Wednesday, April 9, 2025
28 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

Heirs Life Assurance Wins ‘Agency Company of the Year’ Award by CIFM

L-R: Yetunde Ayeni, Group Head, Resources, Heirs Insurance Group,...

Wafira Ntaba Partners Leadway Assurance to Launch Plan B Insurance, a Bespoke Product for Nigerian Women

Leadway Assurance, Nigeria's leading insurance provider, has partnered with...

Stanbic IBTC Bank Budgets N130m in 4th Season of Reward4Saving Promo

Stanbic IBTC Bank, a leading financial services provider in...

STI CEO, Soyinka to Nigerians: Cultivate a Culture of Insurance

The Managing Director and Chief Executive Officer of Sovereign...

Sterling Bank Champions Cancellation of Transfer Charges

In a landmark move that sets a new benchmark...

Topics

‘Insurance Sector Will Grow in 2017’

Mutual Benefits Assurance Plc recently celebrated its 21st anniversary...

Stanbic IBTC N15bn Infrastructure Fund Series II Offer Opens

Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC...

NAICOM, Kaduna State Partner on Compulsory Insurance

President, National Association of Insurance and Pension Correspondents (NAIPCO),...

Is EPE a Good Location to Buy Land?

By Dennis Isong For a long time, buying and selling...

Lufthansa Cargo to Off-load 800 Staff

German-based Lufthansa Cargo is planning to cut around 700-800...

Ochefu, Bala-Usman, Chukwu Line Up for GOCOP 2023 Conference

A line up of seasoned professionals are now ready...

MTN Plans FCFA140bn Expansion in Côte d’Ivoire

MTN Cote d’Ivoire said on 10 June, 2016 that...

Most Influential Global CEOs for World Business Forum in New York

“Mr. Emotional Intelligence”- Daniel Coleman The world’s indisputable authority on...
spot_img

Related Articles

Popular Categories

spot_imgspot_img