IMPACT OF GOVERNMENT REGULATIONS ON FINANCIAL REPORTING PRACTICES IN THE NIGERIAN-BANKING SECTOR (A STUDY OF FIRST BANK OF NIGERIA PLC, LAFIA)

ABSTRACT The study examined the Impact of Government regulations on financial reporting practices in the Nigerian Banking Sector. The main objective of this research is to evaluate the impact of financial regulatory policies on the performance of commercial banks in Nigeria. The study employed the survey research design to carry out this study. The study applied is primary sources of data, which involves questionnaire. In addition, in pursuit of the above research, the researcher made use of random sampling to obtain it sample size in which forty-two (42) was derived from the total population of forty-seven (47). The research design adopted is survey research design. The data collected were analyzed using simple percentage and a test table to obtain findings, which revealed that financial regulatory policies have effect on performance of your bank. The researcher recommends that modification which is proposed, is the establishment of a committee of Banking Supervisory Authorities (CBSA). The Institutionalized CBSA to which all banking supervisory authorities (including the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation and the designate of the licensed banks amongst others) should be empowered to stipulate minimum prudential standards ranging from entry requirements, thresholds for illiquidity and insolvency, to failure resolution options.