Tuesday, December 9, 2025
31.5 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

CBN Grants Licence to 82 BDCs under Revised Guidelines

The Central Bank of Nigeria (CBN) in exercise of...

NGX Chair: Media Coverage of Capital Market Key to Sustainable Growth

OPENING REMARKS BY THE CHAIRMAN, NIGERIAN EXCHANGE GROUP (NGX)...

Stanbic IBTC Bank Champions Economic Growth Through Strategic Partnership with AfDB

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings...

UBA Group Dominates 2025 Banker Awards, Emerges Africa’s Bank of the Year, For Third Time in Five Years

Africa’s Global Bank, United Bank for Africa (UBA) Plc,...

Wines of Canada Debuts in the Nigerian Market

Carl DIB Merchandising Limited, a leading company in the...

Topics

Ecobank, Terre des Hommes Launch Safe Savings Project to Empower Street Children Escape Poverty

Ecobank, the pan-African bank, is partnering with leading international...

Emirates Launches Air Bridge to Lebanon, Global Humanitarian Campaign

Airline will enable people around the world to donate...

Emirates, Air Peace Sign Interline Agreement, Expanding Travel Choices to 13 cities in Nigeria

Emirates, the world’s largest international airline, has signed an...

Unity Bank Customers Win Over N4m in Cashtoken Rewards Promo

Unity Bank customers have claimed over N4 million in...

BREXIT: Future of UK Airlines Remain Uncertain

Traditionally, aviation agreements have been negotiated on a bilateral...

Sovereign Trust Insurance 29th AGM Set for Sept 26

Sovereign Trust Insurance Plc has announced that the company’s...

Orange Unveils Entrepreneur Club for Start-ups in Africa, Middle East

Orange is launching the Entrepreneur Club, a new space...
spot_img

Related Articles

Popular Categories

spot_imgspot_img