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Full-Text Articles in Business
Dynamic Effects Of Fiscal Policy On Output And Unemployment In Nigeria: An Econometric Investigation, Attahir B. Abubakar
Dynamic Effects Of Fiscal Policy On Output And Unemployment In Nigeria: An Econometric Investigation, Attahir B. Abubakar
CBN Journal of Applied Statistics (JAS)
This study investigates the effect of fiscal policy shocks on output and unemployment in Nigeria under the Keynesian framework by employing the Structural Vector Autoregression (SVAR) methodology to analyse annual series on the relevant variables for the period 1981-2015. Augmented Dickey Fuller (ADF) test for unit root result shows all variables to be integrated of order one and Johansen Cointegration test confirms the presence of long run association among the variables. Findings of the SVAR model shows shock in public expenditure as having a positive long- lasting effect on output. Revenue shock was found to exert a positive effect (lower …
Overview Of Development Financing: The Case Of Central Bank Of Nigeria, M. A. Olaitan
Overview Of Development Financing: The Case Of Central Bank Of Nigeria, M. A. Olaitan
Bullion
This study highlighted the functions of Central Bank under development finance and economic development, and it also went further to state the mandate of the development finance Department which is the development and implementation of policies, programmes and schemes aimed at the effective, efficient and sustainable delivery of financial services to the real sector of the Nigerian economy. The objective of the mandate are to increase the flow of financial resources to the real sector, create wealth and jobs, reduce poverty and so on.
Dollarization, Inflation And Interest Rate In Nigeria, David O. Olayungbo, Kehinde T. Ajuwon
Dollarization, Inflation And Interest Rate In Nigeria, David O. Olayungbo, Kehinde T. Ajuwon
CBN Journal of Applied Statistics (JAS)
This paper investigates the relationship among dollarization, inflation and interest rate in Nigeria for the period 1986-2015Q1. It adopts inter-temporal model of money-in-utility (MIU) with an estimation technique of structural vector autoregression (SVAR). Empirical evidence shows that dollarization index has been on the increase in Nigeria since 1994, despite stable and low inflation and interest rate. Results of the cointegration show long run equilibrium among dollarization, inflation and interest rate. The Granger causality test reveals that there is a unidirectional relationship from dollarization to inflation in Nigeria. This suggests that policies that aim to reduce inflation in Nigeria must include …
Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2013, Ajibola I. Olufemi, Babatunde S. Omotosho
Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2013, Ajibola I. Olufemi, Babatunde S. Omotosho
CBN Journal of Applied Statistics (JAS)
The survey of foreign assets and liabilities of enterprises in Nigeria was conducted in 2014 to determine the 2013 stock of foreign assets/liabilities of Nigerian enterprises, as well as receiving sectors and origination/destination regions. The survey collected relevant information from 740 enterprises, and analysis of survey returns indicated that the total private foreign liabilities as at end-2013 was N12, 639.27 billion up by 5.08 per cent above its level in 2012. Of this total, 96.7 per cent was in the form of foreign direct investments, while foreign portfolio investments and other capital flows accounted for 0.4 and 2.9 per cent, …
Technical Notes On Balance Of Payments Compilation And Analysis: The Case Of Nigeria, Ubong S. Udoette
Technical Notes On Balance Of Payments Compilation And Analysis: The Case Of Nigeria, Ubong S. Udoette
CBN Journal of Applied Statistics (JAS)
This paper discusses some technical issues in Balance of Payment compilation and analysis. It summarized major components of the BOP statistics, the various account balances as well as the interrelationship between them and other macroeconomic aggregates. It goes further to discuss data related issues in the compilation of Nigeria’s BOP statistics with the aim of providing better insight to future/new compilers, policy and other economic analysts.
Fiscal Decentralization, Economic Growth And Human Resource Development In Nigeria: Autoregressive Distributed Lag (Ardl) Approach, Elijah Udoh, Udoma Afangideh, Elias A. Udeaja
Fiscal Decentralization, Economic Growth And Human Resource Development In Nigeria: Autoregressive Distributed Lag (Ardl) Approach, Elijah Udoh, Udoma Afangideh, Elias A. Udeaja
CBN Journal of Applied Statistics (JAS)
There is a widespread belief that fiscal decentralization is an effective tool for increasing the efficiency of public expenditures. Decentralization is expected to boost accountability and transparency in the provision of public goods for the well-being of the society. However, countervailing views maintain that little or no impact has been created at the periphery in terms of improving the welfare of the people in Nigeria. The main objective of this paper was to investigate how the decentralized system of expenditure impacted on human resource development in Nigeria. Using ARDL/Bounds Testing approach and data for the period 1980 to 2012, the …
Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili
Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili
Bullion
The paper looks at the basic concepts in GDP compilation and the computational processes for the rebased GDP. The paper is structured into four sections. The first section deals with the introduction while section two explains some basic concepts and mathematics for GDP compilation. Section three takes a look at the GDP Rebasing while section four deals with the Recent Development from the rebasing exercise.
