APPRAISING THE WORLD BANK ROLE IN CURBING CORRUPTION IN FINANCED PROJECTS IN NIGERIA: TOWARDS EFFECTIVE USE OF NEUTRALITY CLOSE

As the world’s major finance Institution. the World Bank has a duty to concern itself with the successful flow and proper use of resources it gives to borrowing member States. Thus, it is practically impossible for the World Bank to separate itself from International development policy issues like corruption. The wide spread of corruption in any country has effects on the distribution of public and private funds for investment in such a Country. If the World Bank is going to take measures to ensure that the funds are used for the purpose(s) for which the borrowing Member takes the loan, then it has to ensure that the steps taken are consistent with the Articles of Agreement. This paper also seeks to find if the political neutrality clause is a setback to the Bank’s ability to control corruption in member states or if the bank has been able to find its way around the political neutrality clause in helping its members control corruption and alleviate poverty. It also examines the role of the Bank in aiding the use of funds for the purpose for which it was acquired in its financed projects in Nigeria, considering the prevalence of corruption in the country.