The World Bank Group has explained why it announced a 30-month debarment of two Nigerian companies, including Viva Atlantic Limited and Technology House Limited.
The Washington-based bank disclosed this in a statement issued on Monday.
The ban also affected their Managing Director and Chief Executive Officer, Mr. Norman Didam.
The World Bank said the companies and their CEO were banned for fraudulent, collusive, and corrupt practices linked to the National Social Safety Nets Project in Nigeria.
Accordingly, the bank explained that the project aimed to provide targeted financial assistance to poor and vulnerable households, which was compromised due to several unethical practices during a 2018 procurement and subsequent contract process.
“The World Bank Group today announced the 30-month debarment of two Nigeria-based companies—Viva Atlantic Limited and Technology House Limited—and their Managing Director and Chief Executive Officer, Mr. Norman Bwuruk…
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