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- Nigeria (10)
- Economic downturn (9)
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- Government finance (4)
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- Nigerian economy (4)
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- ARDL (2)
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- Inclusive growth (2)
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- And Efficiency. (1)
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Articles 1 - 30 of 47
Full-Text Articles in Social and Behavioral Sciences
Keynote Address On Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Central Bank Of Nigeria Executive Seminar, G.I. Emefiele
Economic and Financial Review
This is a keynote address delivered by the Governor of Central Bank of Nigeria at the 2016 executive seminar with the theme "financing government programmes in economic downturn - the role of central bank of Nigeria
Special Remarks: Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Annual Executive Seminar, S.O. Alade
Economic and Financial Review
This is the special remarks delivered by the Deputy Governor (Economic Policy) during the 2016 executive seminar, "financing government programmes in economic downturn- the role of central bank of Nigeria.
Financing Government Programmes In Economic Downturn: Theoretical Issues And Perspectives, A. H. Ekpo
Financing Government Programmes In Economic Downturn: Theoretical Issues And Perspectives, A. H. Ekpo
Economic and Financial Review
The purpose of this paper is to articulate the theoretical issues and perspectives which underscore the need for caution in financing government programmes whether in the recurrent outlay or capital programmes as individual financing modes have built in costs and risks that could inhibit the realisation of government objectives.
Financing Government Deficit During Economic Downturn: Options For Consideration, O. Ajakaiye
Financing Government Deficit During Economic Downturn: Options For Consideration, O. Ajakaiye
Economic and Financial Review
The author examines the efficacy of the conventional approach to financing budget deficit during economic downturn in Nigeria. He also considers other (unconventional) options for financing budget deficits during economic downturn in Nigeria.
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
Economic and Financial Review
The author examine both the traditional and developmental roles central banks plays in financing government programmes/projects.
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Economic and Financial Review
This author examines the various policy options for the manufacturing sector of the economy in an economic downturn.
Financng Government Programmes During Economic Downturn: Policy Options, E.M. Abolo
Financng Government Programmes During Economic Downturn: Policy Options, E.M. Abolo
Economic and Financial Review
The author discussed various policy options that can be adopted to finance government programmes during economic downturn. He explained in details the concept as it affects the economic growth and development.
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Economic and Financial Review
The paper reviews the strategies for strengthening the existing sources of traditional finance in Nigeria and also, introduces new sources of innovative finance that will be suitable for funding government development programmes, as well as, the SDGs Agenda 2030. Furthermore, the possible role of the central bank vis a-vis the government fiscal authorities in the management of some sophisticated financial instruments which is increasingly gaining momentum as part of innovative development finance is discussed.
Financing Government Programmes In Economic Downturn: A Comparative Analysis, T. Oshikoya
Financing Government Programmes In Economic Downturn: A Comparative Analysis, T. Oshikoya
Economic and Financial Review
This paper examines the experience of Nigeria and other oil exporting countries in adjusting to lower oil prices and financing government programmes during economic downturn.
Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide
Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide
Economic and Financial Review
The author discussed the role of non-oil exports in the structural transformation and sectoral diversification processes which are inherently associated with sustainable growth and development outcomes as well as the focus of the analysis shifts to an examination of the role of non-oil exports in promoting economic growth and development.
Financial Soundness Indicators: The Case Of Nigeria, Baba N. Yaaba, Idris Adamu
Financial Soundness Indicators: The Case Of Nigeria, Baba N. Yaaba, Idris Adamu
Bullion
This paper adopted the concept as designed by the Fund to examine the soundness of the Nigeria Banking Sector from 3007Q1 to 20014Q4. From the result of the financial Soundness Indicators (FSIs) complied for Nigeria, it is obvious that the indicators can serve as reliable and consistent tools, capable of detecting vulnerabilities in the system. The study, therefore, recommends that adequate attention be paid to the indicators by the Central Bank. The Bank is urged to strive to gain full understanding of the concept as well as design additional framework for using the indicators so as to enable her take …
Inclusive Growth And Poverty Reduction In Nigeria, Uche M. Ozughalu, Fidelis O. Ogwumike
Inclusive Growth And Poverty Reduction In Nigeria, Uche M. Ozughalu, Fidelis O. Ogwumike
Bullion
This study shows that Nigeria has not experienced inclusive growth over the years, using relevant national and global data. The country has experienced pervasive poverty, high rate of unemployment and high level of income/wealth inequality despite impressive economic growth rates over the years. The study also highlights the major factors that could be responsible for the non-inclusive growth in Nigeria; these factors include poor performance of the manufacturing sector, weak knowledge base, poor human capacity development and low level of global competitiveness. The study uses tabular presentations and verbal constructs in its analysis. The government and policy makers in Nigeria …
Mortgage Refinancing In Nigeria: Prospects And Challenges, Kama Ukpai, Phebian N. Bewaji, Adigun Mustapha, Olufemi Adetunji Edun, Olubukola Adegbe, Josiah Dassah
Mortgage Refinancing In Nigeria: Prospects And Challenges, Kama Ukpai, Phebian N. Bewaji, Adigun Mustapha, Olufemi Adetunji Edun, Olubukola Adegbe, Josiah Dassah
Bullion
The paper examines the mortgage (re)finance market in Nigeria with a view to identifying its prospects and challenges. The method adopted included a review of jurisdictional experiences on mortgage refinance and thereafter draw on some lessons of experience as the Nigeria case is considered as a country in transition. Further discussions centered on the challenges of financialization of mortgages, mortgage affordability, low awareness of mortgage refinancing, macroprudential risks and moral hazard that confronts mortgage refinance in the country. The paper, further, provides considerations with regard to value-reorientation, institutional, regulatory and legal infrastructures as prerequisites for successful mortgage refinance system.
