Full List: World Bank Bans Nigerian Companies From Applying for Its Contract for Next 900 Years

• The World Bank has banned several Nigerian companies and individuals from applying for its contracts
• A total of 59 Nigerian companies are listed for fraud and contract breaches, 3 of which were added in 2024
• Many of the firms, banned as far back as 2000, will not be able to apply for contracts for the next 900 years

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The World Bank has released a list of 59 Nigerian companies and individuals barred from applying for its contracts due to corrupt practices and other procurement violations.

In a report released on its website, the World Bank noted that the affected companies, including firms connected to them, cannot apply for its contracts for a specific period.

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Part of the World Bank notice reads:

"The firms and individuals listed are debarred and thus ineligible to participate in World Bank-financed contracts for the periods indicated.

"These entities are ineligible as a result of prohibited conduct defined in the applicable Procurement or Consultant Guidelines or in the World Bank Procurement Regulations for Investment Project Financing Borrowers."

Companies banned for life

Among the 59 companies affected, 35 ineligibility periods will end by 2999, about 975 years from 2024.

Also, three companies were added in 2024 for corrupt and fraudulent practices.

Here is a breakdown of some of the companies affected

Companies, individuals banned in 2024, and expiration date

• Mr. Akuboh Victor Uneojo - 2026
• Diyokes Consultants Limited - 2025
• Engr. Innocent O. Diyoke - 2025

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Companies prohibited for the next 900 years

• Mr. Mayor Ejiro Hasting
• Kenoster (Nigeria) Limited
• Mr. Ugochukwu Ezeh
• Mr. Robinson Ekenedilichukwu Ojoko
• Rojoke CNE Services Ltd.
• CNE Environmental & Waste Services Ltd.
• Emmajoko Nig Enterprises
• Mr. Henry Chinedu Ojoko
• Efemaz Construction and Ge. Services Limited
• Mr. Efe Michael Udumbraye
• Efemaz Construction and Ge. Services Limited
• Marabef Global Limited

The complete list can be downloaded here.

Nigerian billionaire set to list more companies

Legit.ng earlier reported that Tony Elumelu, the chairman of Heir Holdings, announced plans to list more of the companies on the Nigerian Exchange.

He made this known at a media briefing held in Lagos on Wednesday, August 28, to mark the 14th anniversary of Heirs Holdings.

He added that the group may consider listing in additional African markets when conditions are ideal.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng