Tuesday, May 18, 2021

AfDB bans Nigerian construction firm for fraud

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Fred Dzakpata
Fred Dzakpata is a Ghanaian journalist who specializes in business reporting in Africa.
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The African Development Bank Group has banned construction firm ALG Global Concept Nigeria Limited for the next 36 months.

The bank says it’s investigations revealed that the firm engaged in numerous fraudulent practices in bidding processes.

One of those bidding processes covered a construction contract under the Agricultural Transformation Agenda Support Program Phase One in Nigeria (ATASP-1), in Nigeria.

A  statement from the the Bank on Wednesday 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 as well as by submitting a false bid security.”

The debarment renders the company and its Managing Director, Abuharaira Labaran Gero ineligible to participate in Bank-financed projects during the debarment period.

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Africafeeds.com understands this ban can only enforced by other multilateral development banks under the Agreement for Mutual Recognition of Debarment Decisions.

That includes the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.

The bank’s office of Integrity and anti-Corruption is carries out such probes to prevent, fraud and other sanctionable practices in it’s operations.

 

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Source: Africafeeds.com

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