World Bank, AfDB Blacklist 31 Firms Over fraud

The World Bank and the African Development Bank (AfDB) have released a list of 31 firms operating in Nigeria for sanction over fraud and corruption related offences. The new list of companies and consultants was published in an August 16 update posted on the website of the World Bank.
The Breton Woods institution noted that the period of ineligibility imposed on each of the defaulting companies and individual consultants extends to any legal entity they may control directly or indirectly.
It added that minimum period of ineligibility covers about three-years, provided the companies and individuals demonstrate to the Bank Group’s Integrity Compliance Officer sufficient readiness to take remedial measures to address offences as well as establish effective integrity compliance programme acceptable to the Bank.
The Chinese companies earlier blacklisted include China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering Company Limited, CCECC Nigeria Lekki (FTA) Company Limited, CCECC Nigeria Railway Company Limited, CRCC Petroleum & Gas Company Limited, and CCECC Nigeria Company Limited.
However, both the first and second lists contained names of other companies operating in various other countries around the world adjudged to have flouted corporate governance rules guiding procurement activities of the multilateral institutions.
The companies and consultants were debarred and declared ineligible to be awarded any World Bank-financed contracts for at least a year, between June 4, 2019, and March 3, 2020.
Some of the companies and consultants were accused of violating the provisions of the guidelines for the selection and employment of consultants under International Bank for Reconstruction and Development (IBRD) loans and the International Development Association (IDA) credits and grants by World Bank borrowers.
Others were sanctioned for infractions of the policy as spelt out in the Procurement Guidelines and the World Bank Procurement Regulations for Investment Project Financing Borrowers for projects after July 1, 2016.