Lagos, May 8, 2026 – Shamseldeen Ogunjimi, the Accountant-General of the Federation, says Nigeria may reject World Bank loan if delays in approval and disbursement persist.
Ogunjimi gave the warning during a courtesy visit by a World Bank delegation led by Mrs Treed Lane.
He said the delays could undermine the country’s willingness to proceed with such arrangements.
Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, disclosed this in a statement on Friday.
“If approvals take more than six months, the Nigerian Government may no longer honour such arrangements,” the accountant-general said.
He advised the team that Nigeria should no longer be subjected to prolonged approval processes that could affect project execution timelines and broader development objectives.
Ogunjimi urged the World Bank to expedite the approval and disbursement of project funds to Nigeria since the loans carry repayment obligations which had made it imperative that disbursement processes should align with project schedules and fiscal planning frameworks.
He said his office had addressing some key issues raised earlier by the World Bank, particularly in public financial management and audit reporting.
Ogunjimi said the 2023 Audit Report would be submitted to the Office of the Auditor-General for the Federation within two weeks, while work on the 2024 and 2025 audit reports was already underway.
.
