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Saturday, May 8, 2021
Home Uncategorized Access to fund: AfDB debars Maxicare for 36 months over fraudulent practices

Access to fund: AfDB debars Maxicare for 36 months over fraudulent practices

The African Development Bank Group on Wednesday announced a 36- month debarment of Maxicare Company (Nigeria) Limited with effect from 23 February 2021 for engaging in collusive and fraudulent practices during a tender for the construction of weigh stations and supply of equipment under the Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor connecting Cameroon and Nigeria.

Maxicare Company (Nigeria) Limited is a limited liability company registered in the Federal Republic of Nigeria.
AfDB in a statement said the debarment renders Maxicare Company (Nigeria) Limited and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period. Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement 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.
At the expiry of the debarment period, Maxicare Company (Nigeria) Limited will only be eligible to participate in Bank Group-financed projects on condition that it implements an integrity compliance program consistent with the Bank’s guidelines.
The Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor is aimed at increasing trade and strengthening cooperation generally between the countries of the Economic Community of Central African States and those of the Economic Community of West African States and between Cameroon and Nigeria in particular. It was co-financed by the African Development Fund, an entity of the African Development Bank Group.

 

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