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The Conduct of Fiscal Policy

Fiscal Policy 1990
The 1990 budget, being the first year of the National Rolling Plan was aimed at consolidating and sustaining our national development with greater emphasis on dampening of inflationary pressures, curbing of excessive monetary expansion, streamlining of government revenue- expenditure imbalances, moderation of exchange rate fluctuations and vigorous implementation of all existing measures designed to boost actual non-oil export receipts.

In 1990, the fiscal operations of the Federal Government resulted in an overall deficit of N23, 357.0 million compared with N15, 266.1 million and N12, 160.9 million in 1989 and 1988 respectively. While the retained revenue of the federal government stood at N37, 792.1 million, total expenditure (recurrent and capital) of the Federal Government was N61, 149.1 million.

Facts : 7/1/1959
BOARD OF DIRECTORS:The Management of the CBN is placed under a Board of Directors which is responsible for the Policy and General administration of the Affairs and Business of the Bank.Under the original statute,the Board was composed of the Governor as Chairman,a Deputy Governor and Five other Directors all of whom were appointed by the Federal Government.
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