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 Group research informs the actions of policymakers, helps countries make better-informed decisions, and allows stakeholders to measure economic and social improvements more accurately. Such research has also been a valuable tool for the private sector, civil society, academia, journalists, and others, broadening understanding of global issues.

After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, World Bank management paused the next Doing Business report and initiated a series of reviews and audits of 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 of past reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Group management has taken the decision to discontinue the Doing 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

FSI, NCC Empower Female Students in Northern Nigeria with Digital Skills, 15 Selected for Industry Internships

  Eight-week Fundamentals of Software Testing programme attracts 590...

NAICOM Chief, Segun Omosehin, Senator Abiru Inducted as Fellows of NCRIB

L–R: Mr. Olusegun Ayo Omosehin, Commissioner for Insurance; Mrs....

Polaris Bank Deepens Sustainability Commitment with Tree Planting at Lekki Conservation Centre

L-R: Mr. Uchenna Achunine, Director Business Dev & Partnership...

NAICOM: Brokers Remain Key Stakeholders in Insurance Growth, Penetration in Nigeria

L–R: Mrs. Ekeoma Ezeibe, FCIB, President of the Nigerian...

PRESIDENCY RESPONDS TO GOVERNOR MAKINDE’S CLAIM ON NLNG DIVIDENDS

The Presidency wishes to clarify Governor Seyi Makinde’s claim...

Topics

Online Voting Commences for Nominees of the Nigerian Healthcare Excellence Award 2024

The Nigerian Healthcare Excellence Award 2024 (NHEA) has officially...

CIIN President, Edwin Igbiti, Pays Courtesy Call on Sovereign Trust Insurance

L-R: Sanni Oladimeji, DGM, Risk Management and Compliance, Sovereign...

Emirates Brings Back Lagos, Abuja to its Route Network

Emirates has announced it will resume passenger services to...

Telecom M&A, Digital Convergence Lead Deal Activity in Africa

TMT Finance is teaming up with IHS Towers, the...

Stanbic IBTC: Working Towards Net Zero Emissions

As part of the Stanbic IBTC 2021 Sustainability Week...

MTN Secures Fintech Licence from CBN

MTN Nigeria has announced that its subsidiary, Yello Digital...

Stanbic IBTC to Empower MSMEs via Capacity Building Programs

Stanbic IBTC Bank Plc, a member of the Stanbic...

Access Bank Denies Allegation of Missing N500m

Our attention has been drawn to a video on...
spot_img

Related Articles

Popular Categories

spot_imgspot_img