Wednesday, November 26, 2025
24.9 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

Sovereign Trust Insurance Secures Board’s Approval to Raise N5bn Capital

Sovereign Trust Insurance Plc notifies its shareholders and the...

Stanbic IBTC Pension Managers Highlights Innovation at ART X Lagos

As ART X Lagos celebrated its tenth year, exploring...

Union Bank Unveils “Save & Gain” Campaign to Reward Smart Savers

Union Bank of Nigeria, one of Nigeria’s most trusted...

Fidelity Bank Reaffirms Support for Indigenous Oil, Gas Development

L – R: Executive Director -South, Mrs. Pamela Shodipo;...

Stanbic IBTC Pension Managers wins Best PFA Nigeria 2025 at Global Banking & Finance Awards

With a legacy built on trust, innovation, and results,...

Topics

African Free Trade Body Laments Low Regional Integration

The African Continental Free Trade Area (AfCFTA) marks a...

Dell Unveils New Future-Ready Servers to Boost SME Productivity

End-to-end IT solutions provider, Dell, has unveiled the newest additions to its highly successful Dell PowerEdge 13th generation servers , created to help small and midsize enterprises (SMEs) prepare for future growth. The new Dell PowerEdge servers include the PowerEdge R330 and R230 rack servers and the PowerEdge T330 and T130 tower servers.

Continental Re: 9th Pan-African (Re)Insurance Journalism Awards for April 12

Continental Reinsurance Plc is delighted to unveil the confirmed...

Nigeria’s Telecom Contribution to GDP Hits 16% – Danbattah

L-R: Executive Commissioner, Technical Services, Nigerian Communications Commission (NCC), Ubale...

Sanlam Life Donates Items to 5 Orphanages in Jos

   L-R: Odinakachi Umekwe, Executive Director, Retail Distribution, Sanlam Life...

Polaris Bank, NCF Expand Tree Planting Drive to Lagos, Ogun, Kaduna States

Polaris Bank, in partnership with the Nigeria Conservation Foundation...

Local Bourse Extends Losses into 2nd Consecutive Session

In today’s session, sustained sell pressures amidst weak investor...

Nigerian, Shola Taylor Appointed Secretary-General of CTO

A Nigerian, Shola Taylor has been appointed secretary-general of the Commonwealth Telecommunications Organisation (CTO), an international treaty organisation headquartered in London. Mr Taylor is expected to start in this new role on 17 September this year. A Nigerian citizen, Mr Taylor is currently the chief executive officer of Kemilinks International, a global ICT consultancy firm based in Lagos. A telecommunications engineer by training, he brings to the CTO over 35 years of global experience in ICTs with government and the private sector. Previous positions held include regional director for Africa at Inmarsat (1994 - 1999), space technology coordinator for developing countries at the International Telecommunication Union (ITU, 1993 - 1994) and project director, also at the ITU (1987 - 1993).
spot_img

Related Articles

Popular Categories

spot_imgspot_img