Nigeria's Monetary Survey: 2001-2014, Phebian N. Bewaji, Chioma P. Nwosu
Nigeria's Monetary Survey: 2001-2014, Phebian N. Bewaji, Chioma P. Nwosu
Bullion
The paper showed that Nigeria's monetary survey is a useful tool in the analysis of monetary development and its linkages with key sectors of the economy. It conveys a useful insight on the evolution of the payment system and money holding behavior. Findings indicated that Nigeria's broad money aggregate was largely determined by external factor, pre-2007 global financial crisis, while domestic factors had significant implications for monetary management post-2007.
Shadow Banking Services And Its Implications For The Nigerian Economy, Jibrin Yakubu, Joseph Achua
Shadow Banking Services And Its Implications For The Nigerian Economy, Jibrin Yakubu, Joseph Achua
Bullion
This paper reviews some conceptual and theoretical issues as well as considers the implications of shadow banking services in the Nigerian economy. lt defines shadow 3banking services as 'a system of credit intermediation that involves entities and activities outside Central Bank of Nigeria's regulatory capture'. The paper noted that Nigeria is yet to make significant policy impact on shadow banking in spite of its inherent systemic risk and regulatory arbitrage concerns on the economy. ln addition, there is neither data collection nor information management frameworks to measure its size, performance and impact on the economy. The paper therefore, recommends the …
Crude Oil Price Volatility: Implications For External Reserves And Exchange Rate Management In Nigeria, Moses K. Tule
Crude Oil Price Volatility: Implications For External Reserves And Exchange Rate Management In Nigeria, Moses K. Tule
Bullion
Following recent development in the world oil market, emphasis will be placed on the falling crude oil price which has far reaching implications for economic management in Nigeria. Nigeria depends heavily on crude oil for its revenue and exchange earning, hence the degree of rise or fall in oil price over a period poses concern for the government of the country.
Exchange Rate Management: Evolution Of The Nigerian Foreign Exchange Market, Bismark J. Rewane
Exchange Rate Management: Evolution Of The Nigerian Foreign Exchange Market, Bismark J. Rewane
Bullion
To grasp the challenges facing the naira, an understanding of the framework of the exchange rate system is imperative. This article highlights key developments and presents an analysis of the current issues facing the Nigerian currency.
The Impact Of External Reserves' Position On Capital Flows: The Nigerian Experience, Lamido A. Yuguda
The Impact Of External Reserves' Position On Capital Flows: The Nigerian Experience, Lamido A. Yuguda
Bullion
A number of factors will determine whether capital will flow in and out of an Economy. The monetary Authority in every country have the sole right to maintain and manage the external reserves hereby maintaining confidence in the country monetary and exchange rate polices, provide confidence to international community on the country' ability to meet its external obligations and provide liquidity to government to meet its external obligations; and maintain foreign exchange liquidity. The main objectives of this paper is to access the impact of external reserves position in attracting capital flows.
The Role Of The Media In Communicating Developments In Foreign Exchange Management In Nigeria, Stanley Egbochukwu
The Role Of The Media In Communicating Developments In Foreign Exchange Management In Nigeria, Stanley Egbochukwu
Bullion
The branch of journalism that tracks, record, analyses and interprets the economic changes that took place in a society is Financial Journalism. it is said to be a subject of unprecedented circumstance because financial and business stories nowadays move at a digital driven speed. the interpretation and presentation of the up to day activities in the financial world comes with high level of research and cooperate understanding. the Nigeria economy is heavily dependent on import and this records can be presented to the public through the media.
Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere
Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere
Bullion
Financial inclusion suggests an innovative concept which helps to achieve sustainable development, by making available financial services to the unbanked and underbanked with the help of financial institutions. The concept of financial inclusion gained popularity from year 2000. Thus, it is a great weapon to overcomes financial backwardness. This paper attempts to assess the current status of financial inclusion by examining recent policies and developments toward achieving financial inclusion in Nigeria. Specifically, the framework aimed at enhancing financial inclusion in Nigeria while also supporting the growth and stability of the financial sector, including policies around microfinance, mobile payment, KYC, electronic …
Implication Of Closure Of Rdas And Wdas Segment Of The Foreign Exchange Market In Nigeria, Akin Dawodu
Implication Of Closure Of Rdas And Wdas Segment Of The Foreign Exchange Market In Nigeria, Akin Dawodu
Bullion
The Nigeria foreign exchange market has transitioned a great deal since the country gain independence. Nigeria had a pegged exchange control until the introduction of the structural adjustment program (SAP) in 1986. which brought about dual exchange rate system, the first and second tier foreign exchange market that later metamorphosed into the Foreign Exchange Market (FEM). Hence there continue to be policy reversals as a result of the volatility in the exchange rate.
An Empirical Analysis Of The Effect Of Monetary Policy On The Manufacturing Sector In Nigeria, M. Ali, H. Aliero, M. Abubakar
An Empirical Analysis Of The Effect Of Monetary Policy On The Manufacturing Sector In Nigeria, M. Ali, H. Aliero, M. Abubakar
Economic and Financial Review
This study examined the effect of monetary policy on the manufacturing sector in Nigeria from 1970 to 2012 using Autoregressive Distributed Lag (ARDL) bound testing approach. Exchange rate was found as the only channel of monetary policy transmission with significantly negative effect on the manufacturing sector. This implies that manufacturing firms largely rely on foreign inputs for production and do not depend on the banking system for funding. The study, therefore, recommends indigenous technology and financial system development to reduce dependence on imported inputs and facilitate access to more funds.
Factors Explaining Exchange Rate Volatility In Nigeria: Theory And Empirical Evidence, H. E. Oaikhenan, O. S. Aigheyisi
Factors Explaining Exchange Rate Volatility In Nigeria: Theory And Empirical Evidence, H. E. Oaikhenan, O. S. Aigheyisi
Economic and Financial Review
The study empirically investigated the factors explaining the volatility of the bilateral exchange rate of the naira to the U.S. dollar, using data for 1970-2013 period. The EGARCH (1.1) modeling technique was used. The empirical evidence indicated that volatility of the naira exchange rate was characterised by clustering, strong leverage effect and moderate degree of persistence. It was found that increased net capital flows, greater integration of the Nigerian economy into the global market, deepening of the nation’s financial system, favourable crude oil prices, increase in the level of external reserves as well as economic growth were germane to dampening …
Sources And Impact Of Excess Liquidity On Monetary Policy In Nigeria, S. A. Ukeje, D. Amanze, L. Akinboyo, K. Ajayi
Sources And Impact Of Excess Liquidity On Monetary Policy In Nigeria, S. A. Ukeje, D. Amanze, L. Akinboyo, K. Ajayi
Economic and Financial Review
This paper examined the sources and effects of excess liquidity in the Nigerian banking system. The Deposit Money Banks (DMBs) in Nigeria do not hold voluntary reserve over and above the required reserve for precautionary reasons depending on their risk appetite. The practice over the years has been that DMBs constrained themselves by holding involuntary reserve which is a major concerns to the monetary authorities. The ideal situation is that banks should deploy excess reserves as loans to the public and invest in government securities, but on the contrary this is not done based on the profit maximisation tendencies of …
Effects Of Monetary Policy On The Banking System Stability In Nigeria, A. Bamidele, J. Musa, L. Bala-Keffi, O. Owolabi, S. Imam
Effects Of Monetary Policy On The Banking System Stability In Nigeria, A. Bamidele, J. Musa, L. Bala-Keffi, O. Owolabi, S. Imam
Economic and Financial Review
The paper examined the effect of monetary policy on banking system stability in Nigeria. The main objective was to evaluate how monetary policy affected the banking system stability during the global financial crisis in Nigeria. Static and dynamic error correction models were estimated using monthly data from January 2007 to June 2013 and the error correction model was found most efficient. The banking system stability index was computed using banking soundness index, banking vulnerability index and economic climate index. The results showed that increase in monetary policy rate, depreciation of nominal exchange rate and rising inflation rate negatively affected the …
Moving Average Stratification Algorithm For Strata Boundary Determination In Skewed Populations, Akeem O. Kareem, Isaac O. Oshungade, Gafar M. Oyeyemi, Adebowale O. Adejumo
Moving Average Stratification Algorithm For Strata Boundary Determination In Skewed Populations, Akeem O. Kareem, Isaac O. Oshungade, Gafar M. Oyeyemi, Adebowale O. Adejumo
CBN Journal of Applied Statistics (JAS)
Moving Average Stratification (MAS) is a new competing and simple algorithm for strata boundary determination in Stratified Sampling. It eliminates arbitrary choice of class interval associated with cumulative square root of frequency method (Dalenius and Hodges Rule (DHR) 1959) and the inherent geometric gaps created within strata by Geometric Stratification (GMS) of Gunning & Horgan (2004). It competes favorably well with DHR and GMS in terms of its precision, simplicity and speeds and therefore recommended for use in strata boundaries determination especially in skewed populations.
