The World Bank has barred six local firms from transacting business with it, including
engaging in any form procurement activity.
The affected organisations were accused of contradicting the World Bank’s procurement and consultant guidelines during the bank’s procurement for projects and programmes.
The bank listed the affected firms to include, Karitex Limited, Gurpreet Singh Malik limited, Kamal Sharda limited, Sharda Impex (U.K) limited, Shereena Agriculture Limited and Vikram Deepak Gursahaney Limited.
Among the barred firms, only Shereena Agriculture Limited is based in Kano State, the others are in Lagos.
Procurement guideline 1.15 of the bank stipulates that borrowers, suppliers, contractors as well as bidders should observe highest ethical standard and shun any fraudulent practices during procurement process.