World Bank Sanctions Seven Nigerian Firms Over Corruption

Seven Nigerian firms and individuals have been sanctioned by the World Bank for corruption during its 2022 fiscal year.

The World Bank made the disclosure in its 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.

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

AIM Consultants Limited and Soft Tech Solutions and Services Ltd are the two companies that were blacklisted by the World Bank

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.

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

Speaking on the report, David Malpass, the World Bank Group President, said that corruption could damage the bank’s efforts in financing projects.

“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.”