Nigerian firm Maxicare banned by AfDB

Akinwumi Adesina President of AfDB: bank debars Maxicare Nigeria Limited
Akinwumi Adesina President of AfDB: bank debars Maxicare Nigeria Limited
Akinwumi Adesina  President of  AfDB: bank debars Maxicare Nigeria Limited
Akinwumi Adesina President of AfDB: bank debars Maxicare Nigeria Limited

The African Development Bank Group (www.AfDB.org), has announced the 36 month debarment of Maxicare Company (Nigeria) Limited.

The ban took effect from 23 February 2021.

Maxicare Company (Nigeria) Limited appears to be a family-owned business as it has Christopher Osuala, his wife and son as directors.

An investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that Maxicare engaged in collusive and fraudulent practices.

The infraction was committed during a tender for the construction of weigh stations and supply of equipment under the Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor connecting Cameroon and Nigeria.

The debarment renders Maxicare Company (Nigeria) Limited 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, 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.

The Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor is aimed at increasing trade and strengthening cooperation generally between the countries of the Economic Community of Central African States and those of the Economic Community of West African States and between Cameroon and Nigeria in particular.

It was co-financed by the African Development Fund, an entity of the African Development Bank Group.

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