- AfDB Suspends Beulah Universal, Bluestream Systems for Fraud
African Development Bank (AfDB) said it has suspended two Nigerian companies, Beulah Universal Link Resources Limited and Bluestream System and Device Limited, for various fraudulent practices.
According to the lender, Beulah Universal Link Resources Limited has been debarred for 36 months while Bluestream System and Device Limited was debarred for 12 months.
In the statement released by the bank, the investigation conducted revealed that the two companies engaged in fraudulent practices through their joint bid submitted under the Urban Water Supply and Sanitation Improvement Project implemented in Oyo State, Nigeria.
It added, “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.”
