Wednesday, May 13, 2026
28 C
Lagos

World Bank Dumps Doing Business Report over Data Irregularities

The World Bank Group issued the following statement on the Doing Business report:

“Trust in the research of the World Bank Group is vital. World Bank Groupresearch informs the actions of policymakers,helps countriesmake better-informed decisions,andallows stakeholders to measure economic and socialimprovements more accurately.Suchresearch has also been avaluable toolforthe private sector,civil society, academia,journalists, and others, broadening understanding of global issues.

Afterdata irregularities on Doing Business 2018 and 2020 were reportedinternally in June 2020, World Bank managementpausedthe next Doing Business report andinitiateda series ofreviewsandauditsof the report and its methodology. In addition, because the internal reports raised ethical matters, including the conduct of former Board officials as well as current and/or former Bank staff, management reported the allegations to the Bank’s appropriate internal accountability mechanisms.

After reviewing all the information available to date on Doing Business, including the findings ofpast reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Groupmanagementhas taken the decision todiscontinue theDoing Business report. The World Bank Group remains firmly committed to advancing the role of the private sector in development and providing support to governments to design the regulatory environment that supports this. Going forward, we will be working on a new approach to assessing the business and investment climate. We are deeply grateful to the efforts of the many staff members who have worked diligently to advance the business climate agenda, and we look forward to harnessing their energies and abilities in new ways.”

spot_img
spot_img
spot_img

Hot this week

Leadway Assurance Partners FRSC to Reward Safety-Compliant Motorists Through ‘Arrive Alive Campaign’

L–R: Team Lead, Reinsurance, Specialty Risk & Global Client...

Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

By Goke Ilesanmi Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO, Repton Group,...

Mutual Benefits Delights Customers with ₦5.5bn April Claims Payout

Mutual Benefits Assurance Plc has announced the payment of...

Topics

Sanlam, aYo Partner to Provide Affordable Insurance for all Nigerians

L-R: Country Manager, aYo Nigeria, Kayode Odetola; Group Chief...

NCC, NAICOM, SEC, PenCom, Others for SUPERNEWS Conference April 27

SUPERNEWS Nigeria will on Thursday, April 27, 2023 bring...

MTN Unveils Brand Ambassadors for 2016-2017

In line with its commitment to supporting Nigerian musicians...

Nigeria Re Names Gbenga Falekulo as New CEO

  Mr. Gbenga Falekulo Managing Director/CEO Nigeria Reinsurance Corporation Mr. Gbenga Falekulo has...

NIA Breaks Ground for Building Project

The Nigerian Insurers Association (NIA), the umbrella body of...

Much Ado About Cybersecurity

By Elvis Eromosele These terms: cyberspace, cybercrime, cyberattacks and cybersecurity...

NDIC’s Achievements on Financial Inclusion Showcased at 2022 International Confab

The Nigeria Deposit Insurance Corporation (NDIC) plays a critical...

Airlines Financial Monitor—January 2O16

Key Points: · Worldwide airline share prices fell by 10%...
spot_img

Related Articles

Popular Categories

spot_imgspot_img