• Mon. Jan 30th, 2023

NDOKWA VANGUARD

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Seven Nigerian companies debarred by World Bank for corruption

The World Bank has debarred five Nigerian firms and individuals for engaging in corrupt practices and also recognized the debarment of two Nigerian companies debarred by the African Development Bank (AfDB). 

The companies and individuals who will no longer participate in projects and operations financed by institutions of the World Bank Group, were listed in the international financial agency’s recent report titled ‘Sanctions System Annual Report for Fiscal Year 2022’ which was prepared by the offices of the World Bank Group’s (WBG) sanctions system, which comprises the integrity vice-presidency (INT), the office of suspension and debarment (OSD), and the sanctions board and its secretariat.

Salihu Tijani was debarred for three years and two months while Isah Kantigi was debarred for five years.

Amin Moussalli was debarred for two years and 10 months alongside a conditional non-debarment for one year and six months (Conditional non-debarment means that a firm or individual remains eligible to participate in World Bank-financed projects as long as the firm/individual complies with certain sanction conditions).

The World Bank debarred two firms; AIM Consultants Limited for two years and 10 months, and SoftTech IT Solutions and Services Ltd. for four years and two months.

The two firms blacklisted by AfDB but recognised by the World Bank were Sargittarius Nigeria Limited, and Sargittarius Henan Water Conservancy Engineering Ltd. for a period of two years and six months each.

David Malpass, World Bank Group president, who spoke on the sanctions said;

“Among them, it diverts scarce resources from achieving the projects’ objectives, robbing the benefits of development from the people who need them most; it increases costs for the most vulnerable while reducing their access to services—including health, education, and justice; and it undermines the public’s trust in institutions, thereby weakening governance and rule of law and increasing fragility,” Malpass explained.

“At a moment when every available resource must be deployed for maximum impact, these ill effects of corruption can be especially damaging.

“For this reason, it is important to recognise the role of the Bank Group’s sanction system, which plays a significant part in our institution’s efforts to maintain oversight and accountability for the financing we provide.”

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