Monday, January 12, 2026
34.3 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

GOCOP Condoles with Former President on Death of Her Sister

The Guild of Corporate Online Publishers (GOCOP) has expressed...

Seven Issues That Will Define Nigeria’s Telecom in 2026

By Elvis Eromosele  In 2026, Nigeria’s telecommunications sector can no...

Heritage Bank: NDIC Declares N24.3bn 2nd Liquidation Dividend for Depositors

Following the revocation of the banking license of Heritage...

GCR Upgrades NEM Insurance Rating to AA+ on Sustained Profitable Growth, Stable Outlook

GCR Ratings (GCR) has upgraded NEM Insurance Plc’s national...

Topics

Red Star Express Reports N10.5bn Turnover

Pix from left: Auwalu Babura, Executive Director, Finance &...

Insurance PR Managers Seek Growth Path for Sector

Corporate affairs managers of insurance companies in Nigeria under...

Greater PH, Masta Services to Build Airport City Housing Project

L-R: EMMA OKAS WIKE – CHAIRMAN, BOARD COMMITTEE ON...

The 2025 Almond Insurance Industry Awards Now Open for Voting

L-R: Mr. Obinna Chilekezie, Secretary, 2025 Almond Insurance Industry...

African Free Trade Body Laments Low Regional Integration

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

Guild of Marine Surveyors to Hold 2nd Ogadina Memorial Lecture Aug 24

The President, Guild of Marine Surveyors, Wale Adetoro, says...

China Forex Reserves Fall $100bn in January

China’s foreign exchange reserves have fallen to their lowest...

NCDMB ES Counsels Heritage Energy, Indigenous Firms on Corporate Governance

L-R: Government Relations Advisor, Heritage Energy Operational Services Limited...
spot_img

Related Articles

Popular Categories

spot_imgspot_img