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Full-Text Articles in Social and Behavioral Sciences
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria
CBN Annual Report
In 1997, Nigeria experienced its third consecutive year of macroeconomic stability, resulting in modest improvement in domestic output growth and a persistently low inflation rate. The balance of payments position showed a modest surplus, and significant success was achieved in reducing domestic liquidity growth. Domestic output expanded further due to increased agricultural output and crude petroleum production, while the inflation rate declined further. Domestic output, measured by the Gross Domestic Product (GDP), increased by 3.8% in 1997, as against the average growth rate of 2.3% in the preceding three years. The fight against inflation was highly successful, reaching a single …
Management Of Foreign Exchange: A Peep Into The Next Decade., O K. Anifowose
Management Of Foreign Exchange: A Peep Into The Next Decade., O K. Anifowose
Bullion
The paper examines the management of the foreign exchange in Nigeria the next decade. The paper is structured into four main sections after these introductory remarks. section 1 discusses some conceptual issues such as:-foreign exchange versus external reserves, objectives of reserve management, strategies employed in managing the reserves and techniques for reserve management. section 11 discusses tools of reserve management the third section provides some thoughts as to the direction of foreign management in the next decade. section IV summarises and concludes the paper.
Interest Rate Policies In Ecowas Countries: A Comparative Analysis., Benji C. Onyido
Interest Rate Policies In Ecowas Countries: A Comparative Analysis., Benji C. Onyido
Bullion
This paper reviews the experiences of developing countries in the management of interest rates, with emphasis on ECOWAS countries. While the Anglophone countries have adopted independent interest rate policies overtime, the Francophone members of the West African Monetary Union (WAMU) have shared similar experiences-a common currency (the CFA franc),a central bank (BCEAO) and common monetary policies. The paper is divided into four parts, in part I, it examines the roles of, and factors affecting interest rates. The part II highlights the characteristics of interest rates in developing countries and requirements for a successful interest rate reform. Part III reviews the …
Monetary Policy And Financial Sector Reform., J. O. Adeeribigbe
Monetary Policy And Financial Sector Reform., J. O. Adeeribigbe
Bullion
The objective of this paper is to familiarize course participants with the importance of financial sector reform to the effective conduct of monetary policy based on free market principles, and examine the challenges posed to the monetary authorities in Nigeria in this regard. The paper is divided into four parts. following this introduction, part 11 of the paper analyses the framework for financial sector reform and implications for monetary policy. in part 111 an attempt is made to outline the implementation of financial sector reforms in Nigeria, while part IV evaluates the effectiveness of monetary policy between 1990 and 1997 …
Performance Evaluation Of Small-Medium Enterprises (Smes) In Nigeria., B S. Adebusuyi
Performance Evaluation Of Small-Medium Enterprises (Smes) In Nigeria., B S. Adebusuyi
Bullion
This paper attempts to evaluate the performance of the SME sub-sector in view of both the general and specific government developmental strategies and policies channelled to the sub-sector. The paper is structured into five sections. The first section reviews the definition, characteristics and roles of the SMEs. section II discusses government policies for the promotion of SMEs, and an evaluation of the performance of the sub-sector is undertaken in section III. The outstanding problems of the SMEs are outlined in section IV, while section V summarises and concludes the paper.
Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from documents like balance sheets and financial statements, which are designed for legal and administrative purposes rather than economic analysis. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. However, due to problems with imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation, major revisions were made. The Computer Services Department generates summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. …
The Need For Exchange Rates Convergence In Nigeria, P. J. Obaseki
The Need For Exchange Rates Convergence In Nigeria, P. J. Obaseki
Economic and Financial Review
This paper examined the relevance of exchange rates convergence in the context of a realistic exchange rate and the implementation of a successful Economic Adjustment Programme, with particular reference to external sector competitiveness and viability. The paper was unambiguous in respect of the superiority of convergence over other schemes ranging from multiple to a dual exchange rate system. A unified exchange rate system, resulting from a free interplay of market forces, eliminates waste arising from subsidies and inefficient allocation of foreign exchange. A unified rate also reduces rent-seeking behaviours that flourish under a dual or multiple exchange rate system. After …
Strategy For Growth-Led Poverty Alleviation In Nigeria, A. S. F. Atoloye
Strategy For Growth-Led Poverty Alleviation In Nigeria, A. S. F. Atoloye
Economic and Financial Review
The economic growth process of a country is determined by a number of factors among which is technological change. Increased output/performance permitted by this goes a long way in alleviating poverty. Rapid and sustained economic growth utilizing a new industrial strategy calls for proficient use of the natural advantages of modern infrastructures which further serves as a poverty-reducing strategy. The author states that the most credible option by which the poor can receive a fair share of the benefits of development is by subjecting the economy to the full discipline and rigours of market forces for a poverty-reducing growth. Governments …
Foreign Private Investment In Nigeria - 1995, Central Bank Of Nigeria Cbn
Foreign Private Investment In Nigeria - 1995, Central Bank Of Nigeria Cbn
Economic and Financial Review
The net flow of foreign private investment into the Nigerian economy increased substantitally by more than twelve-folds from "M1, 907. 2 million in 1994 to N48, 677. 0 million in 1995, reflecting the stable macro-economic conditions during the period. All the components of foreign investment flows contributed to the increase with the contribution of unremitted profit accounting for the highest. Analyses of the investment flows showed that companies of Western Europe accounted for 78. 7 per cent of the total net inflow mainly through firms in the mining and quarrying sector. The survey revealed that the cumulative level of foreign …
Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from financial statements and balance sheets, which are designed to meet legal and administrative requirements rather than economic analysis needs. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department to compile the CBN analytical accounts. However, major revisions were made due to imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation on foreign assets. The Computer Services Department uses high-level computing to generate both summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation …