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Nigerian Stock Market Reflection Of The Global Finance Crisis: An Evaluation, Sere- Ejembi A. A. Dec 2008

Nigerian Stock Market Reflection Of The Global Finance Crisis: An Evaluation, Sere- Ejembi A. A.

Bullion

With its roots in banking, the sub-prime mortgage crisis that commenced in the United States in 2007 soon resonated in other sectors of its financial system, and the economy, at large. It spread quickly to the developed economies in Europe, including the United Kingdom, and Asia. In the case of the Nigerian stock market, following initial relative insulation, the speed of contagion and response was comparatively slower. However, the effects began to manifest in the first quarter of 2008. The objective of this paper, therefore, is to review the global financial crisis, in the context of its recent effects on …


Central Bank Communication And Monetary Policy: The Case Of Central Bank Of Nigeria, Egbuna N. E. Dec 2008

Central Bank Communication And Monetary Policy: The Case Of Central Bank Of Nigeria, Egbuna N. E.

Bullion

The importance of concise communication in monetary policy making cannot be over emphasised . A g o o d communication of policy definitely strengthens the institutional independence of central banks and enhances the effectiveness of monetary policy. However, no one single method could fit all when it comes to designing good communication strategies because central banks face different constraints as they try to fine-tune their messages. With current reforms and financial liberalization, there is added impetus for increased communication between the Central Bank of Nigeria (CBN), market operators, stakeholders and the public in general. Monetary policy needs to be explained …


Electronic Banking In Nigeria: Problems And Prospects From The Consumer's Perspective, Agbada A.O Dec 2008

Electronic Banking In Nigeria: Problems And Prospects From The Consumer's Perspective, Agbada A.O

Bullion

This paper explores the adoption of electronic banking [e-banking] in Nigeria. It examines the problems and prospects of e-banking in Nigeria from the consumer's perspective. The research findings show that a number of problems ranging from human, operational and technical constraints hinder the maximum utilization of services provided through e-banking channels in Nigeria. However, the results from the study have also revealed that despite these problems, the rate of adoption of e-banking services in Nigeria is phenomenal as banks have recorded outstanding successes in some areas. Nigeria is a consuming nation and based on the experience from other sectors of …


Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E. Dec 2008

Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E.

Bullion

The paper underlined the challenges and opportunities for managing Africa's external reserves by Africans after identifying several pre-conditions for an African currency to emerge as international currency and noted that these conditions have not yet crystallized in Africa. Although African external reserves have grown over time the benefits of such growth in terms of facilitation of domestic financial markets and even the earning are not commensurate with the reserves growth rate. The non-convertibility of African currencies, volatile macroeconomic and sometimes volatile political environment coupled with the shallowness of the domestic markets are the main challenges that are faced by the …


Five Decades Of Agricultural Policies In Nigeria: What Roles Has Statistics Played?, Akinboyo O. I Dec 2008

Five Decades Of Agricultural Policies In Nigeria: What Roles Has Statistics Played?, Akinboyo O. I

Bullion

All over the country and internationally, the publications of the Central Bank of Nigeria (CBN) such as the Annual Report and Statement of Accounts, the Statistical Bulletin, Economic and Financial Review, the Bullion and Nigeria: Major Economic and Banking Indicators and those of the National Bureau of Statistics (NBS) have become a veritable source of data and reference materials on Nigeria. Without basic i n f o r m a t i o n o n e c o n o m i c developments, it would be very difficult for policy makers to assess economic performances. The f o …


Integrated Financial Supervision For Nigeria: Emerging Issues And Challenges., Anachi Arua Sep 2008

Integrated Financial Supervision For Nigeria: Emerging Issues And Challenges., Anachi Arua

Bullion

In the supervisory architecture of financial institutions have been of interest to policymakers and the academic. It began to be discussed in the late eighties when the Scandinavian countries were establishing a single supervisory authority in their country. The discussion heated up in the late nineties when the United Kingdom created the Financial Services Authority (FSA) and continued in this decade as many developed and developing countries consider the adoption of more integrated supervision structures. The paper considers the issues of separation of financial supervision from central banking and the rationale and challenges of establishing on integrated supervision structure in …


Consolidated Supervision Of Banks: Concept And Practices, U. Kama Sep 2008

Consolidated Supervision Of Banks: Concept And Practices, U. Kama

Bullion

The paper has considered two basic issues in financial supervision. These are the separation of financial supervision from central banking and the rationale and challenges of establishing an integrated supervision structure in Nigeria. lt identified three basic functions of financial supervision as micro prudential, macro prudential and conduct-of-business supervision, which address systemic stability, financial soundness of individual institutions and consumer protection respectively . The paper is divided into six sections. Following this introduction is section ll which examines the conceptual and theoretical issues in consolidated supervision. Section lll reviews the experience of other jurisdictions in the practice of consolidated supervision. …


Is Nigeria Ready For Inflation Targeting, Mbutor O. Mbutor Sep 2008

Is Nigeria Ready For Inflation Targeting, Mbutor O. Mbutor

Bullion

Inflation Targeting as a framework for monetary policy implementation simply describes a policy framework in which central banks accept and announce the realization of certain forecast targets of inflation, over a given time period, as the measure policy anchor and are accountable for deviations from actual inflation from the said target. The primary goal of the paper was to expose the prospects and challenges facing the implementation of inflation targeting in Nigeria. To put the subject in proper perspective, common terminologies often used in discussing lT were defined. The preconditions for effective lT were also highlighted. The paper has argued …