THE ROLE OF CENTRAL BANK IN DEVELOPING NIGERIA ECONOMY

ATTENTION:

BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPICS BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COST N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR

YOU CAN CALL: 08068231953, 08137701720

WHATSAPP US ON: 08137701720

THE ROLE OF CENTRAL BANK IN DEVELOPING NIGERIA ECONOMY

ABSTRACT

This research work examined the role of Central bank in development of Nigeria Economy (1986-2010). Secondary data were used in this research work. The hypothesis was tested to examine the significance of relationship that exist between monetary policy tools, exchange rate and interest rate on economic growth in Nigeria. The analytical techniques used were the simple regression analysis while the student t-ratio was used for the test. From the test, it was observed that a positive relationship existed with negative relationship exist between the variables. Hence the researcher concluded that monetary policy is an efficient tool for economic growth in Nigeria. And therefore recommended that effort should be made to improve on the quality and the timeless of data generated within and outside the financial sector, so that actions could be taken without much delay in controlling adverse situations.

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The role of the central bank in promoting national economic policy and development has in recent years become a topical international economic policy issue. Although the empirical evidence on the relationship between central bank operations and macroeconomic stability proxied by price stability is not conclusive (Folawewo and Osinubi, 2006), the prevailing wisdom supports the need to accord a central bank a reasonable degree of autonomy that will give it substantial discretion to conduct its monetary policy in a manner that will help achieve its assumed central mandate of maintaining domestic price stability, defined as a regime of relatively low inflation rate and an environment free of inflation expectations.

While monetary policy’s aim at long-run price stability is critical to fostering sustainable economic growth, central banks’ role in promoting growth and, more generally, a healthy economy goes beyond the conduct of monetary policy (Sanusi 2002). Through involvement in financial regulation and supervision as well as in the oversight of payments system operations, central banks play a key role in preserving and enhancing the safety and soundness of the banking and financial system (Alicia and Rio 2003).

The Central Bank of Nigeria (CBN), like most central banks in the developing economies, undertakes some non-traditional central bank functions such as promotion of economic development, especially during the formative years in the 1960s and 1970s. The contribution of the CBN in this regard, was focused on the creation of the financial environment and institutional framework conducive to the mobilization and channeling of financial resources into productive investment. Thus, during the first decade of its establishment, the Bank concentrated on the task of promoting and transformation of the rudimentary financial structure of the economy. These included the issuance of money and capital market securities such as the Nigerian Treasury Bills and Federal Government Development Stocks. Moreover, it provided technical assistance to other relevant institutions, and start-up capital for the development of money and capital market institutions. The CBN initiative to encourage long-term bank lending to the economy included the establishment of various refinance and guarantee schemes, focused on the priority sectors of the economy. Two of such schemes are the Agricultural Credit Guarantee Scheme Fund (ACGSF), and Export Refinance Scheme.

HOW TO RECEIVE PROJECT MATERICAL(S)

After paying the appropriate amount (#5,000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) after we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.