World Bank Find 4 Nigerian Firms Guilty Of Procurement Fraud

Nigerian firm, Chinese partner, 69 others blacklisted by World Bank, AfDB

Yemisi Izuora

Four Nigerian firms have been found to have breached procurement procedure and subsequently suspended the World Bank.

The firms are also prohibited from doing businesses with the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development, and the African Development Bank, AfDB, for a specific period of time. The pact aligns with the resolution of the five international financial institutions signed on April 9, 2010.

The suspended firms include, Sargittarius Nigeria Limited, located at 22B Adebayo Doherty Road, Lekki Phase 1 Lagos, Sargittarius Henan Water Conservancy Engineering Limited. Both firms share the same address and were sanctioned on the same date – 30 August, as contained in the official database of the World Bank.

They specialise in hydro-engineering and construction such as dam and waterworks construction; surface and underground water supply schemes; as well as erosion flood control.

Also suspended is Asbeco Nigeria Limited which was debarred on 25 May by World Bank as well as Maxicare Company Nigeria Limited.

Though the bank earlier sanctioned a few other local firms, the current four firms were suspended this year.

These suspensions imply that while each international financial institution has the liberty to determine the period of debarment; the World Bank, for instance, blacklisted Asbeco for five years.

It is prohibited from securing any contract from its portfolio until 24 May 2026.

“The debarment renders Sargittarius Nigeria Limited; and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period. Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.”

“at the expiry of the debarment period, Sargittarius Nigeria Limited will only be eligible to resume participation in AfDB Group-financed projects on the condition that it implements an integrity compliance program consistent with the Bank’s guidelines.” says the bank.

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