WASHINGTON, October 31, 2016 - The World Bank Group announced the debarment of Honeyomar Ventures Limited, following the company’s acknowledgment and cooperation with the World Bank’s Integrity Vice Presidency’s (INT) investigation of misconduct in a project in Africa. Under the Negotiated Resolution Agreement (NRA), the company acknowledged the submission of false audited financial statements in its bids for two contracts under a World Bank-financed infrastructure project in Nigeria.
Under the terms of the NRA, Honeyomar will be debarred for 18 months. The debarment of Honeyomar qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.
