News Formal

AfDB debars four Nigerian companies over fraudulent practices

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 78%

United States News News

United States United States Latest News,United States United States Headlines

AfDB says the companies engaged in fraudulent and collusive practices under the Zaria Water Supply Expansion and Sanitation Project in Nigeria.

The African Development Bank Group has announced the debarment of four Nigerian registered companies for 24 months over fraudulent practices.

It named the companies as Sangtech International Services Limited, Sangar & Associates Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited.The AfDB explained that an investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that the debarred companies engaged in fraudulent and collusive practices.

“The sanction renders Sangtech International Services Limited, Sangar & Associates Limited, Mashad Integrated and Investment Co. Limited and Medniza Global Merchants Limited ineligible to participate in Bank-financed projects during the debarment period. “Others including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group,” the bank explained.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Afdb Debars 4 Companies Over Fraudulent PracticesThe African Development Bank Group (AfDB) has announced the debarment of four Nigerian registered companies for 24 months over fraudulent practices. The AfDB\u2019s Communications and External Relations Department made this known in a statement in Abuja on Thursday. It disclosed that the companies were Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Afdb Debars 4 Companies Over Fraudulent PracticesThe African Development Bank Group (AfDB) has announced the debarment of four Nigerian registered companies for 24 months over fraudulent practices. The AfDB\u2019s Communications and External Relations Department made this known in a statement in Abuja on Thursday. It disclosed that the companies were Sangtech International Services Limited, Sangar & Associates (Nigeria) Limited, Mashad Integrated
Source: LeadershipNGA - 🏆 4. / 77 Read more »

NNPC becomes EITI supporting companyBecoming an EITI supporting company can help state-owned companies make progress towards transparency.
Source: PremiumTimesng - 🏆 3. / 78 Read more »