Connect with us

Business

AfDB blacklists Nigerian Company over bidding fraud

Published

on

AfDB raises alarm over Nigeria's growing unemployment rate

The African Development Bank (AfDB) has barred Qualitrends Global Solutions Nigeria Limited, a construction Company registered in Nigeria, for 36 months.

The bank made this known in a statement published on its website dated June 3, 2019.

According to the statement, an investigation conducted by the Bank’s Office of Integrity and Anti-Corruption, discovered that Qualitrends Global Solutions Nigeria Limited engaged in numerous acts of fraud in bidding for a construction contract under the Agricultural Transformation Agenda Support Program Phase One in Nigeria (ATASP-1).

It also said, while participating in a tender for the conduct of construction of social infrastructure in Niger State of Nigeria, the company misrepresented its experience in conducting such construction contracts and submitted a false bid security.

Read also:  NIWA partners NEXIM to improve water transportation

It stated, “The debarment renders the company ineligible to participate in Bank-financed projects during the debarment period.

“The debarment 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.

“ATASP-1 is financed under the African Development Fund, an entity of the African Development Bank Group.”

By Babatunde Alao…

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations