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World Bank bans two Nigerian firms, CEO over corruption scandal

by Present Nigeria
January 22, 2025
in Business
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Many Non-poor Nigerians At Risk Of Poverty- World Bank
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The World Bank Group has imposed a 30-month debarment on two Nigerian firms, Viva Atlantic Limited and Technology House Limited, along with their Managing Director and CEO, Norman Didam, for engaging in fraudulent, collusive, and corrupt practices.

The sanctions stem from unethical activities during the National Social Safety Nets Project (NSSNP) in Nigeria. The project, aimed at providing financial assistance to vulnerable households, was compromised during the 2018 procurement and contract process.

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A statement released on Monday, January 20, detailed the infractions: “According to the facts of the case and the general principles of the World Bank’s Anticorruption Framework, in connection with a 2018 procurement and subsequent contract, Viva Atlantic Limited, Technology House Limited, and Mr. Didam misrepresented a conflict of interest in the companies’ Letter of Bids and received confidential tender information from public officials, which constituted fraudulent and collusive practices, respectively.

“Further, Viva Atlantic Limited and Mr. Didam misrepresented Viva Atlantic Limited’s experience and submitted falsified manufacturer’s authorization letters, as well as offered and provided things of value to project public officials. These actions were fraudulent and corrupt practices, respectively.”

“Further, Viva Atlantic Limited and Mr. Didam misrepresented Viva Atlantic Limited’s experience and submitted falsified manufacturer’s authorization letters, as well as offered and provided things of value to project public officials. These actions were fraudulent and corrupt practices, respectively.”

The debarment prevents the firms and their CEO from participating in World Bank-financed projects for the duration of the penalty. Reduced debarment periods were granted due to their cooperation during the investigation, voluntary corrective measures, and time elapsed since the violations.

The settlement agreement requires Norman Didam to undergo ethics training, while the companies must strengthen their compliance policies and adopt corporate ethics programs aligned with the World Bank’s Integrity Compliance Guidelines.

The debarments are also subject to cross-debarment by other multilateral development banks under the 2010 Agreement for Mutual Enforcement of Debarment Decisions.

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PRESENT, a credible online newspaper from the cell of Red Carpet Communications Limited, is published by an experienced and profoundly resourceful journalist, Yemi Olowolabi.
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