World Bank Suspends Nigerian Firm, MD For Corrupt Practices
Business News, Latest Headlines Thursday, March 31st, 2022
(AFRICAN EXAMINER) – The World Bank has sanctioned SoftTech IT Solutions and Services Ltd., a Nigerian information technology solutions company, and its Managing Director, Mr Isah Kantigi, for alleged corrupt practices.
The firm, which was involved in the National Social Safety Nets Project, was sanctioned for 50 months while the managing director was sanctioned for 60 months.
This was contained in a statement titled ‘World Bank Group debars SoftTech IT Solutions and Services Ltd. and its managing director’, which was published on the bank’s website on Wednesday.
The statement read in part, “The World Bank Group today announced the 50-month debarment of SoftTech IT Solutions and Services Ltd., an information technology solutions company based in Nigeria, and the 60-month debarment of its managing director, in connection with corrupt practices as part of the National Social Safety Nets Project in Nigeria.
“The debarments make SoftTech and Mr Isah Kantigi, a Nigerian national, ineligible to participate in projects and operations financed by the World Bank Group.”
The World Bank said the firm and the managing director were sanctioned for improper payments made to certain project officials.
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