Amin Moussalli, Founder and Chief Executive Officer of AIM Consultants, a construction and communications firm and owners of Cool Fm, Wazobia Fm, Nigeria Info, Arewa Radio, Cool TV and Wazobia TV, has joined the growing list of Nigerian CEOs whose firms have been banned by World Bank from participating in projects and operations financed by it.
Amin was handed a 34-month ban for making improper payments to the tune of $45,000, about N13 million, to project officials during the implementation of two World Bank financed consultancy services contracts costing $908 million.
Amin allegedly made the transfer to the personal account of two resident engineers for onward transfer to various project officials, an act that constitutes a corrupt practice under the World Bank’s Consultancy Guidelines.
After the 34-month ban ends, the sanction will be converted to an 18-month conditional restoration, if he still wants to continue to be a consultant. He will also be expected to undergo training in corporate ethics, which demonstrates commitment to personal integrity and business ethics, as well as implementing an integrity compliance programme that reflects the principles set out in the World Bank Group Integrity Compliance Guidelines.
This won’t be the first time Amin and one of his companies will be in the eye of the storm for alleged sharp practices.
In 2015, his confectionery shop, Chocolate Royale, was shut down by the National Agency for Food and Drug Administration and Control over the use and storage of expired and dangerous products to prepare food and confectioneries for the unsuspecting public to buy, as alleged.
Acting on a tip off and complaints of violation, the agency also sealed off the residence of the company’s managing director in Victoria Island, Lagos after a thorough search and confiscation of frozen products worth several millions of naira and deemed to be unsafe for consumption, which were stored in illegal cold-rooms at their MD’s residence.
At the end of the operation, unsafe products worth more than N1 billion were seized. But after adhering to sanctions handed to it by NAFDAC, the place was reopened for business a few months after.
A naturalised citizen of Nigeria, Amin was born in Lebanon, but his family migrated to the United States with his family. His grandfather is from Northern Iraq while his father was born in Palestine. His wife’s grandfather migrated to Nigeria from Lebanon. Mousalli came to Nigeria from the United States of America in 1976 when his wife wanted to spend Christmas with her parents. After his experience he decided to settle in Nigeria with his family.
Other Nigerian CEOs banned by the World Bank for alleged fraud and corrupt practices include, Fela Amosu, owner of Sargittarius Nigeria limited and Sargittarius Henan Water Conservancy Engineering Limited; Christopher Osuala and Christine Osuala, owners of Maxicare Company Nigeria Limited; Egbe Asikong, Imoke Asikong, Rosemary Akabudike and Nelson Elemi, owners of Asbeco Nigeria Limited, to mention only a few.
