JULIANA AGBO">
  • About Us
  • Advertise With Us
  • Contact
Thursday, March 4, 2021
  • Login
Leadership Newspaper
No Result
View All Result
  • HOME
  • NEWS
    • COVER STORIES
    • BREAKING NEWS
    • METRO
    • HEALTH
    • EDUCATION
    • LAW
    • AFRICA
    • SCIENCE & TECH
    • AGRICULTURE
    • LABOUR MATTERS
    • WORLD
  • POLITICS
  • BUSINESS
    • AVIATION NEWS
    • BANKING AND FINANCE
    • CAPITAL MARKET
    • COMMERCE AND INDUSTRY
    • ENERGY
    • MINES AND STEEL
    • PROPERTY
  • SPORTS
    • FOOTBALL
    • ATHLETICS
    • TENNIS
    • GOLF
    • BASKETBALL
    • WRESTLING
    • OTHER SPORTS
  • FEATURES
    • E-PAPER
    • FOR THE RECORD
    • INTERVIEW
    • CRIME
  • ENTERTAINMENT
    • MUSIC
    • INSIDE NOLLYWOOD
    • MOVIES
    • LIFE AND CULTURE
    • ARTS
    • KANNYWOOD
  • OPINION
    • LETTERS
    • ISSUES
  • COLUMNS
    • MONDAY COLUMN
    • TUESDAY COLUMN
    • WEDNESDAY COLUMN
    • THURSDAY COLUMN
    • FRIDAY COLUMN
    • SATURDAY COLUMN
    • SUNDAY COLUMN
  • OTHERS
    • EDITORIAL
    • LEADERSHIP HAUSA
    • RELIGION
    • VIDEOS
    • PHOTO GALLERY
    • ADVERTISE WITH US
    • CONTACT US
HAUSA
  • HOME
  • NEWS
    • COVER STORIES
    • BREAKING NEWS
    • METRO
    • HEALTH
    • EDUCATION
    • LAW
    • AFRICA
    • SCIENCE & TECH
    • AGRICULTURE
    • LABOUR MATTERS
    • WORLD
  • POLITICS
  • BUSINESS
    • AVIATION NEWS
    • BANKING AND FINANCE
    • CAPITAL MARKET
    • COMMERCE AND INDUSTRY
    • ENERGY
    • MINES AND STEEL
    • PROPERTY
  • SPORTS
    • FOOTBALL
    • ATHLETICS
    • TENNIS
    • GOLF
    • BASKETBALL
    • WRESTLING
    • OTHER SPORTS
  • FEATURES
    • E-PAPER
    • FOR THE RECORD
    • INTERVIEW
    • CRIME
  • ENTERTAINMENT
    • MUSIC
    • INSIDE NOLLYWOOD
    • MOVIES
    • LIFE AND CULTURE
    • ARTS
    • KANNYWOOD
  • OPINION
    • LETTERS
    • ISSUES
  • COLUMNS
    • MONDAY COLUMN
    • TUESDAY COLUMN
    • WEDNESDAY COLUMN
    • THURSDAY COLUMN
    • FRIDAY COLUMN
    • SATURDAY COLUMN
    • SUNDAY COLUMN
  • OTHERS
    • EDITORIAL
    • LEADERSHIP HAUSA
    • RELIGION
    • VIDEOS
    • PHOTO GALLERY
    • ADVERTISE WITH US
    • CONTACT US
No Result
View All Result
Leadership Newspaper
No Result
View All Result
ADVERTISEMENT
Home NEWS COVER STORIES

W’Bank, AfDB Blacklist 15 Nigerian Companies, 9 Individuals

2 years ago
in COVER STORIES, Featured, NEWS
3 min read
World Bank Advises Investment In Resilient Infrastructure
0
SHARES
0
VIEWS
SendShareShare on FacebookTweet this
Zenith Account Opening

The World Bank and the African Development Bank (AfDB) have blacklisted 15 Nigerian firms doing businesses with them.

Also, nine Nigerians nationals for various forms of procurement malpractices have been blacklisted by the global and continental financial institutions.

An online news medium, PREMIUM TIMES reported yesterday that AfDB had announced the debarment of a construction company (name withheld) registered in Nigeria. The company’s managing director was also debarred for 36 months beginning from May 5, 2019 to May 13, 2022.

ADVERTISEMENT

The bank said that an investigation conducted by its Office of Integrity and Anti-Corruption established that the Nigerian firm like the 14 others already sanctioned by it, engaged in fraudulent practice while bidding for a construction contract under the Agricultural Transformation Agenda Support Programme Phase One in Nigeria (ATASP-1).

ATASP-1 is financed under the African Development Fund administered by the African Development Bank Group.

samndaads
samndaads

“While participating in a tender for the construction of social infrastructure in Niger State, the company, misrepresented its experience in conducting similar construction contracts,” the AfDB said.

“The debarment renders the company and its managing director ineligible to participate in bank-financed projects during the debarment period.”

The debarment, AfDB explained, qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Recognition 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.

The Nigerian companies and individuals are part of an infamous club of 912 firms and personalities across the world which remained temporarily blocked from bidding for contracts by multilateral development banks.

AFDB said that sanctions were usually “imposed on entities found to have participated in coercive, collusive, corrupt, fraudulent or obstructive practices under the bank’s sanctions system or adopted under the Agreement for Mutual Enforcement of Debarment Decisions.

“Flowing from its mandate, the Bank Group has a fiduciary and legal duty to ensure that funds are used for the purposes for which they were intended,” it said of its sanction regime.

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

The Office of Integrity and Anti-Corruption of the African Development Bank Group is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.

