Business/Economy

AfDB prohibits Sargittarius Nigeria Ltd., affiliates

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17 Aug 2021 8:59 AM GMT
AfDB prohibits Sargittarius Nigeria Ltd., affiliates
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The African Development Bank (AfDB) Group, on Tuesday announced the 18-month debarment of Sargittarius Nigeria Ltd. and its affiliates, including Sargittarius Henan Water Conservancy Engineering Ltd. This is according to a statement issued AfDB. According to the bank, Sargittarius Nigeria Ltd. is a limited liability company registered in Nigeria. An investigation conducted by the bank’s […]

The African Development Bank (AfDB) Group, on Tuesday announced the 18-month debarment of Sargittarius Nigeria Ltd. and its affiliates, including Sargittarius Henan Water Conservancy Engineering Ltd.

This is according to a statement issued AfDB.

According to the bank, Sargittarius Nigeria Ltd. is a limited liability company registered in Nigeria.

An investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that Sargittarius Nigeria Ltd. engaged in fraudulent practices during tenders for the construction of water infrastructure in Ibadan, Nigeria, under the Urban Water Supply and Sanitation Improvement Project.

The Urban Water Supply and Sanitation Improvement Project was aimed at improving access to safe water supply and sanitation services in the cities of Ibadan and Jalingo, Nigeria.

The project was also co-financed by the African Development Fund, an entity of the AfDB group, and the government of Nigeria.

The debarment, however, renders Sargittarius Nigeria Ltd. and its affiliates ineligible to participate in bank group-financed projects during the debarment period.

Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions.

This includes 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, Sargittarius Nigeria Ltd. would only be eligible to resume participation in AfDB group-financed projects on condition that it implements an integrity compliance programme consistent with the bank’s guidelines.

According to the statement, the Office of Integrity and Anti-Corruption of the AfDB is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in bank group-financed operations.

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