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
spot_img
spot_img

Hot this week

Stanbic IBTC Asset Management: Financial Literacy is a Major Strategy for Young Nigerians

Financial literacy content aimed at young Nigerians has grown...

RMB, BOI at Signing of Landmark N274.18bn Inaugural Domestic Bond Issuance

L-R: Head, Debts Capital Markets, RMB Nigeria, Laju Atake;...

PenCom Engages Lagos State over Increase in Pension for Lagos State Retirees

The National Pension Commission (PenCom) acknowledges the concerns expressed...

The Nigeria Prize for Literature: Eze, Ifowodo, Oburumu in the Race for $100,000

The field has narrowed and the race for the...

Ecobank Unveils N20m InnovateX 2026 Opportunity for Young Nigerians

Ecobank Nigeria has called on young Nigerians, particularly students,...

Topics

Ifeoluwa Abiodun Emerges Winner of 2016 NSE Essay Competition

Miss Ifeoluwa Toluwanimi Abiodun, a 14 year old student of Babington Macauley Junior Seminary, Ikorodu, Lagos State, has emerged the winner of the 2016 edition of the NSE Essay Competition for Senior Secondary Schools students in Nigeria.

NGE Condemns N5m NBC Fine on Channels TV over IPOB Interview

The Nigerian Guild of Editors (NGE) condemns in strong...

Nigeria: 2018 GDP Forecast Climbs to 2.6%

The National Bureau of Statistics (NBS) released Q4:2017 Gross...

Stanbic IBTC Attracts N413bn Capital into Nigeria

Stanbic IBTC, a member of Standard Bank Group, in...

BREXIT: Future of UK Airlines Remain Uncertain

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

Diamond Bank Reports 78% Decline in Profit

Diamond Bank Plc published its audited FY: 2015 and...

‘Nigeria Must Empower Youths to Drive Inclusive Economic Growth’- Stanbic IBTC

Stanbic IBTC Holdings Chief Executive, Dr. Demola Sogunle, stated...
spot_img

Related Articles

Popular Categories

spot_imgspot_img