Do Survey-Based Expectations Mimic Inflation In Nigeria?, Ibrahim Adamu
Do Survey-Based Expectations Mimic Inflation In Nigeria?, Ibrahim Adamu
CBN Journal of Applied Statistics (JAS)
Survey-based expectations are mostly used by monetary authorities for inflation forecasts and evaluation of the credibility of their inflation fighting policies. It is also an important link in the monetary policy transmission mechanism. This study examined the predictive ability of business expectations survey (BES) inflation index on movements of inflation as well as the relationship between BES indicators and selected macroeconomic indicators in Nigeria. The study employed the modified Kaminsky-Reinhart (KLR) Signal Approach, correlation and trend analyses. The results of the modified KLR approach showed that BES inflation index predicts inflation rate only between 5 to 20 per cent threshold, …
Gdp Per Capita In Africa Before The Global Financial Crisis: Persistence, Mean Reversion And Long Memory Features, Luis A. Gil-Alana, Olaoluwa S. Yaya, Olanrewaju I. Shittu
Gdp Per Capita In Africa Before The Global Financial Crisis: Persistence, Mean Reversion And Long Memory Features, Luis A. Gil-Alana, Olaoluwa S. Yaya, Olanrewaju I. Shittu
CBN Journal of Applied Statistics (JAS)
This paper examined the long memory features of GDP per capita data before the global financial crisis, using a sample of 26 African countries. The study employed fractional integration and tested the stability of the differencing parameter across the sample period for each country. The results indicated that most of the countries’ GDP series were I(1) or higher. Evidence of mean reversion was observed in 10 countries where the disturbances were autocorrelated. There was strong evidence against mean reversion in the remaining 16 countries. The results also indicated that the fractional differencing parameter was stable in 17 countries, while the …
Consumer Confidence Indicators And Economic Fluctuations In Nigeria, Adamu Ibrahim, Sani Bawa, Ismaila S. Abdullahi, Chizoba E. Didigu, Sani S. Mainasara
Consumer Confidence Indicators And Economic Fluctuations In Nigeria, Adamu Ibrahim, Sani Bawa, Ismaila S. Abdullahi, Chizoba E. Didigu, Sani S. Mainasara
CBN Journal of Applied Statistics (JAS)
Consumer confidence indicators(CCI) serve as a veritable tool for providing useful information to policy makers, forecasters and the general public. Recent studies indicated the possibility of a slowdown in output, resulting from the pessimism of consumers in their expectations about the general state of the economy, even if their pessimism were not based on economic fundamentals. This study evaluated the predictive ability of the CCI in forecasting economic fluctuations in Nigeria. The study applied the Granger Causality tests, impulse response functions and forecast error variance decomposition to assess if CCI granger causes output growth as well as ascertain the magnitude …
Dollarization, Inflation And Interest Rate In Nigeria, David O. Olayungbo, Kehinde T. Ajuwon
Dollarization, Inflation And Interest Rate In Nigeria, David O. Olayungbo, Kehinde T. Ajuwon
CBN Journal of Applied Statistics (JAS)
This paper investigates the relationship among dollarization, inflation and interest rate in Nigeria for the period 1986-2015Q1. It adopts inter-temporal model of money-in-utility (MIU) with an estimation technique of structural vector autoregression (SVAR). Empirical evidence shows that dollarization index has been on the increase in Nigeria since 1994, despite stable and low inflation and interest rate. Results of the cointegration show long run equilibrium among dollarization, inflation and interest rate. The Granger causality test reveals that there is a unidirectional relationship from dollarization to inflation in Nigeria. This suggests that policies that aim to reduce inflation in Nigeria must include …