• About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 4, 2025
  • Login
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
Advertisement
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
No Result
View All Result
Home Business

World Bank releases corrupt Nigerian firms, individuals

Adepegba Abioye by Adepegba Abioye
October 14, 2022
in Business
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

 

*Announces sanctions


•World Bank Group President, David Malpass

Seven Nigerian firms and individuals have been sanctioned by the World Bank over alleged corruption during the bank’s 2022 fiscal year.

The bank disclosed this in its latest Fiscal Year 2022, which covered July 1, 2021, to June 30, 2022, in the Sanctions System Annual Report.

Three Nigerians and four Nigerian companies who were found guilty of corruption of necessary investigations by the Washington-based bank made the list.

Out of the four companies, two were sanctioned by the African Development Bank, but recognised by other multilateral organizations, including the World Bank under the cross-debarment policy.

One Mr Salihu Tijani was blacklisted for three years and two months, while Mr Isah Kantigi was blacklisted for five years.

Another 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.

 AIM Consultants Limited were the other two companies blacklisted by the World Bank 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 Sargittarius Nigeria Limited and Sargittarius Henan Water Conservancy Engineering Ltd for two years and six months each.

Meanwhile, two Nigerians and two firms  had been removed from the blacklist after complying with the bank’s conditions.

The Nigerians were Mr. Elie Abou-Ghazaleh and Mr. Fadi Abou-Ghazaleh, while the firms were Abou Ghazaleh Contracting Nigeria Ltd. and Quick Projects Limited.

In his remark in the report, the World Bank Group President, David Malpass, said that bank efforts in financing projects could be affected by corruption.

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.”

In total, he said that the bank debarred or otherwise sanctioned 35 firms and individuals.

Twenty-two companies are now eligible to again participate in projects financed by the bank after meeting up its conditions.

Previous Post

NNPC Nigeria’s biggest problem — el-Rufai

Next Post

Illegal miners takeover abandoned coal industry

Next Post

Illegal miners takeover abandoned coal industry

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
Renewable energy gets boost as NCC, REA inaugurate joint committee  
Science and Technology

Renewable energy gets boost as NCC, REA inaugurate joint committee  

by Ada Okafor
July 3, 2025
0

The Nigerian Communications Commission (NCC) has formally inaugurated the NCC–REA Collaboration Committee, marking a pivotal step towards advancing Nigeria’s digital...

Read moreDetails
Anaba, Uke lead new NGE executive committee

From Coal City to Conscience: Enugu hosts Editors’ reawakening conference

July 3, 2025
How my visit to Benue on humanitarian activities was aborted – Obi

Obi’s acceptance growing in the North — Obidients

July 3, 2025
Telmek Energy delivers 98% electricity to consumers – CTO, Opejin

Telmek Energy delivers 98% electricity to consumers – CTO, Opejin

July 3, 2025
NOG: We will tap into $17bn oil investment to grow production – Ososami

NOG: We will tap into $17bn oil investment to grow production – Ososami

July 3, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Homepage

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng