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Central Bank of Nigeria

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria Jan 2014

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria

CBN Annual Report

Annual Report and Financial Statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2014. In general, 2014 has been a very eventful and challenging year for the Bank, the country, and the world at large. In the course of the year, the Bank underwent significant changes in its governance composition. In 2014, the global economy witnessed considerable vulnerabilities characterized by fragile growth and weak economic outlook. Global growth recovery was modest and continued to be threatened by strong downside risks, as a result of sharp drop in commodity prices, escalating geo-political tensions, and heightening threats …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria Jan 2010

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria

CBN Annual Report

2010 annual report reviews the operations of the Central Bank of Nigeria (CBN) and appraises the macroeconomic policies in 2010. the report is structured into two parts. Part 1 reviews the corporate operations of the bank, while the part 2 evaluates the performance of the economy against the challenges in both the thrust of monetary policy and other financial measures was to improve liquidity and enhance the efficiency and stability of the financial system without compromising the primary goal of monetary and price stability.

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Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria Dec 2009

Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria

CBN Annual Report

The Central Bank of Nigeria (CBN) Annual Report and Statement of Accounts for the Year Ended 31st December, 2009 revealed that the country's Gross Domestic Product (GDP) grew by 6.7% YoY, compared to 6.0% in the previous year. This growth was driven by the non-oil sector, with the non-oil GDP growth rate of 8.3%. Within the non-oil sector, the agricultural sub-sector grew by 6.2%, while the whole-sector and retail sectors recorded growth rates of 11.5 and 10.5 per cent, respectively. The robust output recorded during the previous three years was driven by the government's optimism, which reflected in the oil …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria Dec 2008

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria

CBN Annual Report

The Central Bank of Nigeria (CBN)'s 2008 report evaluates macroeconomic policies and outcomes, focusing on corporate operations and the economy's performance against domestic and external economic and financial developments. The CBN's monetary policy stance and banking and financial measures were deployed to ensure price stability and financial sector soundness. Despite the global economic downturn, the financial system remained relatively stable and overall macroeconomic performance was satisfactory. The formal financial system at end-December 2008 comprised the CBN, the Nigeria Deposit Insurance Corporation, the Securities and Exchange Commission, the National Insurance Commission, the National Pension Commission, and various banks. The banking sector …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2006, Central Bank Of Nigeria Dec 2006

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2006, Central Bank Of Nigeria

CBN Annual Report

This Report reviews the operations of the Central Bank of Nigeria (CBN) and macroeconomic developments during the fiscal year 2006 and appraises the major economic policy outcomes during the period. The Bank reported a stable foreign exchange market in 2006, with an average effective official exchange rate of N 128.65 per U.S dollar, an increase of 2.6% over 2005. The stock of external reserves, valued at US$12.30 billion, was 49.6% higher than in 2005, driven by high crude oil prices and lower debt-service burden. The reserves were equivalent to 28.4 months of import cover, exceeding the 6 months requirement under …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2001, Central Bank Of Nigeria Dec 2001

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2001, Central Bank Of Nigeria

CBN Annual Report

The Report, as in the past, reviews the operations of the Central Bank of Nigeria in its efforts at discharging its mandate for the fiscal year 2001. The major objectives of monetary policy for 2001 were outlined in the Bank's Monetary Policy Circular No. 35, which aimed to maintain internal and external balance, contribute to sustainable output growth and poverty reduction, and focus on the banking system, rate, rate regime, viability, and stability. Key policy targets included growth in broad money, narrow money, aggregate bank credit, growth in bank credit to the government, private sector, inflation rate, and GDP growth. …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2000, Central Bank Of Nigeria Dec 2000

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2000, Central Bank Of Nigeria

CBN Annual Report

This Report reviews the operations of the Central Bank of Nigeria (CBN) and macroeconomic developments during the fiscal year 2000 and appraises the major economic policy outcomes during the period. The bank is responsible for administering the Banks and Other Financial Institutions (BOFI) Act, which aims to ensure high standards of banking practice and financial stability through surveillance activities and the promotion of an efficient payments and clearing system. The bank's major objectives for monetary policy in 2000 were outlined in the Bank's Monetary Policy Circular No. 34. Key policy targets included growth in broad money, narrow money, aggregate bank …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1999, Central Bank Of Nigeria Dec 1999

