World Bank Sanctions 59 Nigerian Firms and Individuals for Corruption

By Olaide Ajibola, JKNMedia Reporter

THE WORLD Bank has sanctioned 59 Nigerian companies and individuals for their involvement in corrupt practices and procurement offences, as outlined in a recent update on its website titled: ‘World Bank Listing of Ineligible Firms and Individuals Notes on Debarred Firms and Individuals’.

This move impacts 39 companies previously sanctioned by the African Development Bank (AfDB) and 19 individuals identified directly by the World Bank under its cross-debarment policy.

The cross-debarment policy ensures that entities debarred by one international financial institution are also sanctioned by other participating institutions.

The World Bank’s list of debarred entities is updated every three hours and currently includes 1,210 companies and individuals globally.

The sanctions render these firms and individuals ineligible to participate in any World Bank-funded projects, effectively barring them from a significant source of international business and development contracts.

The sanctioned entities span several major Nigerian cities, including Abuja, Lagos, Kano, Delta, Kaduna, and Enugu.

Among the barred entities are notable names such as AG Vision Construction Company, Maxicare Company Nigeria Limited, BestScan, Beulah Universal Link Resources Limited, and individuals like Salilu Shehu Ahmad Tijani, Okafor Glory (Director of Unique Concepts Enterprises), and Bamidele Obiniyi.

This decisive action by the Washington-based institution underscores its commitment to maintaining the integrity of its procurement processes and ensuring that funds are used for their intended purposes without the taint of corruption. 

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