AfDB suspends two Nigerian companies for fraud

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African Development Bank has debarred Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited for fraudulent practicesThe AfDB announced the debarment of Beulah Universal Lin

k Resources Limited for 36 months and Bluestream Systems and Device Limited for 12 months.

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

 

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