• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

World Bank blacklisting: CCECC reacts 

Joseph Olaoluwa by Joseph Olaoluwa
August 28, 2019
in Business News, Company News
CCECC World Bank blacklisted CCECC, 5 other Chinese firms, World Bank criticises CBN’s support for undercapitalised banks, lending directive, loans for MSMEs 
Share on FacebookShare on TwitterShare on Linkedin

China Civil Engineering Construction Corporation (CCECC) has reacted to the move made by the World Bank to blacklist it, saying it was a case of mistaken identity. 

In its rebuttal to the company’s appearance on the World Bank’s black book – a move that could suspend the company for nine months from World Bank contracts, CCECC responded that it was another construction company, China Railway Construction Corporation Limited (CRCC) that was referred to. 

[READ MORE: Nigeria’s foreign reserves shed $1 billion, biggest fall in 17 months] 

RelatedStories

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

July 4, 2025
World Bank, Tanzania

World Bank approves extra $65 million loan for Nigeria’s SPESSE project 

July 1, 2025

This was revealed in a statement which was released by the company.  

“Our attention has been drawn to several publications alleging that CCECC Nigeria Limited, amongst other companies, have been blacklisted by the World Bank. As confirmed by the World Bank, it was another construction company, CRCC that was blacklisted. The company was blacklisted for violating the World Bank’s Procurement Guidelines during the prequalification and bidding process. 

“The misconduct by the said company borders on submitting wrong information regarding personnel, equipment and experience during the prequalification and bidding process for a highway construction contract. This, according to the World Bank, and not corruption or fraud as sensationally reported by some media was the reason for the blacklisting.”. 

[ALSO READ: Gokada returns amidst price war, market expansion and government regulations]  

A close observation: Contrary to the claim of CCECC, a closer observation of World Bank’s explanatory notes on the blacklisted firms confirmed CCECC Nigeria Limited inclusion on the list of blacklisted offenders.  

No. 482 of the explanatory notes on pages 70 and 71 said, “This matter was resolved through a Settlement Agreement. 

“China Railway Construction Corporation Limited (CRCC) and its wholly-owned subsidiaries, China Railway 23rd Bureau Group Company Limited (CR23) and China Railway Construction Corporation (International) Limited (CRCC International), are debarred for nine months, to be followed by a 24-month period of conditional non-debarment. 

“This period of sanction extends to all affiliates that CRCC, CR23, and/or CRCC International directly or indirectly control, with the exception of China Railway 20th Bureau Group Company, and its controlled affiliates, which are exempted.”  

No place to hide: A World Bank source familiar with the process said the sanctions imposed on CRCC, by implication, “extends to all its affiliates and subsidiaries around the world it has direct and indirect control of, including CCECC and others in Nigeria. He also disclosed that the World Bank would not speak any further on the issue beyond the report on its website.” 

  The backstory: A Nairametrics report explained why 6 Chinese firms were blacklisted by the World Bank for engaging in corruption and fraud. The World Bank disclosed this in its publication titled ‘Procurement – World Bank Listing of Ineligible Firms and Individuals.’ 

The companies listed were: 

  • China Railway Construction (International) Nigeria Company Limited (CRCINCL), 
  •  China Railway 18th Bureau Nigeria Company Limited (CR18BNCL). 
  •  CCECC Nigeria Lekki FTA Company Limited,  
  • CCECC Nigeria Railway Company Limited 
  • CRCC Petroleum & Gas Company Limited 
  • CCECC Nigeria Company Limited 

 While the specific cases involving the blacklisted companies were not disclosed, the World Bank explained that the firms were given an opportunity to respond to the allegations brought against them. 

The firms are now ineligible for any World Bank-financed contract for at least nine months, between June 4, 2019, and March 3, 2020, as laid down in the bank’s guidelines. 

[READ FURTHER: Med-View Airline clears the air over operations suspension claim] 


Follow us for Breaking News and Market Intelligence.
Tags: CCECCCRCCWorld Bank
Joseph Olaoluwa

Joseph Olaoluwa

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Related Posts

World Bank Appoints Mathew Verghis as Country Director for Nigeria 
People

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

July 4, 2025
World Bank, Tanzania
Economy

World Bank approves extra $65 million loan for Nigeria’s SPESSE project 

July 1, 2025
Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms 
Economy

World Bank: Conflict, instability driving extreme poverty in Nigeria and 38 other economies 

June 27, 2025
President Bola Tinubu,
Economy

FG clarifies proposed $21.5 billion debt, taps World Bank, ADB, China, France, EU for new loan

May 27, 2025
World Bank: Food insecurity in Africa soars by 60% despite production gains 
Agriculture

World Bank: Food insecurity in Africa soars by 60% despite production gains 

May 27, 2025
World Bank, Tanzania
Economy

World Bank faults CBN’s OMO policy, says not working “effectively”  

May 14, 2025
Next Post
Flour Mills, 7 other quoted companies fined N14.3 million, Flours Mills Nigeria Plc issues N20 billion fixed rate bond, Flour Mills moves to diversify funding sources with N29.8 billion bond listing

Flour Mills, 7 other quoted companies fined N14.3 million

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 
  • EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 
  • FG adopts front-of-pack labelling to tackle diet-related diseases and cut NCD deaths

Follow us on social media:

Recent News

AfDB, AI

Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 

July 16, 2025
EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 

EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 

July 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics