The Africa Development Bank, AfDB, said yesterday that it has debarred construction company —ALG Global Concept Nigeria Limited — from bidding for any AfDB projects in the next thirty six months.
The little-known company’s Chief Executive Officer, Mr. Abuharaira Labaran Gero, was also affected by the debarment.
A statement by the development bank, which was posted on its official website, yesterday, disclosed that the decision to debar the company was reached after it was uncovered through an investigation that the company was involved in numerous fraudulent practices in bidding for a construction contract in Nigeria.
The nature of the fraud
Specifically, this fraudulent bidding process involved the misrepresentation of ALG Global Concept Nigeria Limited’s experience in handling such a project.
“an investigation conducted by the bank’s office of integrity and anti-corruption established that alg global concept and its managing director engaged in numerous fraudulent practices in bidding for a construction contract under the agricultural transformation agenda support program phase one in nigeria (atasp-1), in the federal republic of nigeria. while participating in a tender for the conduct of construction of social infrastructure in niger state of nigeria, the company misrepresented its experience in conducting such construction contracts as well as by submitting a false bid security.” -afdb
What is the implication of the debarment?
According to the statement by the Africa Development Bank, the debarment simply means that ALG Global Concept Nigeria Limited and its CEO, are disqualified from participating in any AfDB projects within the next thirty six months.
“the debarment renders the company and its managing director ineligible to participate in bank-financed projects during the debarment period. the debarment 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.”
The company has yet to respond
In the meantime, the management of ALG Global Concept Limited has not reacted to the publication by the Africa Development Bank Group.
- Get the scoops and market intelligence that can help
you make better investment decisions right in your
ALG Global Concept Nigeria Limited is a Nigerian-based company which was founded in 1988. Information available on the company’s website says that it is a consulting firm that provides comprehensive strategic consultancy solutions.
Source: Daily Post