The International Monetary Fund has called for a review of the Central Bank of Nigeria Act 2007 to strengthen the bank’s autonomy and governance.
“The CBN’s financial reporting practices should be bolstered through full adoption of International Financial Reporting Standards and resumption of publication of annual financial statements. More broadly, the CBN should take steps to implement the recommendations from the assessment as progress has been limited thus far.”
“A safeguards assessment of the CBN was completed in April 2021 but progress on implementation of recommendations has been limited. The CBN’s internal and external audit mechanisms broadly adhere to international standards. “Financial autonomy should be safeguarded through clear statutory limits on credit to government and prohibition of quasi-fiscal operations and developmental lending activities, which need to be phased out. Financial reporting practices need to be bolstered through the full adoption of International Financial Reporting Standards and resumed publication of annual financial statements.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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