AfDB bans Maxicare for alleged fraud

The African Development Bank Group has announced the debarment of Maxicare Company (Nigeria) Limited for alleged fraudulent practices.

Consequently, according to a statement by AfDB on Wednesday, the Nigerian firm won’t be able to participate in AfDB Group-financed project for three years from February 23, 2021.

Investigation by the bank’s office of integrity and anti-corruption revealed that the company and its associates involved in collusive and fraudulent practices during a tender for the construction of weigh stations and supply of equipment under the transport facilitation programme for the Bamenda–Mamfe–Abakaliki–Enugu road corridor connecting Cameroon and Nigeria, co-financed by AfDB.

Maxicare, Financial Street gathered, will only be able to participate in AfDB-financed projects after the debarment period, on the condition that it obeys the bank’s guidelines in respect to her integrity compliance programme.

Maxicare has also been banned by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions.

Chineye Udezo
Chineye Udezo
Chineye Udezo is a content developer and social media manager. She is an intern at Plexus Media Interlinks, the owners of Financial Street.

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