The World Bank Has Blacklisted Six Chinese Companies Operating In Nigeria
Written by Smooth FM on August 20, 2019
The World Bank has blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption.
The companies, according to an announcement published on the World Bank’s website, are CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited.
Others are China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering Company Limited and CCECC Nigeria Lekki (FTA) Company Limited.
The six companies were among several firms from different parts of the world that were sanctioned by the bank.
The companies, which were accused of violating the global bank’s procurement guidelines, would not be eligible to be awarded any World Bank contracts between June 4, 2019 and March 3, 2020.
Although the specific cases involving the blacklisted companies were not disclosed, the World Bank explained that the firms were given an opportunity to respond to allegations brought against them.
The period of ineligibility of any of the sanctioned companies also extends to any firm directly or indirectly controlled by them, according to the World Bank.
SOURCE: The Punch