The African Development Bank (AfDB) on Wednesday announced the banning of a Nigerian company, Maxicare Company (Nigeria) Limited for 36 months with effect from 23 February this year over fraudulent practices.
The development finance institution stated that company’s debarment was to the findings of an investigation conducted by its Office of Integrity and Anti-Corruption which proved that Maxicare Company (Nigeria) Limited 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 bank further indicated the debarment rendered Maxicare Company (Nigeria) Limited and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period.
Also, the sanction qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement 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.
According to the bank, at the expiry of the debarment period, the company will only be eligible to participate in Bank Group-financed projects on condition that it implements an integrity compliance program consistent with the Bank’s guidelines.
The Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor is aimed at increasing trade and strengthening cooperation generally between the countries of the Economic Community of Central African States and those of the Economic Community of West African States and between Cameroon and Nigeria in particular.
It was co-financed by the African Development Fund, an entity of the African Development Bank Group.