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An Application Of Box-Jenkins Approach In Forecasting Nigerian Crude Oil Prices., Bashir Umar Faruk Sep 2017

An Application Of Box-Jenkins Approach In Forecasting Nigerian Crude Oil Prices., Bashir Umar Faruk

Bullion

Nigerian government has been adopting Moving Average (MA) method in pegging crude oil price benchmark. However, large discrepancy between the projected oil price benchmark and the actual international crude oil prices is observed over time. Therefore, the main objective of this research is to investigate whether Box-Jenkins approach could provide a lasting solution to the problem of inefficient oil price forecast in the Nigerian budgeting process. In our quest for an appropriate oil benchmark, monthly bonny light crude oil prices for the period of April 1986 to December 2015 are used.


Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan Sep 2017

Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan

Bullion

The fall in crude oil in the international market has expose Nigeria's vulnerability to external shocks and overdependence on a mono-product economy thereby presenting the opportunity for Nigeria to diversify its economy away from oil into agriculture, manufacturing services and other non-oil sectors. This paper examines the need to support key sectors that are drivers of growth and to also upscale its developmental finance initiatives targeted at economic growth, deepening of deepening of credit delivery to the real sector. The paper highlighted focal areas and the interventions by CBN in these areas to include Agricultural sector; Infrastructure; Manufacturing sector; MSMEs …


Fss 2020 Financial Markets Programme: Progress So Far, Charles Ohamara Sep 2017

Fss 2020 Financial Markets Programme: Progress So Far, Charles Ohamara

Bullion

The Financial System Strategy (FSS) 2020 is a national reform program aimed at developing and transforming Nigeria's financial sector into a growth catalyst to fast track the achievement of the Vision 20:2020 and engineer Nigeria's evolution into on International Financial Centre. The strategic objectives of FSS2020 are to strengthen and deepen the domestic financial markets, enhance the integration of domestic financial markets with the external financial markets and supporting the reals sector. To attain these objectives, the key regulators of the Nigerian financial system come together under the leadership of the Central Bank of Nigeria and crafted the vision to …


Fss 2020: Human Capital Development Report, Sani A. Abdallah Sep 2017

Fss 2020: Human Capital Development Report, Sani A. Abdallah

Bullion

This paper explores the FSS2020 Human Capital Development strategy which aims to chart a strategic direction for evolving and developing the required quality human capital that would drive the achievement of the FSS2020 vision, toking into cognizance prevailing local trends and the experiences of global benchmark countries. The paper highlights the vision, mission and objectives of the strategy followed by identifying human capacity development sector challenges. Some critical planned interventions to address the challenges, sector weaknesses and sector threats are next discussed. The paper further highlights relevant stakeholders to implement the interventions and achievements of the HCD sector. Finally, the …


Msme Sector: The New Paradigm For Nigeria's Economic Development, Adewale M. Mustapha Sep 2017

Msme Sector: The New Paradigm For Nigeria's Economic Development, Adewale M. Mustapha

Bullion

MSMEs play a major role in most economies, especially in developing countries. This paper examines the opportunity provided by FSS2020 to enhance development of the MSME sector in Nigeria. The paper begins by examining the concept of FSS2O2O strategy for the MSME sector with specific focus on the six (6) Strategic Objectives and three (3) Transformational Programs to drive the development of the sector. These strategic objectives and the respective initiatives have a high multiplier effect on the entire Nigeria financial system. The six objectives ore: Advocate and Work with the government to Drive SME development, 2. Promote Financial Reporting …


Fss 2020: Pension Sector, Zarah Gadzama Sep 2017

Fss 2020: Pension Sector, Zarah Gadzama

Bullion

The Nigerian Pensioner over the years is seen to have been deprived of his/her benefits even after retirement. The inconsistency of payments, corruption and lack of data or payments to Ghost Pensioners was a major setback to the defined benefits pension scheme of the Federal Government. To curtail these challenges, the Federal Government commenced the reform of the sector through legislative reforms to create a robust Pension industry that can meet the needs of all pensioners. This Paper intends to review the Journey So for of the FSS2020 Pension Sector. The paper ls divided into five Sections; Section one deals …


Transforming The Mortgage Sub-Sector Using The Fss 2020 Platform, Patrick E. Aririguzo Sep 2017

Transforming The Mortgage Sub-Sector Using The Fss 2020 Platform, Patrick E. Aririguzo

