World Bank discovers $32M missing from Nigeria's water project, suspecting embezzlement.

The World Bank has found $32 million in unaccounted funds in Nigeria's water project, raising concerns about embezzlement. A forensic review detected discrepancies, leading the bank to recommend recovery steps and the Central Bank of Nigeria to reimburse $22 million. Additionally, a Nigerian engineering firm and its director were barred for 1.5 years for fraud in another project.

November 17, 2024
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