Audit Failure Costs Nigeria $4m in World Bank Loan
Nigeria will forfeit $4 million from a World Bank loan after audit reports on the FIRS and Customs failed to meet global standards. The loss is part of the $103 million Fiscal Governance and Institutions Project. In total, $10.4 million in unachieved performance-based funds and uncommitted technical assistance has been cancelled ahead of the project’s June 30, 2025 closure.
