Sunday, May 24, 2026
26.4 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
spot_img

Hot this week

Oriental News Summit: Kola Adesina to Lead Dialogue on Nigeria’s Oil Industry Decarbonisation

 As Nigeria intensifies its drive toward net-zero emissions by...

Media Remains Nigeria’s Biggest Development Partner, Says BOI MD Olusi

The Managing Director/Chief Executive Officer of Bank of Industry,...

Stakeholders at Inspenonline Retirement Summit Advise Workers on Strategic Retirement Plan

L-R: Idu Okwuosa-Okeahialam, Group Managing Director/CEO, Royal Exchange Plc; Ibrahim...

NGX Group Advances Investor Education Drive with Digital Retail Engagement Initiative

Nigerian Exchange Group has intensified its investor education drive...

NLNG Train 7: A Catalyst for Nigerian Content, Industrial Growth

Nigeria LNG Limited (NLNG) says its Train 7 project...

Topics

FG: No Region Will Be Left Behind in Nigeria’s Development Drive

The federal government has stated that in Nigeria’s march...

AfDB Approves Policy on Non-Sovereign Operations

The Board of Directors of the African Development Bank...

Ozaremit, Africa’s New Top-Up Leader Accelerates Development

Ozaremit, a new top-up leader, accelerates its development only...

Malta to Chair 2016 Commonwealth ICT Ministers Forum

Engr. Shola Taylor, Secretary-General of the Commonwealth Telecommunications Organisation...

ADB Endorses $400bn Project to Transform Agriculture in Africa

The African Development Bank (AfDB) recently endorsed its “Feed...

Goldlink Insurance Restructures, Appoints Egbaranas as New CEO

Goldlink Insurance Plc has announced a recent change in...

Continuous Dialogue Critical to Tackling Telecoms Industry Challenges – Danbatta

  L- R: Engr. Bako Wakil, Director, Technical Standards and...
spot_img

Related Articles

Popular Categories

spot_imgspot_img