THE WORLD BANK HAS UNCOVERED $32M IN UNACCOUNTED FUNDS WITHIN A NIGERIAN WARER SECTOR PROJECT, SPARKING CONCERNS OVER POTENTIAL EMBEZZLEMENT AND MISMANAGEMENT. (PHOTO).

-


 The World Bank has uncovered $32 million in unaccounted funds within a Nigerian water sector project, sparking concerns over potential embezzlement and mismanagement.


According to the FY2024 Sanctions System Annual Report, the Bank’s Integrity Vice Presidency (INT) identified these discrepancies through a forensic review.


The missing funds, intended to improve water infrastructure, raised alarms, leading to interventions to protect the project’s integrity.


In response, the World Bank collaborated with the project team, including Nigeria’s Task Team Leader, Operations Manager, and Financial Management Specialist, to address the issue.

Comments

Post a Comment

Popular posts from this blog

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma ...
Read more

TINUBU ANNOUNCES ARRIVAL OF 4 U.S ATTACK HELICOPTERS. (PHOTO).

-
Image
 Tinubu announces arrival of 4 US attack helicopters President Bola Tinubu has stated that four attack helicopters will soon arrive in the country from the United States amid rising insecurity. Speaking at a meeting with a delegation of the Christian Association of Nigeria, led by its President, Archbishop Daniel Okoh, at his Lagos residence, on Friday, Dec. 26, Tinubu revealed that the Federal Government had ordered four attack helicopters from the U.S, adding that they will arrive in the country “soon”. He said: “Our orders for four attack helicopters from the United States of America will take some time to arrive. We have approached Turkey for assistance.” The President, however, stated that the delays were affecting the public’s perception of the administration’s commitment to addressing the security challenges. He also said community and state police will become a reality. “Community and State Police will be a reality once the National Assembly completes the required legislati...
Read more