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1996

Central Bank of Nigeria

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Full-Text Articles in Public Affairs, Public Policy and Public Administration

The Control Of The Monetary And Banking System By The Central Bank Of Nigeria., Paul A. Ogwuma Jun 1996

The Control Of The Monetary And Banking System By The Central Bank Of Nigeria., Paul A. Ogwuma

Bullion

To understand the role of the Central Bank of Nigeria in controlling the system under the prevailing functional arrangement, it would be necessary to relate the conceptual framework of monetary and banking system control to the Bank's experience. To this end, the paper is organised in five sections. After Section One which is the introduction, Section Two examines the conceptual framework of monetary and banking system control. This is followed by Section Three which reviewed the CBN's techniques of control and their changes over the years. Section Four appraises the control measures and ascertains their effectiveness while Section Five provides …

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Mobilising Financial Resources For Growth: Nigeria's Financial Policy Perspective., Felix U. Ezeuduji Jun 1996

Mobilising Financial Resources For Growth: Nigeria's Financial Policy Perspective., Felix U. Ezeuduji

Bullion

Financial resources for growth are from several sources because no single source could provide the required funding. The major known sources of resources for growth are based to both the informal sector and formal sector activities which include the fiscal operations of the Government foreign sector transactions, capital market activities, and institutional savings mobilisation in the financial sector which is the focus of this paper. This paper is organised in five sections. The introduction constitutes Section One which provides the background, the objective and the organisation of the paper. In section Two, the conceptual framework of financial resource mobilisation is …

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Fiscal Federalism: Revenue Allocation For Economic Development In Nigeria., T. O. Okunrounmu Jun 1996

Fiscal Federalism: Revenue Allocation For Economic Development In Nigeria., T. O. Okunrounmu

Bullion

From colonial administration to independence in 1960 and 35 years of self-rule, revenue allocation in the Federal Republic of Nigeria has had a chequered history. It has been subject of intensive lobbying by politicians in the attempt to have their wishes engrained in the Constitution. This paper is prepared in three parts. Part I is a theoretical overview of fiscal federalism while Part II reviews the Nigerian experience with Fiscal Federalism. Part III analyses proposals for an effective fiscal Federalism that would enhance economic development.

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Nigeria's Domestic Public Debt Stock: An Assessment., Victor A. Odozi Jun 1996

Nigeria's Domestic Public Debt Stock: An Assessment., Victor A. Odozi

Bullion

Since the early 1980s, Nigeria has taken steps to evolve external debt management strategies encompassing refinancing, restructuring, buyback, collateralisation and debt conversion arrangements as well as issuing external borrowing guidelines. Although the county's external debt problem remains severe, judging both by the absolute level of the debt stock and the unsustainable trend of the various debt servicing ratios, such as debt stock/GDP, debt stock/exports and debt service/export earnings, it is generally acknowledged that the Government had made concerted efforts to address the problem. However, the domestic debt has not been given the same attention, if any at all. the domestic …

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The Strategy And Financing Of Economic Recovery In Africa., Ubadigbo Okonkwo Jun 1996

The Strategy And Financing Of Economic Recovery In Africa., Ubadigbo Okonkwo

Bullion

The paper examines the impact of Structural Adjustment Programmes (SAP) on investment and growth in Africa and suggests the need for a new development paradigm. Working in partnership with the private sector, African Governments must establish a sound institutional and incentive framework for rapid growth. An alternative development strategy should be market-friendly and people-centred and must give priority to the accelerated expansion of exports and Small and Medium Enterprises (SMEs). In view of the bleak prospects for external financing, Africa must rely on domestic financial institutions and capital markets to mobilise the required financial resources for economic recovery.

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