LATEST UPDATES
Card-image-cap

Business | Doing Business in Nigeria

World Bank Suspends Its Doing Business Report, Investigates Data Irregularities

Aug 28, 2020   •   by   •   Source: Proshare   •   eye-icon 1501 views

Friday, August 28, 05:22 AM / by World Bank Group HeaderImage Credit: World Bank Group


 Proshare Nigeria Pvt. Ltd.


 

TheWorld Bank Group today issued the following statement on the Doing Business Report:

 

Over the 17 years of its existence, the Doing Business reporthas been a valued tool for countries seeking to measure costs of doingbusiness. Doing Business indicators and methodology are designed with nosingle country in mind, but rather to help to improve the overall businessclimate.

 

A number of irregularities have been reported regarding changesto the data in the Doing Business 2018 and Doing Business 2020 reports,published in October 2017 and 2019. The changes in the data were inconsistentwith the Doing Business methodology.

The integrity and impartiality of our data and analysis isparamount and so we are immediately taking the following actions:


  • We are conducting a systematicreview and assessment of data changes that occurred subsequent to theinstitutional data review process for the last five Doing Business reports.


  • We have asked the World BankGroup's independent Internal Audit function to perform an audit of theprocesses for data collection and review for Doing Business and the controls tosafeguard data integrity.

 

Wewill act based on the findings and will retrospectively correct the data ofcountries that were most affected by the irregularities.

 

The Board of Executive Directors of the World Bank has beenbriefed on the situation as have the authorities of the countries that weremost affected by the data irregularities.

 

The publication of the Doing Business report will be paused aswe conduct our assessment.

 

Related Links

  1. Nigeria Moves Up 15 Places To 131 In World Bank Doing Business Ranking For 2020
  2. World Bank Doing Business 2020 Report: Tackling Burdensome Regulation
  3. Doing Business 2020 Rankings: Nigeria Named One of The Top 20 Improvers
  4. Nigeria Drops 1 Place to Rank 146 Out of 190 Countries in 2019 World Bank Doing Business Report
  5. 2018 Sub-National Doing Business Report: Kaduna Is The Easiest Place to Enforce A Contract

Proshare Nigeria Pvt. Ltd.


Related News

1.     CAMA 2020Netting Provisions: Game Changer for FMDQ Derivatives and Central CounterpartyAgenda

2.    CAMA 2020: Snapshot of the Key Amendments to the Act

3.    A Regulatory Friendly Business Environment Will AttractMore Investments for MSMEs - Ayo Bankole

4.    CAMA 2020: Reforming Provisions That Impact The NigerianBusiness Community

5.    President Buhari Signs the Companies and Allied MattersBill, 2020

6.    Ayokunnu Ojeniyi to speak on EBES, NAP 5.0 and ImprovingNigeria's Business Environment

7.    ICRC Announces the Commencement of Operations of the NII3P

8.    FGN to Hold Stakeholders Consultation Webinar on HighwaysPPP Program

9.    Zainab Ahmed,Fashola To Speak At Turkey-Nigeria PPP Knowledge Webinar

10. Why the ICRC Act is important for effective PPPs' andEnforcing the Sanctity of Contracts - Udofia

11.  Ahead of Tomorrow on WebTV: Discussions on Doing Businessand Sanctity of Contracts in Nigeria

12. Liquidity and Safety of Staff top Nigeria BusinessesCOVID-19 Concerns - PwC Survey

13. PEBEC To Focus On Agribusiness, Creative Industry, Tech,Light Manufacturing In 2020

14. PEBEC 3.0 Awards: Proshare, CBI, FIRS, NAFDAC OthersReceive Recognition

15. Senate Passes the CAMA Bill 2020


    Proshare Nigeria Pvt. Ltd.


    Proshare Nigeria Pvt. Ltd.

    Get the App

    apple-store  play-store

    Connect with us


    Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.