Amin Moussalli, the founder and chief executive officer of AIM Consultants, a construction and communications firm, owners of Cool Fm, Wazobia Fm, Nig
Amin Moussalli, the founder and chief executive officer of AIM Consultants, a construction and communications firm, 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 disbarred by World Bank from participating in projects and operations financed by it.
Amin was handed a 34 months disbarment for making improper payments to the tune of $45,000, about N13 million naira to project officials during the implementation of two World Bank financed consultancy services contracts costing $908 million. Amin made the transfer to two 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 months disbarment ends, the sanction of Amin and his company will convert to an 18 month conditional no debarment if he still wants to continue being a consultant. Amin will also be expected to undergo corporate ethics training that demonstrates commitment to personal integrity and business ethics as well as implementing an integrity compliance program 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 alleged use and storage of expired and dangerous products to prepare food and confectioneries for the unsuspecting public to buy.
The agency acting on a tip off, an avalanche of complaints of violation, willfully obstructing of NAFDAC operatives in the course of their duties, also sealed off the residence of the company’s managing director in Victoria Island, Lagos after a thorough search and carting away frozen products worth millions of naira, deemed unsafe for consumption and stored in illegal cold-rooms at their MD’s residence. At the end of the operation, unsafe products worth more than 1 billion naira was 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 in 1886. 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 who have been disbarred 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 etc.
