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1992

Central Bank of Nigeria

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Full-Text Articles in Business

Why Fiscal Policies Matter In African Countries, M. O. Ojo, T. O. Okunrounmu Dec 1992

Why Fiscal Policies Matter In African Countries, M. O. Ojo, T. O. Okunrounmu

Economic and Financial Review

The paper discusses the critical role of fiscal policy in developing African economies. While it is accepted that fiscal management is one of the important functions of a modern state, the nature of the fiscal management in a specific environment determines, to a large extent, the overall effect of such intervention. The Nigerian experience indicates a very narrow revenue base that could not withstand the weight of public expenditure and investment.

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A Review Of Small-Scale Enterprises Credit Delivery Strategies In Nigeria, E. E. Inang, G. E. Ukpong Dec 1992

A Review Of Small-Scale Enterprises Credit Delivery Strategies In Nigeria, E. E. Inang, G. E. Ukpong

Economic and Financial Review

The paper reviews the crucial role of Small-Scale Enterprises [SSEs] in facilitating industrial development, some special advantages of existing credit schemes to small-scale enterprises, the peculiar handicaps which SSEs face, the most crucial being poor access to development finance, and highlights areas and ways in which credit guarantee and insurance schemes for SSEs could substantially contribute to their development and growth in Nigeria. Notable among the credit schemes and institutions reviewed are the Small-Scale Industries Credit Scheme (SSICS) introduced in 1971; the Nigerian Bank for Commerce and Industry (NBC!) established in 1978; the Nigerian Industrial Development Bank (NIDB); the Central …

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Developments In The Insurance Industry In Nigeria In 1990, Central Bank Of Nigeria Cbn Dec 1992

Developments In The Insurance Industry In Nigeria In 1990, Central Bank Of Nigeria Cbn

Economic and Financial Review

While the number of insurance companies operating in the Nigerian economy increased in 1990, both income and expenditure of the companies rose during the same period. The report revealed that the growth rate of income in the industry exceeded the expenditure rate, as the income to expenditure ratio rose from 1.59 to 1.81 between 1989 and 1990.

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The Role Of Banks In Promoting The Growth Of Corporate Financing In Nigeria., K. M. Obitayo Dec 1992

The Role Of Banks In Promoting The Growth Of Corporate Financing In Nigeria., K. M. Obitayo

Bullion

Capital formation whether financed from internal or external sources, requires the mobilization of economic surpluses. For investment to increase, there must be a growing surplus over and above current consumption that can be channelled into productive uses. The different ways of accumulating capital entail different institutional arrangements. The objective of this paper is to discuss the role of banks in promoting the growth of corporate financing in Nigeria. The rest of the paper is structured into three major parts. Part 1 outlines the evolution of the Nigerian banking system. Part II examines the role of banks in fostering the growth …

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The Demand For Monetary Function In Nigeria: An Empirical Investigation, F. O. Oresotu, Charles N.O. Mordi Dec 1992

The Demand For Monetary Function In Nigeria: An Empirical Investigation, F. O. Oresotu, Charles N.O. Mordi

Economic and Financial Review

This paper provides _further empirical evidence ,in the nature ,if the demand for money function in Nigeria for the period 1960-1991. 'The paper also addressed the issue of the appropriate adjustment process, structural stability of the estimated equation, as well as the influence of external factors on money demand function in an open economy, such as Nigeria.

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Banking Supervision And Inspection, Agene C. E. Sep 1992

Banking Supervision And Inspection, Agene C. E.

Bullion

The paper examines banking supervision and regulation. It is organized into two parts: part one, introduction, discusses the overview of banking supervision and regulation and part two looks at the internal audit function, internal control measures and procedures for internal control. The concluding part examines the opportunities of financial conglomerates created in the Nigerian scene as well as the problem of proper risk management for the supervisory authorities.

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Current Monetary And Banking Policies In Nigeria And The Prospects In The Third Republic, V. A. Odozi Sep 1992

Current Monetary And Banking Policies In Nigeria And The Prospects In The Third Republic, V. A. Odozi

Economic and Financial Review

This paper received and appraised the conduct of monetary and banking policies in Nigeria in the recent past, and charts prognosis of future monetary policy directions, come the Third Republic. As a background information, the paper reviews the conceptual, analytical and institutional framework for the conduct of monetary and banking policies in general, noting the widespread consensus that efficient management of money stock and the related price variables are vital instruments for inducing investment and growth of any economy. An overview of recent monetary and banking policies in Nigeria acknowledged the innovative initiatives taken so far to reform the financial …

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1992 First Half Year Report On Industrial Core Projects, E. I. K. Sule, C. M. Anyanwu Sep 1992

1992 First Half Year Report On Industrial Core Projects, E. I. K. Sule, C. M. Anyanwu

Economic and Financial Review

The Industrial Core Projects are the basic capital intensity industries deliberately established by the Federal Government to provide material inputs for downstream industries. They include steel plants, refineries and petrochemical plants, paper mills, fertilizer, marble, sugar and cement companies. During the first half of 1992, the performance of most of the Industrial Core Projects was generally unsatisfactory with the exception of petroleum-based plants. Most of them operated low capacities due largely to inadequate funding. Other constraining factors were high cost of production due in part to poor infrastructural facilities and in part to a depreciated currency and stiff competition from …

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Foreign Private Investment In Nigeria In 1990, Central Bank Of Nigeria Cbn Sep 1992

Foreign Private Investment In Nigeria In 1990, Central Bank Of Nigeria Cbn

Economic and Financial Review

Foreign Private investment in Nigeria continued to get government attention, as more areas of the economy are opened up to foreign investors. Also, various incentives to attract such investments into the country, continued to be put in place. As in many developing countries, the availability of such funds enhances position of balance of payments. flowerer, the desired contribution from the foreign private int1eStment segment to the external sector is yet to be fully achieved.

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Monetary Policy In Nigeria In The 1980s And Prospects In The 1990s, M. O. Ojo Mar 1992

Monetary Policy In Nigeria In The 1980s And Prospects In The 1990s, M. O. Ojo

Economic and Financial Review

The main aim of the paper is to review the evolution and performance of monetary policy in Nigeria in the 1980s. Monetary policy objectives remained broadly the same throughout the review period· simulation of output and employment, promotion of stable prices and support of external equilibrium The direct monetary controlframeworkentailingtheprescripttonqfaggregatecreditceilings,selectivecreditcontrolsandregulatton of interest rates, was prominently used between 1980 and 1985, and although was generally retained from 1986, there was some degree of liberalizatton in line with the general philosophy of the Structural Adjustment Programme. Monetary policy faced increasing difficulties due in large part to the Inadequacy of the control framework …

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Management Of External Debt: Nigeria's Experience, Central Bank Of Nigeria Cbn Mar 1992

Management Of External Debt: Nigeria's Experience, Central Bank Of Nigeria Cbn

Economic and Financial Review

This paper traces the genesis of Nigeria's external debt from the period prior to the introduction of the Structural Adjustment Programme (SAP) to the current period. 'The factors which combine to bring the external debt to the current level comprise borrowings from the multilateral and bilateral Institutions, the accumulation of trade arrears, default in the repayment of loans, capitalization of unpaid interest, and depreciation of the U.S. dollar against other major international currencies In which the loans were contracted. Measures taken to limit the growth of Nigeria's external debt include embargo on new loans, directives to State Governments to minimize …

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