The World Bank has firmly denied allegations made by Nigeria’s Women Affairs Minister, Uju Kennedy-Ohanenye, claiming that the bank’s officials take 40% of every loan granted to Nigeria as consultancy fees.
The minister reportedly made these allegations, stating that she was being targeted for refusing to approve a $500 million World Bank loan for women’s projects.
In response to inquiries, Mansir Nasir, a senior external affairs officer at the World Bank, firmly rejected the minister’s claims. “World Bank staff do not receive 40% of project funds as ‘consultation fees,’ nor are ministers entitled to 5% of project funds for signing loan agreements. Both assertions are entirely false,” Nasir stated.
The World Bank recently approved a $500 million loan for the ‘Nigeria for Women Project’ (NFWP-SU), designed to enhance the livelihoods of women across Nigeria. This initiative, a partnership between the World Bank, the Bill and Melinda Gates Foundation, and the Nigerian government, will be implemented over five years, beginning in six pilot states representing each geopolitical zone.
Minister Kennedy-Ohanenye allegedly claimed that her life was “at stake” for refusing to sign the loan due to unclear terms and conditions. However, days later, the ministry refuted these reports, calling them “false” and stating that the president had approved restructuring the loan to eliminate unnecessary expenditures and ensure that the funds directly benefit the intended recipients.
The World Bank reiterated that its funded projects are implemented by recipient governments and adhere to strict policies to prevent fund misuse. Nasir also clarified that the recruitment of project staff is solely the responsibility of the government ministry overseeing the project, not the World Bank.
Newswire
