World Bank Uncovers $32 Million in Unaccounted Payments in Nigeria's Water Project

The World Bank recently identified $32 million in unaccounted payments within a Nigerian water infrastructure project, as outlined in its FY2024 Sanctions System Annual Report. These funds, initially allocated to support Nigeria's water infrastructure, were reportedly not fully accounted for, prompting the World Bank’s intervention to uphold project integrity.

The report states, “INT followed up on risks identified regarding a project in Nigeria’s water sector and flagged to operations the risk, which was associated with $32 million of unaccounted funds.” In response, the World Bank collaborated with the project team, including Nigeria’s operations manager, financial management expert, and task team leader, to address the issue and recover funds.

Of the $32 million flagged, approximately $6 million remains in the project account to cover ongoing operating costs. The Central Bank of Nigeria has requested the reimbursement of $22 million, according to the report.

This action underscores the World Bank’s commitment to accountability and transparency in managing infrastructure projects, as the organization works closely with Nigeria’s financial management team to resolve the discrepancies.