WORLD BANK BANS TWO NIGERIAN FIRMS, CEO OVER CORRUPTION

The World Bank Group has announced the 30-month debarment of two Nigerian companies, Viva Atlantic Limited and Technology House Limited, alongside their Managing Director and Chief Executive Officer, Mr Norman Didam, for fraudulent, collusive, and corrupt practices linked to the National Social Safety Nets Project in Nigeria.

In a statement issued, the World Bank disclosed 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.

The bank said that Viva Atlantic Limited, Technology House Limited, and Didam misrepresented a conflict of interest in their bids and accessed confidential tender information from public officials.

It added that these actions constituted fraudulent and collusive practices under its Anti-corruption Framework.

The World Bank further noted that Viva Atlantic Limited and Didam falsified the company’s experience records, submitted fake manufacturer’s authorisation letters, and provided inducements to project officials, which it classified as corrupt practices.

These violations, according to the bank, undermined the integrity of the social safety net initiative designed to benefit Nigeria’s most vulnerable populations.

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