Nexus Of Exchange Rate Deregulation And Agricultural Share Of Gross Domestic Product In Nigeria, Oyakhilomen Oyinbo, Falola Abraham, Grace Z. Rekwot
Nexus Of Exchange Rate Deregulation And Agricultural Share Of Gross Domestic Product In Nigeria, Oyakhilomen Oyinbo, Falola Abraham, Grace Z. Rekwot
CBN Journal of Applied Statistics (JAS)
The kernel of this study was to examine the causal relationship between exchange rate deregulation and the agricultural share of gross domestic product in Nigeria from an econometric perspective using time series data spanning a period of 26 years (1986 – 2011). Data on exchange rate and gross domestic product were analysed using augmented dickey fuller unit root test, unrestricted vector autoregression, pairwise granger causality and vector error correction model. The results showed the existence of unidirectional causality from exchange rate to agricultural share of gross domestic production and also, exchange rate deregulation had negative influence on agricultural share of …
Modeling And Forecasting Currency In Circulation For Liquidity Management In Nigeria, Alvan Ikoku
Modeling And Forecasting Currency In Circulation For Liquidity Management In Nigeria, Alvan Ikoku
CBN Journal of Applied Statistics (JAS)
This paper presents forecasts of currency in circulation prepared for liquidity management at the Central Bank of Nigeria. Forecasts were produced using ARIMA, ARIMA with structural variables, VAR and VEC models. The performance of the forecasts was then evaluated under a rolling forecast scenario, where the estimation sample is augmented by one observation and the forecast sample is brought forward. The evaluation of the forecasts was based on average performance over a number of rolling forecasts. We found that the most accurate models were mixed models with structural as well as ARIMA components, augmented by seasonal and dummy variables. We …
Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2012, Sani I. Doguwa, Mohammed M, Tumala, Isaiah Olufemi Ajibola
Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2012, Sani I. Doguwa, Mohammed M, Tumala, Isaiah Olufemi Ajibola
CBN Journal of Applied Statistics (JAS)
The 2013 survey of foreign assets and liabilities of enterprises in Nigeria was conducted to determine destination sectors of foreign private capital flows and economies where such investments originate. The survey covered 649 large establishments in Nigeria with 87.4 per cent response rate. The cross border transactions/investments of the respondents during 2011 and 2012 indicate total foreign claims on the Nigerian economy as at end 2012 rising to N16, 790.78 billion from N13, 647.19 billion recorded in 2011. Of this total, 98.1per cent came in the form of direct investments, while portfolio investments and other capital flows accounted for 1.1 …
How Would Non-Interest Banking Affect The Effectiveness Of Monetary Policy In Nigeria, Yusuf Adamu
How Would Non-Interest Banking Affect The Effectiveness Of Monetary Policy In Nigeria, Yusuf Adamu
Bullion
This article espouses the effectiveness of monetary policy in a dual economic framework (interest bearing/non-interest bearing). In other words it examines how the element non-interest banking when combined with interest bearing framework affect the effectiveness of monetary policy. The use of interest based instruments can effectively be combined with the identified non-interest interest instrument to conduct monetary policy. This article recommend that Nigeria should start thinking towards a policy that takes into account the monetary aggregate instruments as the main tool for executing monetary policy.
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Bullion
In the past three decades, the Nigerian banking industry has suffered from a host of vices namely miss-management, financial misappropriation, administrative recklessness, etcetera, reflecting incompetence on all levels of management and those have had dire consequences in the economy. In an attempt to re-position the industry on the path of performance, different governments in the past took various corrective steps to no avail. Thus this study seeks to explore the Core Resources of Corporate Strategy and Performance-oriented Bank Management best practice with a view to creating sustainable best practices in bank management in Nigeria. The findings from the study are …
Quality Statistics In Banking Reforms For National Transformation, Sarah O. Alade
Quality Statistics In Banking Reforms For National Transformation, Sarah O. Alade
CBN Journal of Applied Statistics (JAS)
This paper outlines the important role of statistics in aiding proper planning and achievement of sustainable economic development. The paper elaborates the importance of investing in quality and reliable statistics for policy design and implementation and stresses the vital role statistical information play in effective operation in both private and public sector in every economy. The role of quality, reliable and timely information to a well-functioning financial system and as a guide to monetary policy making is illustrated in the paper. The paper credits accurate statistical information to the success of the Nigerian banking sector reform. However, it suggests that …
Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi
Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi
Economic and Financial Review
The keynote address delivered by the Governor, Central Bank of Nigeria at the Executive Seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff held in Eko Hotel and Suites, Victoria Island, Lagos State, May 7-10, 2012
Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal
Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal
Economic and Financial Review
The paper adopts content analysis method to investigate the underlying assumptions of the pillar of growth within the framework of Nigeria Vision 20:2020 (NV20:2020) and the transformation agenda. The aim is to show how realistic the underlying assumptions are and whether or not the available structure/measures of the financial system would be sufficient to finance the Vision. The conclusion is that the present Transformation Agenda and indeed the Medium-Term Implementation Plans adequately provide for the financing of NV20:2020 if the provisions of the documents are strictly adhered to.
The Legal And Regulatory Framework For Non-Interest Banking In Nigeria, A. Atta
The Legal And Regulatory Framework For Non-Interest Banking In Nigeria, A. Atta
Bullion
Non-interest bonking is one of the aspects of Islamic finance. Islamic finance distinguishes itself from conventional finance through its compliance with the principles of Islamic commercial jurisprudence. This paper examines the legal and regulatory framework for non-interest banking in Nigeria. First the paper explored the global development of non-interest banking and goes further to highlight why would non-interest banking be beneficial for Nigeria?; In identifying this, the paper highlighted the main contracts that would be used for transactions which include: Profit sharing agreements, Joint venture agreements, Purchase and resole contracts, investment Certificates, insurance; the current legal and regulatory framework and …
The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji
The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji
Bullion
The paper examines non-interest Banking model that operates devoid of interest in lending, financing, deposit-taking and all forms of financial intermediation. Hence, the bank becomes an important financial institution for enhancing growth and development in an economy. The article is divided into five section, the first being the introduction, section two contains the conceptual framework, three highlights non-interest banking in Nigeria and four concludes the paper.
Effects Of Global Climate Change On Nigerian Agriculture: An Empirical Analysis, Apata T. .G
Effects Of Global Climate Change On Nigerian Agriculture: An Empirical Analysis, Apata T. .G
CBN Journal of Applied Statistics (JAS)
This paper presents an empirical analysis of the effects of global warming on Nigerian agriculture and estimation of the determinants of adaptation to climate change. Data used for this study are from both secondary and primary sources. The set of secondary sources of data helped to examine the coverage of the three scenarios (1971-1980; 1981-1990 and 1991-2000). The primary data set consists of 900 respondents’ but only 850 cases were useful. This study analyzed determinants of farm-level climate adaptation measures using a Multinomial choice and stochastic-simulation model to investigate the effects of rapid climatic change on grain production and the …
Is The Stock Market A Leading Indicator Of Economic Activity In Nigeria?, Alvan E. Ikoku
Is The Stock Market A Leading Indicator Of Economic Activity In Nigeria?, Alvan E. Ikoku
CBN Journal of Applied Statistics (JAS)
In an effort to address the lacuna in leading indicator studies of African economies and Nigeria in particular, this paper examines the causal relationships among stock market prices, real GDP and the index of industrial production in Nigeria, using quarterly data from 1984Q1 to 2008Q4. Granger causality tests indicate bidirectional causality between stock prices and GDP but no causality between stock prices and industrial production or between GDP and industrial production. Stock prices and GDP are found to be cointegrated, leading to the estimation of vector error correction models. Out-of-sample forecasts constructed with AR(1), ARIMA, structural ARIMA, and VEC models …
Reforming The Nigerian Banking Sector: Some Emerging Issues., Biodun Adedipe
Reforming The Nigerian Banking Sector: Some Emerging Issues., Biodun Adedipe
Bullion
