Friday, November 7, 2025
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

Stanbic IBTC Pension Managers Supports ART X Lagos 2025 to Celebrate African Creativity

As West Africa’s leading art fair, ART X Lagos, marks its...

NGX Reaffirms Leadership in Advancing Africa’s Islamic Finance Ecosystem

Nigerian Exchange Limited (NGX) has reaffirmed its leadership in...

Sovereign Trust Insurance CEO, Olaotan Soyinka, Preaches Caution, Safety in the Ember Months

Mr. Olaotan Soyinka, Managing Director of Sovereign Trust Insurance...

Lagride Launches Low-Cost Omni to Disrupt Korope Transport in Lagos

Lagos’ leading smart mobility platform has launched the Lagride...

Malta Guinness, TRACE Naija Energise Campuses Across Nigeria with “In The City” Tour

This year’s edition of the annual Trace In The...

Topics

CBN Targets N500-to-Dollar Exchange Rate

The Central Bank of Nigeria is subtly pushing...

UN Study: Digital Payments Boosts Tax Revenue by $500m Annually in Tanzania

A new study from the United Nations-based Better Than Cash Alliance provides findings...

African Dev Bank Wins Industry Gong for Pioneering 2019 Social Bond Issue

  Dr. Akinwunmi Adesina President African Development Bank The African Development Bank received...

CBN:  Emefiele Resumed Duty on Jan 16 After Annual Leave

A statement by Mr. Osita Nwanisobi, Director, Corporate Communications...

Nestle Nigeria Plc: Strong Revenue, Recovery of Gross Margin in Q2-18

According to Cordros Capital, NESTLE reported 56.9% y/y EPS...

SanlamAllianz Nigeria Unveils Nationwide Writing Competition

In a bold move to spark creativity, storytelling, and...

“Technology Critical to Africa’s Future as Global Player”, Says Continent’s Insurance Sector

  Adoption and development of emerging technologies across Africa...
spot_img

Related Articles

Popular Categories

spot_imgspot_img