Connect with us

Brand News

Collusive & Fraudulent Practices: AfDB Debars Maxicare Nigeria For 3 Years

Published

on

African Development Bank, afdb president, african development bank, african development bank president salary, african development bank vice president, african development bank headquarters, grace adesina, akinwumi adesina wife, ceo african development bank, akinwumi adesina linkedin

The African Development Bank Group (AfDB), on 28 April 2021, announces the 36-month debarment of Maxicare Company (Nigeria) Limited with effect from 23 February 2021. Maxicare Company (Nigeria) Limited is a limited liability company registered in the Federal Republic of Nigeria.

An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Maxicare Company (Nigeria) Limited engaged 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.

African Development Bank, afdb president, african development bank, african development bank president salary, african development bank vice president, african development bank headquarters, grace adesina, akinwumi adesina wife, ceo african development bank, akinwumi adesina linkedin

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 the 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 the 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.

Facebook Comments