The World Bank Group has announced the 30-month debarment of two Nigerian companies, Viva Atlantic Limited and Technology House Limited, along with their Managing Director and Chief Executive Officer, Mr. Norman Bwuruk Didam, over alleged fraudulent, collusive, and corrupt practices. The Washington-based institution disclosed this in a statement issued on Monday.
The debarment is linked to unethical practices during the procurement and contract processes of the National Social Safety Nets Project in Nigeria, an initiative designed to provide financial assistance to poor and vulnerable households. The World Bank stated that these unethical activities undermined the project’s objectives.
“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 Didam,” the statement read. It further explained that the ban resulted from fraudulent handling of the World Bank’s project in Nigeria.
The companies and their CEO were indicted following investigations into procurement activities conducted in 2018, which revealed significant breaches of ethical standards. The World Bank noted that these practices compromised the integrity of the project’s financial assistance goals.
Last year, the Nigerian government secured a $1.5 million loan from the World Bank to fund key economic reforms, including the removal of fuel subsidies and the introduction of comprehensive tax policies. However, the recent revelations have cast a spotlight on the management and accountability of funds tied to such projects.