Bullion

This paper examines the Mortgage sector of FSS2020 Strategy document which falls within the category of the drivers of the FSS2020 Strategy implementation blueprint. FSS2020 Mortgage: Vision and Mission. The paper further explores the Strategic Objectives of FSS2020 Mortgage Sector and the Transformational Programmes which includes: Ml - Establish a secondary mortgage market; M2 - Attract affordable international credit to fund affordable housing programmes; M3 - Advocate for mortgage ready and affordable housing. Three Transformational Programmes were designed to support the realization of the three objectives of the Mortgage Sector namely: TPl - Establishment of Mortgage Refinancing Companies (MRC) TP2 …


Transforming The Insurance Sector In Nigeriain Using The Fss 2020 Platform, Chris O. Muo Sep 2017

Transforming The Insurance Sector In Nigeriain Using The Fss 2020 Platform, Chris O. Muo

Bullion

The National lnsurance Commission (NAICOM) is the statutory Regulatory body of insurance business created to ensure the effective administration, supervision and regulation of insurance business and regulate transactions between insurers and reinsurers within and outside Nigeria. FSS 2020 Insurance Sector, in collaboration with NAICOM aims to deepen the insurance market; ensure lnsurance credibility and protect policy holders; Embed governance and risk management framework for the lnsurance Companies; Enhance access to finance (financial inclusion) with business development support and new products; and risk-based capitalization of lnsurance Companies.


Contemporary Issues In The Nigerian Monetary Policy Landscape: Current Challenges And Strategic Options, Shamsideen Okunola Abiodun, Jamiu Aina Babatunde, Kingsley Imandojemu Mar 2017

Contemporary Issues In The Nigerian Monetary Policy Landscape: Current Challenges And Strategic Options, Shamsideen Okunola Abiodun, Jamiu Aina Babatunde, Kingsley Imandojemu

Bullion

Contemporary central bonking in Nigeria is becoming laced with intricacies, and monetary actions impacting every segment of the society. Paradoxically, monetary policy landscape is characterized by complexities and frequent changes in the monetary environment amidst relatively constant monetary instruments. The economic recession witnessed by Nigeria from Q1 to Q4 of 2016 had reinforced the renaissance of primordial and 'nativist' models of unregulated banking arrangement cum investment options via Ponzi schemes and pyramid schemes, flexible exchange rote regime, selected import forex restrictions, calls for unconventional monetary policy with special reference to negative interest rote, central bonk communication and financial stability concern. …


Let's Listen To Sarma: Developing An Index Of Financial Inclusion For Nigeria., Baba N. Yaaba Mar 2017

Let's Listen To Sarma: Developing An Index Of Financial Inclusion For Nigeria., Baba N. Yaaba

Bullion

The National Financial inclusion Strategy of the Central Bank of Nigeria was designed to reduce the percentage of adult Nigerians excluded from financial services from 46.3 per cent as at 2070 to 20.0 per cent by 2020. As a component of the policy tool kit, the strategy makes provision for annual data gathering to measure progress in financial inclusion drive of the Bank. This approach and others recognised by the CBN are mostly survey based, hence occasional and expensive. ln order to facilitate cross-country comparison, this study adopted Sarma (2008, 2012) to compute a composite index for financial inclusion for …


Exchange Rate Management In Period Of Economic Uncertainty, Emmanuel U. Ukeje Mar 2017

Exchange Rate Management In Period Of Economic Uncertainty, Emmanuel U. Ukeje

Bullion

The paper examines current developments in the management of foreign exchange by the Central Bank of Nigeria in the period of economic uncertainty. It explains how the Bank has implemented different regimes of foreign exchange in order to maintain the external value of its currency as well as ensure them.


Counterfeiting The Naira Notes: Issues, Trends And Measurements., Kingsley Imandojemu Mar 2017

Counterfeiting The Naira Notes: Issues, Trends And Measurements., Kingsley Imandojemu

Bullion

Currency counterfeiting is o worldwide phenomenon of great importance to currency management and monetary policy execution. This has resulted in transatlantic corporation and synergy in combating the malaise in addition to the efforts of the monetary authorities towards ensuring that banknotes are not susceptible to counterfeiting. Notwithstanding the zero currency counterfeit stance of the Central Bank of Nigeria, the menace remain unabated. The paper through the lens of available literature, identified issues and trends that undermine the effort of the Central Bank of Nigeria geared towards ensuring that banknotes are not susceptible to counterfeiting and also developed methodological framework for …