Business
World Bank bans Nigerian firms, individuals from contracts for corrupt practices
Seven Nigerian companies, and individuals have been banned by the World Bank from getting its contracts over corrupt practices.
The World Bank disclosed that it sanctioned seven Nigerian firms and individuals for corruption during its 2022 fiscal year.
This disclosure was made in the bank’s latest Fiscal Year 2022, which covered July 1, 2021, to June 30, 2022, in the Sanctions System Annual Report.
The sanction list contained three Nigerians and four Nigerian companies who were found guilty of corruption of necessary investigations by the Washington-based bank.
Two of the four companies were sanctioned by the African Development Bank, but recognised by other multilateral organizations, including the World Bank under the cross-debarment policy.
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A particular Mr Salihu Tijani was blacklisted for three years and two months, while Mr Isah Kantigi was blacklisted for five years.
The third Nigerian, Amin Moussalli, was blacklisted for two years and 10 months, with additional conditional non-debarment (which means the individual is eligible to participate in the bank’s operations) for one year and six months.
The two companies blacklisted by the World Bank were AIM Consultants Limited for two years and two months, and SoftTech IT Solutions and Services Ltd for four years and two months.
The other two firms blacklisted by AfDB but recognised by the World Bank under the cross-debarment policy were Sagittarius Nigeria Limited and Sagittarius Henan Water Conservancy Engineering Ltd for two years and six months each.
The report further disclosed that two Nigerians and two Nigerian firms had been removed from the blacklist after complying with the bank’s conditions.
At the same time, 22 entities had met their conditions for release from sanctions, making them eligible to again participate in projects financed by the bank.
