Corruption: W’Bank sanctions seven Nigerian firms, individuals

The World Bank has revealed that it sanctioned seven Nigerian companies and individuals for corruption during its fiscal year of 2022.Infomation Guide Nigeria

This information was disclosed in the bank’s most recent Sanctions System Annual Report, which covered the period from July 1, 2021 to June 30, 2022.

The punishment list included three Nigerians and four Nigerian businesses found guilty of wrongdoing by a bank in Washington.

Two of the four firms were sanctioned by the African Development Bank, but were acknowledged by other multilateral organisations, notably the World Bank, in accordance with the cross-debarment policy.

Mr. Salihu Tijani was blacklisted for three and a half years, while Mr. Isah Kantigi was blacklisted for five years.

Amin Moussalli, the third Nigerian, was blacklisted for two years and ten months, with further conditional non-debarment (meaning the individual is permitted to participate in the bank’s operations) for an additional year and a half.

AIM Consultants Limited and SoftTech IT Solutions and Services Ltd were placed on the World Bank’s blacklist for two years and two months and four years and two months, respectively.

Sargittarius Nigeria Limited and Sargittarius Henan Water Conservancy Engineering Ltd were the other two companies blacklisted by AfDB but recognised by the World Bank under the cross-debarment policy for a period of two years and six months.

In addition, the report revealed that two Nigerians and two Nigerian companies were removed off the blacklist after meeting the bank’s requirements.

Mr. Elie Abou-Ghazaleh and Mr. Fadi Abou-Ghazaleh represented the Nigerians, while Abou Ghazaleh Contracting Nigeria Ltd. and Quick Projects Limited represented the companies.

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David Malpass, president of the World Bank Group, stated in the study that corruption might hinder the institution’s efforts to finance projects.

He said, 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 recognize 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.

“The offices that comprise the sanctions system—the Integrity Vice Presidency, the Office of Suspension and Debarment, and the Sanctions Board and its Secretariat—work together to send a clear message: corruption has no place in development.”

According to him, the bank has excluded or otherwise sanctioned a total of 35 businesses and individuals.

At the same time, 22 entities had completed the prerequisites for their release from sanctions, making them eligible to engage in bank-funded projects once again.

The PUNCH previously revealed that the World Bank had placed 18 Nigerian persons and organisations on its blacklist for engaging in corrupt acts, fraud, and collusive practises during its fiscal year of 2021.

In a separate PUNCH report, it was revealed that between 2017 and 2021, the AfDB blacklisted at least 40 Nigerian companies and individuals for engaging in corrupt acts, fraud, and collusive practises.

The AfDB said the firms and individuals were debarred “for coercive, collusive, corrupt, fraudulent, or obstructive practices under its sanctions system or adopted under the Agreement for Mutual Enforcement of Debarment Decisions from other global lenders.”Jamb Result 

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