African Development Bank (AfDB) group on Thursday announced it has debarred four Nigerian firms over fraudulent and collusive practices.
The bank made its decision to debar them for 24 months in a statement.
This was in connection with a tender for the supply of water meters, automatic meters and house connection materials, under the Zaria Water Supply Expansion and Sanitation Project in Nigeria.
The firms are Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited.
READ ALSO: Mali Coup,A Setback For Regional Diplomacy In West Africa- Buhari
The implication of the sanction on the four firms is that they would not be eligible to participate in Bank-financed projects during the debarment period.
Additionally, the 24-month debarment of the companies qualifies for cross-debarment by other multilateral development banks.
This is as enshrined 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 Zaria Water Supply Expansion and Sanitation Project in Nigeria is co-financed by the African Development Fund, an entity of the African Development Bank Group.
Read the Full Press Release Here
