have also engaged the bank in obtaining their relevant integrity compliance process guidelines in view of compliance accordingly.

 

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Mujeeb

Mujeeb

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