The African Development Bank has temporarily delisted two registered Nigerian companies from participating in any bidding process with it.
AfDB stated that Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited “misrepresented their qualifications for the contracts.”
The bank took the decision following an investigation by its Integrity and Anti-Corruption office, which exposed the fraudulent practices of the companies.
Read Also:
Investigations revealed that the duo engaged in fraudulent practices through a bid jointly tendered for a project carried out in Oyo State under the Urban Water Supply and Sanitation Improvement Project.
“While participating in a tender for construction and rehabilitation of water reservoirs contracts, the companies misrepresented their qualifications for the contracts.
“The debarment renders Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited ineligible to participate in bank-financed projects during the debarment periods.
“Additionally, the 36-month debarment of Beulah Universal Link Resources Limited 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,” AfDB stated.
Get real time update about this post categories directly on your device, subscribe now.
