- Once again, another Nigerian company has been barred by the World Bank for bribery and corruption
- World Bank in a report published on its website named the new Nigerian company in its bad book as SoftTech IT Solutions and Services Ltd
- The company is found to have given money to World Bank officials in connection to its National Social Safety Nets Project in Nigeria
Isah Kantigi and his company, SoftTech IT Solutions and Services Ltd., will not be able to get contracts from World Bank for alleged corrupt practices.
Kantigi whose company is involved in the National Social Safety Nets Project was sanctioned for 60 months while his firm was sanctioned for 50 months, TheCable reports.
The Bretton Woods institution said the company and the MD will be ineligible to participate in contract procedures for the periods indicated.
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This was contained in a statement titled World Bank Group debars SoftTech IT Solutions and Services Ltd and its managing director, which was published on the bank’s website on Wednesday, 30 March 2022.
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The statement read in part:
“The World Bank Group today announced the 50-month debarment of SoftTech IT Solutions and Services Ltd., an information technology solutions company based in Nigeria, and the 60-month debarment of its managing director, in connection with corrupt practices as part of the National Social Safety Nets Project in Nigeria.
“The debarments make SoftTech and Mr Isah Kantigi, a Nigerian national, ineligible to participate in projects and operations financed by the World Bank Group.”
The World Bank said the firm and the managing director were sanctioned for improper payments made to certain project officials Punch reports added.
Not the first
In the last 20 years, World Bank has banned 55 Nigerian companies for various procurement offences.
Out of these, 14 companies were barred for 999 years over fraud and contract violations.
World Bank raises concern Nigerians are facing generation poverty
In other news, World Bank has raised concern that rising food prices could push 6 million more Nigerians into poverty
The international organization also highlighted that many Nigerians who are struggling to live have been making decisions that could have a negative effect on their generation.
The federal government was therefore challenged to create social security programmes that could reach more poor and vulnerable.