Nigeria Threatens to Halt World Bank Loans Over Delays

The Nigerian government, represented by Dr. Shamseldeen Ogunjimi, the Director of the Office of the Auditor General of the Federation (OAGF), has issued a warning to the World Bank regarding the approval of loans.

Ogunjimi stated that the government would no longer honor loans that are delayed beyond six months, emphasizing the importance of timely disbursement to support Nigeria's development priorities. This statement was made during a courtesy visit from a World Bank delegation led by Treed Lane.

Ogunjimi highlighted that prolonged approval processes undermine the government's interests and that Nigeria deserves timely consideration of its funding requests. He also addressed critical issues raised earlier by the World Bank concerning public financial management and assured the delegation that actions were being taken to improve the situation.

Additionally, Ogunjimi mentioned ongoing efforts to digitize financial management systems to enhance efficiency in service delivery.