African Development Bank(AfDB) has banned two Nigerian companies- Beulah Universal Link Resources Limited and Bluestream Systems and Device Limited for 36 months and 12 months respectively over fraudulent practices.
The bank in a statement on Tuesday said the two companies were registered in Nigeria, adding 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.
According to the bank: “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 said 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.