JUST IN: High Ranking Nigerian Suspended By World Banks For Bribery
The World Bank has sanctioned SoftTech IT Solutions and Services Limited, a Nigerian information technology solutions company, and its Managing Director, Isah Kantigi.
According to POLITICS NIGERIA, they were suspended as part of Nigeria’s National Social Safety Nets Project due to alleged corruption.
Kantigi was sentenced to 60 months in prison, while the corporation was sentenced to 50 months.
As a result of this judgment, both the company and Kantigi are no longer allowed to engage in World Bank Group-funded projects and operations.
In related news, the World Bank forecasts that the number of poor Nigerians would reach 95.1 million by 2022.
In its poverty assessment report, titled “A Better Future for All Nigerians: 2022 Nigeria Poverty Assessment,” the bank stated this.
According to the research, the COVID-19 crisis is driving up Nigeria’s poverty rate, with more than 5 million people expected to fall into poverty by 2022.
With real per capita GDP growth negative in all sectors in 2020, the bank predicts that poverty will have worsened for the current poor, while those barely over the poverty line before to the COVID-19 crisis will likely slip into poverty.
