The African Development Bank has blacklisted at least forty companies and individuals in Nigeria.
Those affected, whose names were not mentioned, are alleged to committed acts of corruption, including fraud.
Information on the website of the AfDB indicates that the affected companies committed the acts between 2017 and 2021.
The AfDB said those affected were delisted based on the Agreement for Mutual Enforcement of Debarment Decisions from other global lenders.
Following the move, the companies and individuals will no longer be able to benefit from projects being funded by the AfDB.