WORLD BANK BLACKLISTS CHINESE COMPANIES IN NIGERIA FOR FRAUD, CORRUPTION

The World Bank on its website said the six companies were blacklisted and pronounced not eligible to be awarded any World Bank-Financed Contracts for at least a year, between June 4, 2019 and March 3, 2020.

Penpushing further reports that, World Bank on its website said the companies were accused of violating the provisions of the Procurement Guidelines, 1.16(a) (ii) bordering on fraud and corruption, but as at the time of this report, it was not clear what specific infractions the companies committed.

The World Bank sees the fraudulent practice as “any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain financial or other benefits, or to avoid an obligation.”

The policy is spelt out in the Procurement Guidelines and the Consultant Guidelines for projects executed before July 1, 2016; or through the World Bank Procurement Regulations for Investment Project Financing Borrowers for projects after July 1, 2016.

Penpushing also reports that, the bank’s policy requires borrowers, including beneficiaries of its loans, to observe the highest standard of ethics during the procurement and execution of bank-financed contracts, and in pursuit of this policy, the bank sees a corrupt practice as the “offering, giving, receiving, or soliciting, directly or indirectly, of anything of value to influence improperly the actions of another party.

The World Bank sees the fraudulent practice as “any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain financial or other benefits, or to avoid an obligation.”

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