EXCLUSIVE: World Bank, African Development Bank blacklist 15 Nigerian companies, 9 individuals - Premium Times Nigeria

are nine Nigerian nationals indicted for various forms of procurement malpractices.

“The debarment renders the company and its managing director ineligible to participate in Bank-financed projects during the debarment period.” Mr Obiniyi is also one of the nine Nigerian nationals currently serving debarment terms for corruption-related offences.The Nigerian companies and individuals are part of an infamous club of 912 firms and personalities across the world who remained temporarily blocked from bidding for contracts by multilateral development banks.

“Where firms or individuals divert these funds to other uses through fraud, corruption and associated harmful practices , the Bank Group exercises this fiduciary duty by sanctioning these entities through an administrative process.”

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