Washington DC: The World Bank has suspended a Nigerian firm for bribery.

By The Advocate News

Washington Dc: World Bank Group headquarters entrance, modern glass building with street during evening sunset

SoftTech IT Solutions and Services Ltd. (SoftTech) was suspended for 50 months by the World Bank Group on Wednesday due to corruption allegations in the National Social Safety Nets Project.

Isah Kantigi, the company’s managing director, was also barred for 60 months by the Washington-based institution.

According to the bank, the debarment makes both Nigerian-born Mr Kantigi and SoftTech, a Nigeria-based information technology solutions company, ineligible to participate in bank-financed projects and operations.

The bank stated that its decisions are part of settlement agreements in which the company and Mr Kantigi acknowledged responsibility for the underlying sanctionable practices and agreed to meet specified corporate compliance conditions as a condition for debarment relief.

“The project’s goal is to provide access to

“As part of an expanded national social safety nets system, targeted cash transfers to poor and vulnerable households will be made,” the bank said.

SoftTech, acting under the direction of Mr. Kantigi, who is also the company’s Managing Director, served as the conduit through which he and the other individual consultants made payments to project officials, according to the World Bank.

According to the agreement, SoftTech received multiple payments from individual consultants into its bank accounts and then transferred the funds into the personal accounts of project officials, effectively acting as a financial intermediary for these consultants.

“According to the World Bank’s Anti-Corruption Guidelines, this is a corrupt practice,” the bank stated.