When the ongoing reforms of banking in Nigeria commenced, there were several arguments against the seeming harshness of the measures. As the revelations increased, the argument became the manner the revelations were made. All these pointed to the capacity of humans to resist change. lt was generally accepted that things went terribly wrong and some drastic steps needed to be taken. This paper examines existing and emerging financial reforms in the Nigeria banking sector. The outcome of the greed-induced crisis was not peculiar to Nigeria, as banks failed all around the world as their capital was eroded. There are obvious …
The Nigerian Financial Crisis: Lessons, Prospects And Way Forward, Charles N. O. Mordi
The Nigerian Financial Crisis: Lessons, Prospects And Way Forward, Charles N. O. Mordi
Bullion
This paper x-rays the recent banking sector crisis in Nigeria, its resolution, lessons learned and way forward. The paper is divided into six main sections. Following the introduction, section 2 highlights country experiences of banking crisis and resolution options, while section 3 gives an overview of financial crisis in Nigeria; section 4 discusses the recent financial crises in Nigeria (2000-2009), while section 5 presents the 2009 banking crises and its causes. The most recent reform measures are discussed in section 6. ln sections 7 and 8, the lessons of experience and the way forward are presented, while the concluding remarks …
Banking System Credit As An Instrument Of Economic Growth In Nigeria, Andrew O. Agbada
Banking System Credit As An Instrument Of Economic Growth In Nigeria, Andrew O. Agbada
Bullion
Globally, banks in developing countries are expected to play very vital and effective roles in financing their economic projects and activities as their contribution in ensuring sustainable economic growth. This expectation is as a result of the fact that there is acute shortage of capital in the developing countries of the world. ln this paper, attempt was made to address how banking system credit can be used as an instrument of economic growth in Nigeria. The specific objectives that banking system credit were expected to achieve were also stated. lt's was revealed that though credits have increased tremendously in recent …
Welcome Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Y. Nuhu
Economic and Financial Review
This is the welcome address by Alhaji Y. Nuhu at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.
Special Remarks At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects., O. J. Nnanna
Special Remarks At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects., O. J. Nnanna
Economic and Financial Review
This is the special remarks by Dr. O. J. Nnanna at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.
Opening Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, O. A. Demuren
Opening Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, O. A. Demuren
Economic and Financial Review
This is the opening address by Mrs. O. A. Demuren at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.
Keynote Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Obadiah Mailafia
Keynote Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Obadiah Mailafia
Economic and Financial Review
This is the keynote address by Dr. Obadiah. Mailafia at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.
The Role Of The Mortgage Industry In Economic Development, Kayode Omotosho
The Role Of The Mortgage Industry In Economic Development, Kayode Omotosho
Economic and Financial Review
This article examines the role of the mortgage industry in economic development with a view to identifying its problems, challenges and opportunities. Possible areas of assistance from other stakeholders are also highlighted. The article discussed the evolution of mortgage banking and financing in Nigeria and the demand/market for mortgage sector finance services in Nigeria. It estimates that Nigeria needed N50 billion annually to provide an estimate of 8 million housing units in 2000. The article then examines the Federal Mortgage Bank of Nigeria (FMBN) in the last decade (1990 - 2000) and National Housing Fund (NHF) as well as the …
Legal And Regulatory Framework For The Mortgage Industry In Nigeria, J. A. Akinwale
Legal And Regulatory Framework For The Mortgage Industry In Nigeria, J. A. Akinwale
Economic and Financial Review
This article examines the legal and regulatory framework for the mortgage industry in Nigeria. The outline of major issues on legal and regulatory framework for mortgage institutions discussed in the article include: Functions of PMI’s vis-a-vis their enabling laws and role in the overall financial system; licensing; assets and liability powers; capital requirements; supervision; disclosure and verification of information; staffing, and developmental issues.
Mortgage Institutions And Financing In Nigeria: Performance, Constraints And Prospects, S. A. Oni
Mortgage Institutions And Financing In Nigeria: Performance, Constraints And Prospects, S. A. Oni
Economic and Financial Review
The article, mortgage institutions and financing in nigeria: performance, constraints and prospects, reviews the performance of the mortgage institutions in Nigeria. The rest of the paper is divided into four parts. Following this introduction is part 2 that focuses on the evolution of mortgage financing in Nigeria. Part 3 reviews the performance of mortgage institutions, while part 4 highlights the constraints in the sub-sector and the prospects of mortgage financing in Nigeria. Part 5 concludes the paper.
Understanding The Technical Operation Of Mortgage Market: Financing Options And Valuation Techniques, Femi Ekundayo
Understanding The Technical Operation Of Mortgage Market: Financing Options And Valuation Techniques, Femi Ekundayo
Economic and Financial Review
This paper aims to discuss the. evolution of mortgage banking in Nigeria, development and practice of mortgage financing and valuation techniques using Primary Mortgage Institutions (PMI) as a thrust. It is also to elicit contributions from others and subject the final product to further research for development of the scheme in Nigeria.