Thursday, November 27, 2025
29.8 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

AIICO Launches All-in-One Financial Protection for Nigeria’s Underserved Population

L-R: Mr. Mike Eko – (Novus Agro Limited) Mr. Oluwatosin...

NNPC Declares ₦5.4tn Profit After Tax

NNPC Limited has announced its financial performance for the...

Stanbic IBTC Unveils Digital Lending Suite to Enhance Access to Credit

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

Ecobank Unveils SME Bazaar: A Festive Marketplace for Local Entrepreneurs

Ecobank Nigeria, a member of Africa’s leading pan-African banking...

Nuclear is Critical in Nigeria’s ESG Transition

Nigeria is entering a period of profound demographic and...

Topics

Danbatta Spotlights Centrality of Consumers to Telecoms Industry

  As the World Consumer Rights Day (WCRD) was celebrated...

Is OPEC Dead?

OPEC is 'finished' as cartel hands control of oil...

AfDB Plans $2m Jobs for Youth in Africa Strategy

The African Development Bank’s Fund for African Private Sector...

E/Guinea Launches 2016 Oil, Gas Licensing Round

Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE)...

MTN Digital TV Goes Live TODAY!

Nigerians Embraces Convergence as MTN launches Nigeria’s 1st converged...

Dangote Launches Graduate Rice Farming Project

A multi-million Naira Youth Farming Initiative that will engage...

Hilton Expands Nigerian Presence with 350-Room Hotel

Hilton has announced the signing of a management agreement...

Stanbic IBTC Insurance Hosts 2nd Annuitant Forum on Life in Retirement

Retirement is often viewed as a new beginning, an...
spot_img

Related Articles

Popular Categories

spot_imgspot_img