In this light, I view recent fiscal developments and the discussions surrounding the Stability and Growth Pact with great concern. There is growing evidence that most countries will miss their budgetary targets for 2003 by a significant margin.
66 of 1992, to regulate and enforce discipline in the market. The CBN has taken steps to integrate the banking system into the global best practices in financial reporting and disclosure through the adoption of the International Financial Reporting Standards (IFRS) in the Nigerian Banking Sector by end 2010.