AFDB Bars Nigerian Companies

 Breaking News

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.


==========================================About Us=======================================================

TheCapital offers the best of society and entertainment features by situating celebrity news and features in the context of popular culture. Published by OldEnglish Limited, it presents a very sharp contrast to mundane, run-of-the-mill celebrity gossip magazines; rather it is a written forum for and about Nigeria’s high-society comprising Nigeria’s upper middle class and aristocracy. TheCapital is an ultra-niche, collectible quality magazine written by and about the global elite. Our focus is on Nigeria’s best in the art and design, wealth and philanthropy, new technology, innovative ideas and experiences. We specialise in interviewing and profiling Nigeria and Africa’s most influential and successful individuals – art patrons, financiers, philanthropists, great thinkers – in their own words, exclusively for our publications. The magazine features the work of some of the most gifted photographers and designers in the world.

Mission Statement
Our objective is to provide factual and exhilarating news reports about the crème-de-la-crème of the Nigerian society. Feature reports by the magazine are designed to provide accurate insight to perspectives about eminent personalities and newsmakers and the goings-on in their lives.

Target Audience
It is primarily aimed at men and women with over eighty percent of its target readers aged 25 to 54 and in the upper socio-economic quintile. TheCapital offers that rare sophistication and élan that establishes its status as Nigeria’s most authoritative cultural barometer. The reader of TheCapital primarily; …loves to be trendy.

About Author



Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment