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- Nigeria (10)
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- CBN (2)
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- Banking sector reforms (1)
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- Cooperate governance (1)
- Currency convertibility (1)
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- Currency re-denomination (1)
- Deregulated economy (1)
- Domestic savings (1)
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Articles 1 - 24 of 24
Full-Text Articles in Social and Behavioral Sciences
The Performance Of Nigerian Stock Exchange Sectoral Indices: January 2009 December 2010, Alvan E. Ikoku, George Okorie
The Performance Of Nigerian Stock Exchange Sectoral Indices: January 2009 December 2010, Alvan E. Ikoku, George Okorie
Bullion
The paper reviews the performance of the sectoral indices during the first twenty-four months of their existence, i.e., between their inception in January 2009 and December 2010. The authors seek to examine not only the raw performance of the indices but also their risk-adjusted performance. The results of the analysis will facilitate the allocation of capital by institutional as well as individual investors in the Nigerian equity market. The rest of the paper is organized as follows. Section 2 discusses the transformation of the indices and their correlation. In section 3, we examine the nominal performance of the sectoral indices …
Impact Of Banking Sector Reforms On The Nigerian Capital Market (Equities)., Peter A. Adekunle
Impact Of Banking Sector Reforms On The Nigerian Capital Market (Equities)., Peter A. Adekunle
Bullion
Following the outcome of the Special Joint Examination by the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC), ten banks were indicted, out of which two were asked to recapitalize, while the Chief Executive Officers (CEOs) and Directors of the remaining eight were removed by CBN based on mismanagement and poor corporate governance. In order to protect the investors as well as prevent unprecedented dumping of the shares of the listed seven banks, two weeks of full suspension was imposed on trading of their shares on the stock market at various times. This paper attempts to determine …
The Political Economy Of Currency Re-Denomination By Countries., Peter Nwaoba
The Political Economy Of Currency Re-Denomination By Countries., Peter Nwaoba
Bullion
In the view of the Bank, redenomination policy for Nigeria was not to translate to revaluation, as market forces were to continue to determine the prices, including interest rates and exchange rates, with the expectation that inflation will be low while exchange rate will appreciate. The objective of this paper is to articulate the reasons and conditions under which countries embark on currency redenomination exercises, and how successful these exercises had been over the years. The paper is descriptive with presentation based on literature reviews. Under the redenomination programme, banknotes were to be issued in denominations of new 50k (old …
The Role Of Economic Community Of West African States (Ecowas) In Promoting Borderless Trade In West Africa., Adam J. Akperan, Sanni Ganiyu Kayode
The Role Of Economic Community Of West African States (Ecowas) In Promoting Borderless Trade In West Africa., Adam J. Akperan, Sanni Ganiyu Kayode
Bullion
The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded in 1975. Its mission is to promote economic integration in "all fields of economic activities, particularly industry, transport, telecommunications, energy, agriculture, natural resources, commerce, monetary and financial questions, social and cultural matters". This paper examines the role of CBN economy and monetary policies on the heels of borderless trade amongst the ECOWAS State. ECOWAS aims to promote peace, co-operation and integration in economic, social and cultural activity, ultimately leading to the establishment of an economic and monetary union through the total integration of the …
Oil And Gas Management In Nigeria: Lessons For Ghana, Omolara O. Akanji Mrs.
Oil And Gas Management In Nigeria: Lessons For Ghana, Omolara O. Akanji Mrs.
Bullion
This paper is to discuss the oil and gas management in Nigeria: Lessons for Ghana. The paper is structured into five parts with part 1 being the introduction while part 2 scoops the literature on the economics of natural resources and its management globally. Part 3 will situate the Nigeria's multifaceted crisis of oil and gas governance and all related issues. Part 4 will sieve out the lessons for Ghana while part 5 summarizes and concludes the paper.
Analysis Of Revenue Generation As A Tool For Socio-Economic And Infrastructural Development In Nigeria, Obiechina M.E.
Analysis Of Revenue Generation As A Tool For Socio-Economic And Infrastructural Development In Nigeria, Obiechina M.E.
Bullion
The paper analyses the federal government revenue vis-àvis the provision of socio-economic Volume 34, No. 4 October - December 2010 and infrastructural development in Nigeria from 1970 2008, the centerpiece, which is improved productivity and standard of living. To this end, the paper is divided into five sections. Following this introductory section, section two explains the concept of government revenue and infrastructural development as well as theoretical and empirical literature. In section three, we examine the sources and structure of government revenue. Section four focuses on the trend in government revenue and expenditure and the state of some infrastructure in …
Petroleum Industry Linkages And Nigeria's Economic Development, Chinyere U. Nwolisa, Chinyelu N. Ugoji
Petroleum Industry Linkages And Nigeria's Economic Development, Chinyere U. Nwolisa, Chinyelu N. Ugoji
Bullion
Nigeria, Africa's most populous country and potentially its largest economy, has witnessed decades of dictatorship and misrule. Accompanying this misrule are severe economic problems of an unprecedented magnitude. This paper intends to add further clues to the solution for this national developmental puzzle. The remaining part of the paper is arranged thus: Part 2 presents an overview of the Nigerian Petroleum industry while the part 3 looks at the literature of economic development the country appears to be executing. Parl4 discusses the various linkages the Petroleum industry offers visa-vis Nigeria's exploration of their potentials. The penultimate part will offer some …
Overview Of The Four Pillars Of The Banking Reforms., Samuel A. Oni
Overview Of The Four Pillars Of The Banking Reforms., Samuel A. Oni
Bullion
The reports of the risk assessment exercise formed the basis of the intervention by the CBN in some banks and the introduction of the four pillar reform programme, to guarantee the safety and soundness of the banking system. The four pillars of the banking system reforms, which is the main subject, are as follows: Enhancing the quality of banks; Establishing financial stability; Enabling healthy financial sector evolution; and Ensuring that the financial sector contributes to the real economy.
Banking Reforms For Effective Monetary Policy Transmissions., O. A. Uchendu
Banking Reforms For Effective Monetary Policy Transmissions., O. A. Uchendu
Bullion
This paper evaluates the effects of the recent banking sector in Nigeria on monetary policy transmission. The remainder of this paper is structured as follows: section two dwells on the transmission mechanism of monetary policy; section three examines the features of the banking sector that affect the conduct of monetary policy; section four presents banking sector reforms in Nigeria while section five examines the impact of the reforms on monetary policy. Section six presents the challenges while section seven concludes the paper.
Reforming The Nigerian Banking Sector: Some Emerging Issues., Biodun Adedipe
Reforming The Nigerian Banking Sector: Some Emerging Issues., Biodun Adedipe
Bullion
When the ongoing reforms of banking in Nigeria commenced, there were several arguments against the seeming harshness of the measures. As the revelations increased, the argument became the manner the revelations were made. All these pointed to the capacity of humans to resist change. lt was generally accepted that things went terribly wrong and some drastic steps needed to be taken. This paper examines existing and emerging financial reforms in the Nigeria banking sector. The outcome of the greed-induced crisis was not peculiar to Nigeria, as banks failed all around the world as their capital was eroded. There are obvious …
The Role Of The Central Bank Of Nigeria In Ensuring Sound, Safe And Reliable Banking Sector., Chris O. Chukwu
The Role Of The Central Bank Of Nigeria In Ensuring Sound, Safe And Reliable Banking Sector., Chris O. Chukwu
Bullion
This paper examines effects of CBN economic and monetary policies on MDB to ensure sound and safe banking regime. The challenges of effective supervision of the banking sector, therefore involve a comprehensive supervisory approach and good faith of all stakeholders. The paper would covers five sections: 1. Review of the Nigerian banking system serves as an introduction; 2. The activities of the CBN in ensuring sound, safe and reliable banking sector; 3. The challenges facing effective banking supervision; 4. Review of the mitigating factors to the challenges facing effective supervision; and 5. Conclusion in which the paper advised CBN to …
Rebuilding Confidence In Nigerian Banks: The Challenge Of Good Corporate Governance And Professionalism., Uju M. Ogubunka
Rebuilding Confidence In Nigerian Banks: The Challenge Of Good Corporate Governance And Professionalism., Uju M. Ogubunka
Bullion
The Nigerian Banking industry which is still evolving, has great potentials for positively impacting on the developing economy with over a hundred and forty million (140 million) people. Without a doubt, the industry has made noticeable progress and positive impact since its birth in the early 1890s, it would have achieved more had it not been bedevilled by occasional crisis. incidences of bank crisis in Nigeria, like in other jurisdictions, had led to bank shake-ups, failures and subsequent liquidations. Those outcomes gave rise to serious erosion of stakeholders' confidence in banking institutions and the system with far-reaching negative consequences for …
The Nigerian Financial Crisis: Lessons, Prospects And Way Forward, Charles N. O. Mordi
The Nigerian Financial Crisis: Lessons, Prospects And Way Forward, Charles N. O. Mordi
Bullion
This paper x-rays the recent banking sector crisis in Nigeria, its resolution, lessons learned and way forward. The paper is divided into six main sections. Following the introduction, section 2 highlights country experiences of banking crisis and resolution options, while section 3 gives an overview of financial crisis in Nigeria; section 4 discusses the recent financial crises in Nigeria (2000-2009), while section 5 presents the 2009 banking crises and its causes. The most recent reform measures are discussed in section 6. ln sections 7 and 8, the lessons of experience and the way forward are presented, while the concluding remarks …
Naira Convertibility: The Journey So Far, Moses K. Tule
Naira Convertibility: The Journey So Far, Moses K. Tule
Bullion
This paper examines the path to Naira Convertibility, the Journey so far. lt avers that convertibility is pursued by countries either as an economic management approach or as a tool for achieving higher reckoning on the global economic stage. Consequently, the examples of Argentina, Chile, Peru, Brazil, etc could fall in the first category while the Russian Rubble push could qualify for the second group. Nigeria's efforts at Naira convertibility would fall. The paper suggested that Nigeria should initiate a more realistic Naira convertibility programme through trade guarantees where it insists that imports from Nigeria from member ECOWAS members would …
Global Economic Crisis: The Need For African Government Interventions For Rapid Economic Recovery And Stability, Hassan T. Sanni
Global Economic Crisis: The Need For African Government Interventions For Rapid Economic Recovery And Stability, Hassan T. Sanni
Bullion
The paper reappraises the various measures taken by African governments to curtail the effects of the global economic meltdown. This is with a view to re-emphasizing the need for strong interventions by African governments. The paper is organized into five sections. Aside from the introduction, section two reviews the genesis of the global economic crisis, while section three briefly discusses the impact of the global economic meltdown with greater emphasis on African economies. The global responses as well as African forms of interventions since the global shock are presented in section four of the paper. The summary, recommendations and conclusion …
An Overview Of Financial Sector Reforms And Intermediation In Nigeria, George Okorie, Uche J. Uwaleke
An Overview Of Financial Sector Reforms And Intermediation In Nigeria, George Okorie, Uche J. Uwaleke
Bullion
Financial systems all over the world play very important roles in the development and growth of the economy. However, the effectiveness and efficiency of the system as well as its scope and capacity varies quite considerably among economies. This is partly because of the varied levels of ,development. More developed financial systems tend to be associated with the more developed economies. This paper advocates the speedy adoption of international financial reporting standard for all Nigerian banks (currently in the pipeline). This reform, while by no means a cure-all for problems of bank transparency, would nonetheless be a significant step forward, …
Banking System Credit As An Instrument Of Economic Growth In Nigeria, Andrew O. Agbada
Banking System Credit As An Instrument Of Economic Growth In Nigeria, Andrew O. Agbada
Bullion
Globally, banks in developing countries are expected to play very vital and effective roles in financing their economic projects and activities as their contribution in ensuring sustainable economic growth. This expectation is as a result of the fact that there is acute shortage of capital in the developing countries of the world. ln this paper, attempt was made to address how banking system credit can be used as an instrument of economic growth in Nigeria. The specific objectives that banking system credit were expected to achieve were also stated. lt's was revealed that though credits have increased tremendously in recent …
Islamic Banking In Nigeria: Issues And Prospects, Ismaila S. Abdullahi
Islamic Banking In Nigeria: Issues And Prospects, Ismaila S. Abdullahi
Bullion
This paper analyzes the challenging issues and highlight the prospects of Islamic banking in Nigeria. Following this introduction is section two which discusses the evolution of Islamic banking including the basic principles as well as the products/services offered by the system. Section three reviews Islamic banking practices in Nigeria. Section four analyzes the challenging issues and highlights the prospects of practicing Islamic banking in Nigeria. Section five concludes the paper and proffers policy recommendations.
The Central Bank Of Nigeria, The Liquidity And The Sectoral Credit Allocation, Omolara O. Akanji
The Central Bank Of Nigeria, The Liquidity And The Sectoral Credit Allocation, Omolara O. Akanji
Bullion
This article describes the ways in which the CBN has supplied liquidity since 2009. The first is traditional: The CBN supplies liquidity by providing credit through Open Market Operations (OMO) and by lending to depository institutions at the so-called discount window. The second is by enhancing the liquidity of the banks through the Standing Lending Facility (SLF) window. The article notes that the CBN since after banking consolidation exercise in 2005 has departed from its long standing tradition of minimizing its effect on the allocation of credit by supplying liquidity to institutions that it believed to be most in need; …
Banking Sector Crisis And Resolution Options In Nigeria, U. Kama
Banking Sector Crisis And Resolution Options In Nigeria, U. Kama
Bullion
This paper x-rays banking sector crisis and its resolution options in Nigeria. The causes and impacts of banking crisis as well as the way forward for such crisis will also be examined. The paper is divided into six main sections. Following the introduction, Section 2 gives the conceptual/jurisdictional experience of banking crisis. Section 3 gives an overview of the structure of the Nigerian banking sector, the causes of banking crisis and its impacts on the economy, while Section 4 highlights the various banking sector resolution options and the Nigerian experience in banking sector crisis resolution. Section 5 highlights the way …
National Incomes Policy In A Deregulated Economy: The Nigerian Perspective, Moses K. Tule
National Incomes Policy In A Deregulated Economy: The Nigerian Perspective, Moses K. Tule
Bullion
This paper examines the propriety of a national income policy in a deregulated economy. The literature indicates that various interest groups in the country tend to protect their narrow interests when negotiating for higher wages. Consequently, the goals of government to achieve equitable income distribution in the country with a national income policy are often at variance with the private interests. While congenial atmosphere for collective bargaining was deemed desirable for achieving effective income growth, an environment of consistently rising prices was considered an anticlimax to growth and development. Consequently, the paper opined that in a market economy, a national …
Fiscal Operations And The Efficacy Of Monetary Management In Nigeria, A. E. Idowu
Fiscal Operations And The Efficacy Of Monetary Management In Nigeria, A. E. Idowu
Bullion
This paper underscores the need for predictable fiscal operations at all levels of government as a means of ensuring effective and efficient monetary management in the Nigeria federation. Following the introduction, section two discusses conceptual issues and the review of literature, section three discusses government's fiscal operations and challenges to monetary management, while section four examines fiscal reform and its impact on monetary management. Section five contains suggestion on the way forward and some concluding remarks.
Funded Contributory Pension Scheme, Financial Deepening And Economic Growth: What Does The Evidence Say So Far About The Nigerian Economy?, Victor O. Asekunowo
Funded Contributory Pension Scheme, Financial Deepening And Economic Growth: What Does The Evidence Say So Far About The Nigerian Economy?, Victor O. Asekunowo
Bullion
The fully funded defined contributory benefit pension system was introduced in Nigeria in July, 2004 to replace the old fiscally unsustainable defined benefit (Pay-As-You-Go) pension system. The new pension scheme, coming at the heels of earlier reforms in Nigeria's financial sector, could be deemed to serve as a further boost towards savings mobilisation, increased financial instruments acquisition and economic growth. After a survey of relevant literature was conducted, secondary data on relevant macroeconomic indices in the Nigerian economy were collected. The data were descriptively analysed. The results showed that TDS (total domestic savings) increased during the post-pension reform period and …
The Challenges Of Power Supply In Enhancing Integration Processes In Ecowas Member Countries, O. L. Akinboyo
The Challenges Of Power Supply In Enhancing Integration Processes In Ecowas Member Countries, O. L. Akinboyo
Bullion
The birth of the Economic Community of West African States (ECOWAS) in 1975 as an instrument for fostering regional development and unity was also due to the limited economic coherence within the sub-region. This prompted their leaders to embrace regional integration as a central element of their development strategy. There has been increased awareness among these countries that progressive integration holds great potential for minimizing the costs of market fragmentation and thus, represents a precondition for integrating the region into the global economy. Cooperation and integration is also necessary to improve West Africa's competitiveness and position it to maximize the …