World Bank

World Bank blacklist six Chinese companies in Nigeria over fraud allegations

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,…

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World Bank President resigns three years to end of tenure

Jude Johnson The President of World Bank, Mr. Jim Yong Kim has announced his resignation, three years ahead of time. Kim on a statement on Monday said he would leave on February 1, 2019. He said: “It has been a great honor to serve as President of this remarkable institution, full of passionate individuals dedicated…

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Nigeria’s plan to redistribute recovered loot needs a rethink

Tolu Olarewaju The Nigerian government has announced that USD$322 million (£244 million) stolen by Nigeria’s former military ruler, Sani Abacha, has been returned by the Swiss authorities. Abacha, an army general who was head of state from 1993 until his death in 1998, is suspected to have embezzled between USD$3 to 5 billionof public money. Plans have also…

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The $321m Abacha loot: Much ado for nothing

By Sufuyan Ojeifo Nigeria must have had a swell Christmas if the provision of the Memorandum of Understanding (MoU) signed with the Swiss Federal Council and the World Bank on December 7, 2017 for the repatriation of princely $321 million Abacha’s loot confiscated by the court of Switzerland was activated. The provision, ipso facto, explicitly…

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World Bank blacklist six Chinese companies in Nigeria over fraud allegations

World Bank President resigns three years to end of tenure

The $321m Abacha loot: Much ado for nothing

World Bank writes SERAP, says can’t find more information on Abacha loot

Nigeria’s finance minister Kemi Adeosun explains government’s borrowing plan

Nigeria’s finance minister Kemi Adeosun explains government’s borrowing plan

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