World Bank has meted sanctions on AIM Consultants Limited, the firm, which was involved in the Nigeria Erosion and Watershed Management Project, and its Managing Director (MD), Amin Moussalli.
Alleging corrupt practises, the international financial body, in a statement cited by BizWatch Nigeria, said the company and its MD would face its sanction for 52 months.
Moussalli and AIM Consultants were sanctioned by the World Bank for improper payment of N12.95 million to certain projects officials.
“The World Bank Group today announced the 52-month sanction of AIM Consultants Limited, a consultancy company based in Nigeria, and its Managing Director, Amin Moussalli, in connection with corrupt practices as part of the Nigeria Erosion and Watershed Management Project.
“The sanction consists of a 34-month debarment followed by an 18-month conditional non-debarment. The debarments make AIM Consultants and Moussalli ineligible to participate in projects and operations financed by the World Bank Group,” the statement read partly.
BizWatch Nigeria understands that the sanction came after settlement agreements under which the company and Moussalli acknowledge their responsibility for the corrupt practices and agreed to meet specified corporate compliance conditions before the end of the debarment.
After the 34-month debarment, the firm and its MD would, therefore, be able to participate in projects and operations financed by the World Bank, only as long as they comply with their obligations under the settlement agreement.
