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

NAICOM Reaffirms Support for Takaful, Microinsurance Growth as Noor Takaful Nears 10th Anniversary

L-R: Dr. Usman Jankara Jimada, Deputy Commissioner Technical, NAICOM;...

BUA Foods Delivers Double Digit Profit as Margin Discipline Drives Growth

  Company advances long term expansion strategy with significant...

Leadway Sounds Alarm on African Swine Fever, Urges Farmers to Strengthen Biosecurity

As concerns grow over recent outbreaks of African Swine...

Ecobank Nigeria Launches Scaling Up!!! Podcast to Champion African Entrepreneurship, Business Growth

Ecobank Nigeria has launched Scaling Up!!!, its flagship business...

Leadway Assurance, CubeCover, Vitse Technologies Sign on as Official Partners for IMT 5.0

Insurance Meets Tech (IMT), West Africa’s premier platform for...

Topics

NCC, BPSR Partner on Digitisation of Govt Processes

From Left: Prof. Umar Danbatta, Executive Vice Chairman/Chief Executive Officer, Nigerian...

2025: Budget of Restoration: Securing Peace, Rebuilding Prosperity

By Tanimu Yakubu Director-General Budget Office of the Federation I am pleased...

MTN Unveils Brand Ambassadors for 2016-2017

In line with its commitment to supporting Nigerian musicians...

Sovereign Trust Insurance: N16.3bn Assets, N13bn Premium, N4bn Claims in 2021

Olaotan Soyinka Managing Director/CEO Sovereign Trust Insurance Plc Sovereign Trust Insurance Plc...

Google Shuts Down Online Insurance Business

It appears Google Compare’s grand experiment in online comparison...

FSI Marks 6 Years of Driving Innovation, Talent Development, Startup Growth Across Africa

Financial Services Innovators (FSI) has marked its sixth anniversary,...

NNPC GCEO Rallies Judiciary’s Support Against Crude Oil Theft

GCEO NNPC Limited, Mr. Mele Kyari (seated 3rd from...
spot_img

Related Articles

Popular Categories

spot_imgspot_img