THE EXAMINATION OF THE ROLE OF CENTRAL BANK IN THE REGULATION OF THE NIGERIA ECONOMY THROUGH MONETARY POLICY
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.
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
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
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”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
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”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Examination of the Role of Central Bank in the Regulation of the Nigeria Economy Through Monetary Policy" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
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