The World Bank has released a list of 59 Nigerian companies and individuals barred from applying for its contracts due to corrupt practices and other procurement violations.
In a report released on its website, the World Bank noted that the affected companies, including firms connected to them, cannot apply for its contracts for a specific period.
Part of the World Bank notice reads:
Among the 59 companies affected, 35 ineligibility periods will end by 2999, about 975 years from 2024.
Also, three companies were added in 2024 for corrupt and fraudulent practices.
Here is a breakdown of some of the companies affected
The complete list can be downloaded here.
TimesNow.com.ng earlier reported that Tony Elumelu, the chairman of Heir Holdings, announced plans to list more of the companies on the Nigerian Exchange.
He made this known at a media briefing held in Lagos on Wednesday, August 28, to mark the 14th anniversary of Heirs Holdings.
He added that the group may consider listing in additional African markets when conditions are ideal.
Proofreading by James, Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
