The World Bank has banned two Nigerian companies, Viva Atlantic Limited and Technology House Limited, along with their CEO, Norman Didam, for 30 months due to corruption linked to the National Social Safety Nets Project, reports Digital TimesNG.
The World Bank disclosed in a statement on Monday, that the project aimed to provide targeted financial assistance to poor and vulnerable households was compromised due to several unethical practices during a 2018 procurement and subsequent contract process.
According to the bank, the companies misrepresented conflicts of interest, accessed confidential tender information, and submitted falsified documents during a 2018 procurement process. They also offered inducements to project officials, violating the World Bank’s anti-corruption policies.
As part of a settlement, the companies and Didam admitted wrongdoing and agreed to implement compliance measures. This includes ethics training for Didam and improved internal integrity policies for the companies.
The ban prevents them from participating in World Bank-funded projects and may extend to other global development institutions. The World Bank emphasized its commitment to transparency and accountability in development projects.
