The revelation was made in the bank’s latest Fiscal Year 2022, which covered July 1, 2021, to June 30, 2022, in the Sanctions System Annual Report.
No fewer than seven Nigerian firms and individuals have been sanctioned by the World Bank for corruption during its 2022 fiscal year.
The revelation was made in the bank’s latest Fiscal Year 2022, which covered July 1, 2021, to June 30, 2022, in the Sanctions System Annual Report.
The list consists of three Nigerians and four Nigerian companies who were found guilty of corruption following investigations by the Washington-based bank.
For instance, one Mr Salihu Tijani was blacklisted for three years and two months, while Mr Isah Kantigi was blacklisted for five years, The PUNCH reports. 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.
Out of the four companies, two were sanctioned by the African Development Bank, but recognised by other multilateral organisations, including the World Bank under the cross-debarment policy.
The companies sanctioned include Sargittarius Nigeria Limited and Sargittarius Henan Water Conservancy Engineering Ltd with the sanction to last two years and six months each.
The other two companies blacklisted by the World Bank were AIM Consultants Limited, which was for two years and two months, and SoftTech IT Solutions and Services Ltd for four years and two months.
Meanwhile, two Nigerians and two Nigerian firms have been removed from the blacklist after complying with the bank’s conditions, the report stated.
The Nigerians are Mr. Elie Abou-Ghazaleh and Mr. Fadi Abou-Ghazaleh, while the firms are Abou Ghazaleh Contracting Nigeria Limited and Quick Projects Limited.
The World Bank Group President, David Malpass, in his remark 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.
"In total, the bank debarred or otherwise sanctioned 35 firms and individuals," he said.
Twenty-two entities were said to have met their conditions for release from sanctions, making them eligible to again participate in projects financed by the bank.