The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy A Case Study of Central Bank of Nigeria

The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy

Project / Seminar Material
Reference ID: PS-11401-TM

DEDICATION

This research material titled “The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Banking and Finance (BF), Book Authors and Profound Scholars of existing or related project material on “The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    ABSTRACT

    This study is to examine the role of Central Bank of Nigeria in the regulation of the Nigeria economy through monetary policy. And the main objectives of this work is to achieve full employment, price stability, favourable balance of payment, exchange rate stability, economic growth and development. To solve the research problems, information was collected thorough primary and secondary data. The research instruments used in collection of data were questionnaire, interviews and others. The respondents on the questionnaire comprises the management and staff of Central Bank of Nigeria. The secondary data were collected from already written research work and are related to the subject matter either directly or indirectly and they are used to supplement the primary data collected. They are as follows: Past project work, textbooks, journals, magazine, encyclopedia, lecture notes etc. The population of the study comprised of the management and staff of Central Bank of Nigeria Enugu.

    It was considered that these group of people will give enough data needed to evaluate the project work. The sample size used is 80 and the major instrument used to collect the data is questionnaires. While the tool employed in analyzing the data is chi-square method and the method was used in testing the hypothesis. Based on my findings, the researcher find out that theCentral Bank of Nigeria is not doing enough in regulation of the Nigeria economy which caused by corruption and political instability in the system that hinder the economic development of the economy and others. I concluded that proper implementation of Central Bank policy will contributes to the development of the economy by employing their qualitative and quantitative techniques effectively. And there should be a continuous dialogue with the banks as co-implementers of monetary policy to discuss and resolve differences and others.

    The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy (A Case Study of Central Bank of Nigeria)

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    The development of central banking can be said to date from the middle of the 19th century, but precisely, there is no exact date when banking started in Nigeria. Historically, records showed that domestic banking activities started in 1961, when a shipping company Elder Dempter lines started banking services in Lagos. The chairman of the company in 1392 established the first banking, institution called African Banking Corporation, which metamorphosed into first Bank of Nigeria. In 1917, Barchays banks now known as Union Bank of Nigeria Plc was established.

    Before 1952, the West African Currency Board (WACB) established in 1912 was used as the state bank for Anglo-phone West African Countries, such as Nigeria, Sierra-Leone, Ghana and Gambia. The West African Currency Board (WAECB) was based in London and it issued notes and coins for the Anglo=Phone West African Countries.

    The banking failure of the 1950’s could not but lead to the establishment of Central Bank to serve as banker to the banking system, to perform supervisory role over the commercial banks and issue currency notes and coins thus, regulating the supply of money in Nigeria. Not only these, it acts as a financial adviser to the government on monetary policy and implementing the policy on behalf of the government.

    The Central Bank of Nigeria is government bank established to keep a country’s financial system under control and close supervision. The responsibility of managing the Central Bank of Nigeria is vested in the hand of the board of directors whose members are appointed by the government.

    The Central Bank of Nigeria is expected particularly in promoting economy growth by fostering the development of money and capital market, development banking habits and sound financial system. In order to facilitate economy development, Central Bank of Nigeria tends to engage in activities, which extend beyond its traditional functions. In this regard, it played a unique role in the development of Nigeria economy, particularly in promoting agricultural and industrial development in general.

    Central Bank of Nigeria was established to act as the organ of government that should undertake the major financial operations of the government and by its conduct influence the behaviour of financial institutions so as to support the economic policy of the government. It follows therefore that the Central Bank of Nigeria must in some sense be a part of the government machinery with its action.

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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