The investigation that led to the indictment of the construction firm was conducted by AfDB’s Esther Mhone and Justin Maenje.

While the company and its managing director are accused of misrepresenting their firm’s experience during a procurement process, the specific offences committed by the remaining 14 and eight individuals remained unclear. But the wrongdoings are all fraud related.

The firms and individuals remain ineligible to participate in contracts financed or administered by the World Bank and the African Development Bank Group for the periods stipulated against their names.

The World Bank was set up as a vital source of financial and technical assistance to developing countries around the world. It has two goals which it aims to achieve by the year 2030.

They include ending extreme poverty by decreasing the percentage of people living on less than $1.90 a day to no more than three per cent and promoting shared prosperity by fostering the income growth of the bottom 40 per cent for every country.

The African Development Bank (AfDB) Group aims to reduce poverty, and spur sustainable economic development and social progress in its member countries. Nigeria’s Akinwunmi Adesina is its current President.

Tags: African Development Bank (AfDB)World Bank
SendShareShareTweetSharePin
Previous Post

Christine Lagarde Resigns As IMF MD

Next Post

FG, Workers Head For Showdown Over New Minimum Wage

Related Posts

covid

Covid 19: Leaders, Health Workers Of Border Communities Sensitized In Sokoto.

12 mins ago
Freed Abducted Pastor Rekindles Our Hope On Remaining Chibok Girls – Spokesman

Freed Abducted Pastor Rekindles Our Hope On Remaining Chibok Girls – Spokesman

22 mins ago
Governor Ayade: A visioner @53

Ayade To NIPR: Set Limit Between Lobbying, Corruption

31 mins ago
wike

Fire Incidents: It’s Time To Reciprocate Wike’s Gestures –Eze Tells Ortom, Tambuwal

39 mins ago
Uzodimma Set To Reposition Imo As South East Economic Hub, Says APC Chieftain

Imo  Moves To Enhance Enforcement  Of COVID-19 Safety Protocols

2 hours ago
Jigawa House Of Assembly To Pass Child Rights Bill- Official

Just In: Imo Lawmakers Impeach Majority Leader

3 hours ago
Next Post
NLC

FG, Workers Head For Showdown Over New Minimum Wage

PMB Hits Back At Obasanjo, Says Criticisms Unpatriotic

LATEST NEWS

covid

Covid 19: Leaders, Health Workers Of Border Communities Sensitized In Sokoto.

March 4, 2021
Freed Abducted Pastor Rekindles Our Hope On Remaining Chibok Girls – Spokesman

Freed Abducted Pastor Rekindles Our Hope On Remaining Chibok Girls – Spokesman

March 4, 2021
Governor Ayade: A visioner @53

Ayade To NIPR: Set Limit Between Lobbying, Corruption

March 4, 2021
wike

Fire Incidents: It’s Time To Reciprocate Wike’s Gestures –Eze Tells Ortom, Tambuwal

March 4, 2021
PMB , Osinbajo to be Vaccinated Saturday

PMB , Osinbajo to be Vaccinated Saturday

March 4, 2021
Edo Pays N469m As Premium For Govt Employees’ Life Insurance Cover

AIICO Pension Denies Alleged Mgt Of Funds

March 4, 2021
Uzodimma Set To Reposition Imo As South East Economic Hub, Says APC Chieftain

Imo  Moves To Enhance Enforcement  Of COVID-19 Safety Protocols

March 4, 2021
Jigawa House Of Assembly To Pass Child Rights Bill- Official

Just In: Imo Lawmakers Impeach Majority Leader

March 4, 2021
Native Talk Rolls Out Channel Partnership, B2B SIP Connect For Service Providers

Native Talk Rolls Out Channel Partnership, B2B SIP Connect For Service Providers

March 4, 2021
South West Leads In Insurance Adoption With N329bn Premium

Continental Reinsurance Appoints New GMD

March 4, 2021

Zenith Account Opening



ADVERTISEMENT
  • adverts@leadership.ng

© 2020 Leadership Newspaper

No Result
View All Result
  • HOME
  • NEWS
    • COVER STORIES
    • BREAKING NEWS
    • METRO
    • HEALTH
    • EDUCATION
    • LAW
    • AFRICA
    • SCIENCE & TECH
    • AGRICULTURE
    • LABOUR MATTERS
    • WORLD
  • POLITICS
  • BUSINESS
    • AVIATION NEWS
    • BANKING AND FINANCE
    • CAPITAL MARKET
    • COMMERCE AND INDUSTRY
    • ENERGY
    • MINES AND STEEL
    • PROPERTY
  • SPORTS
    • FOOTBALL
    • ATHLETICS
    • TENNIS
    • GOLF
    • BASKETBALL
    • WRESTLING
    • OTHER SPORTS
  • FEATURES
    • E-PAPER
    • FOR THE RECORD
    • INTERVIEW
    • CRIME
  • ENTERTAINMENT
    • MUSIC
    • INSIDE NOLLYWOOD
    • MOVIES
    • LIFE AND CULTURE
    • ARTS
    • KANNYWOOD
  • OPINION
    • LETTERS
    • ISSUES
  • COLUMNS
    • MONDAY COLUMN
    • TUESDAY COLUMN
    • WEDNESDAY COLUMN
    • THURSDAY COLUMN
    • FRIDAY COLUMN
    • SATURDAY COLUMN
    • SUNDAY COLUMN
  • OTHERS
    • EDITORIAL
    • LEADERSHIP HAUSA
    • RELIGION
    • VIDEOS
    • PHOTO GALLERY
    • ADVERTISE WITH US
    • CONTACT US

© 2020 Leadership Newspaper

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add Leadership Newspaper to your Homescreen!

Add
Go to mobile version
pixel