Skip to content

Live On Air

🎧 Listen Live 🔴

  • Home
  • Classic TV
  • Shows
  • The Crew
  • News
  • Events
  • Competitions

World Bank Sanctions Nigerian Firms and CEO for Corruption

News

The World Bank Group has imposed a 30-month debarment on two Nigerian firms—Viva Atlantic Limited and Technology House Limited—and their CEO, Mr. Norman Didam, for unethical practices linked to the National Social Safety Nets Project.

The project, aimed at aiding vulnerable households in Nigeria, was compromised during a 2018 procurement and contract process. According to a statement issued Monday, the companies misrepresented conflicts of interest, accessed confidential tender information, falsified experience records, and offered inducements to project officials.

“These actions constituted fraudulent, collusive, and corrupt practices under the World Bank’s Anti-Corruption Framework,” the statement read.

The debarment bars the companies and Didam from participating in World Bank-financed projects during the sanction period. As part of a settlement agreement, they admitted culpability and committed to compliance measures, including ethics training and enhanced internal policies.

The sanctions, reduced due to cooperation during investigations and voluntary corrective actions, are eligible for cross-debarment by other development banks. The World Bank emphasized its zero-tolerance policy on corruption and underscored the importance of integrity in development initiatives.

More Posts

Robert Francis Prevost Becomes First American Pope, Takes Name Leo XIV

Read More »

Senate Approves Two Tax Bills, rejects 10% VAT Proposal

Read More »

“Truth Does Not De-market a Nation” — Peter Obi Responds to Criticism

Read More »

Nigeria, Brazil Move to Finalize Direct Air Service Agreement

Read More »
  • 2025 Copyright © Megalectrics Limited
  • Privacy Policy
  • Terms
Facebook-f Instagram Twitter Youtube
Facebook-f Instagram Twitter Youtube
  • Copyright © 2022 Megalectrics Limited
  • Listen Live

Live On Air

  • About Us
  • Shows
  • The Crew
  • News
  • Contact Us
  • Advertise with Us

Classic 91.1 FM

Port-Harcourt

We are located at Megalectrics Limited, 4th Floor – Left Wing, Genesis Centre, 35, Tombia Street, GRA Phase 2, Port Harcourt. Rivers State. Nigeria

  • Abuja
  • Lagos
  • Privacy Policy
  • Terms
  • 2025 Copyright © Megalectrics Limited
Facebook-f Instagram Twitter Youtube
  • Listen Live

Live On Air

  • Home
  • News
  • Shows
  • The Crew
  • About Us
  • Contact Us
  • Advertise with Us
Facebook-f Instagram Twitter Youtube
  • Privacy Policy
  • Terms
  • Copyright © 2022 Megalectrics Limited