- The company had tendered to win a road project from the African Development Bank before it was barred
- Maxicare Nigeria was nabbed for fraudulent practices and colluding during its bidding for the Cameroon-Nigeria link road
- The debarment will cost Maxicare project grant from World Bank and other multilateral financial institutions
Nigerian consulting firm, Maxicare Nigeria, has been barred from accessing any project grant from the African Development Bank Group (AfDB) for its involvement in alleged fraud.
The company had secured a road project connecting the northwest region of Cameroon with Nigeria. The company was accused of fraudulent practices to secure the project.
The fraud was dictated in the company's tender for supply of equipment and weigh stations, which is under the transport facilitation program for the connection of Cameroon and Nigeria through Bamenda-Mamfe-Abakaliki-Enugu road corridor.
The fraudulent act was discovered by AfDB's office of integrity and anti-corruption during an investigation. The debarment of Maxicare took effect from February 23, 2021. The company will also be unable to apply for projects from other multilateral development financiers like World Bank.
In a statement, AfDB said:
"The debarment renders Maxicare Company (Nigeria) Limited and its affiliates ineligible to participate in bank group-financed projects during the debarment period."
The Africial financial institution also stated:
“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.”
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The Cameroon and Nigeria road project was financed by AfDB's African Development Fund, and it is meant to benefit the Economic Community of Central African States (ECCAS) and those of the Economic Community of West African States (ECOWAS).
Meanwhile, Legit.ng had earlier reported that the Federal Government has been given a condition before it can increase fuel price in Nigeria. The government for months has been unable to lift pump price to meet international crude oil price.
There has been disagreement between FG and the Nigerian Labour Congress for months, as labour demanded the government repair the refinery before increasing fuel price.
Labour said that's the condition that President Muhammadu Buhari's administration must meet before it can make local pump price reflect market realities.