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AfDB suspends two Nigerian companies for fraud

AfDB suspends two Nigerian companies for fraudAfrican Development Bank has debarred Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited for fraudulent practices

The two companies were registered in Nigeria, the bank said in a statement on Tuesday.

The AfDB announced the debarment of Beulah Universal Link Resources Limited for 36 months and Bluestream Systems and Device Limited for 12 months.

It stated that an investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited engaged in fraudulent practices through their joint bid submitted under the Urban Water Supply and Sanitation Improvement Project implemented in Oyo State, Nigeria.

It added, “While participating in a tender for construction and rehabilitation of water reservoirs contracts, the companies misrepresented their qualifications for the contracts.

“The debarments render Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited ineligible to participate in bank-financed projects during the respective 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 Group.”

It stated that the Urban Water Supply and Sanitation Improvement Project was financed under the African Development Fund, an entity of the African Development Bank Group.

The AfDB stated that the Office of Integrity and Anti-Corruption of the African Development Bank Group was responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.

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