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1999, Central Bank Of Nigeria

CBN Annual Report

The Annual Report contains details of Central Bank of Nigeria (CBN) financial activities during the 1999 accounting year in accordance with statutory requirement. During the period under review, the Bank carried out its core functions under CBN Decree No. 24, 1991, and the Banks and Other Financial Institutions (BOFI Decree No. 25, 1991). The CBN also performed developmental and technical assistance roles to contribute to economic development and capacity building. In 1999, the CBN carried out core functions, including issuance of currency notes and coins, maintaining Nigeria's external reserves, and promoting monetary stability. The Bank implemented policies to reduce excess …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria Dec 1997

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria

CBN Annual Report

In 1997, Nigeria experienced its third consecutive year of macroeconomic stability, resulting in modest improvement in domestic output growth and a persistently low inflation rate. The balance of payments position showed a modest surplus, and significant success was achieved in reducing domestic liquidity growth. Domestic output expanded further due to increased agricultural output and crude petroleum production, while the inflation rate declined further. Domestic output, measured by the Gross Domestic Product (GDP), increased by 3.8% in 1997, as against the average growth rate of 2.3% in the preceding three years. The fight against inflation was highly successful, reaching a single …

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An Overview Of Foreign Investment In Nigeria: 1960 - 1995, V.A Odozi Jun 1995

An Overview Of Foreign Investment In Nigeria: 1960 - 1995, V.A Odozi

CBN Occasional Papers

This paper examines the crucial role of direct foreign investment in Nigeria's economic development, with particular emphasis on transfer of technology, support for balance of payments and the facilitation of the structural adjustment programme. The paper then evaluates the country's efforts at promoting foreign investment and highlights important lessons to be learnt over the years. On the basis of available data, the paper believes foreign investment out-turn in Nigeria was generally unsatisfactory. Between 1970 and 1976, investment inflow through existing enterprises in Nigeria rose in nominal terms from N251.0 million to N757.4 million. Thereafter, it fluctuated freely, rising to N2,193.4 …

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The Economics Of Controls And Deregulation: The Nigerian Case Study, M. O. Ojo Oct 1994

The Economics Of Controls And Deregulation: The Nigerian Case Study, M. O. Ojo

CBN Occasional Papers

The abandonment of economic controls and the adoption of deregulatory measures in the mid-1 980s were expected to usher in economic recovery and sustained growth in Nigeria. In the wake of the apparent failure of the adopted policy regime to attain that primary goal, there Is a need to investigate the efficacy of the policy instruments adopted and the fundamental causes of persistent economic downturn. The paper reviews Nigeria’s experiences in the use of economic control tools and measures of liberalisation, as well as the international evidence. A major finding of the study is that the programme of deregulation was …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1994, Central Bank Of Nigeria Jan 1994

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1994, Central Bank Of Nigeria

CBN Annual Report

In 1994, Nigeria faced economic challenges such as declining GDP growth, inflation, and a weakened external sector due to expansionary fiscal and monetary policies, political unrest, and labor issues. Despite this, the global economy saw stronger recovery in industrialized countries and developing regions like Asia and Latin America. The Nigerian economy struggled with slow growth, manufacturing decline, rising inflation, large budget deficit, and weakened external sector performance. Efforts to stabilize the exchange rate were hindered by differences between official and unofficial market rates. Internationally, there were improvements in the world economy with higher growth rates in developed and developing countries. …

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Central Bank Of Nigeria Statistical Bulletin, June 1992, Central Bank Of Nigeria Jun 1992

Central Bank Of Nigeria Statistical Bulletin, June 1992, Central Bank Of Nigeria

CBN Statistical Bulletin

This volume data on various aspects of Nigeria's economy, including debt and banking sub-sector, central banking, financial markets, non-bank financial institutions, system clearinghouse activities, merchant and commercial banking, and public finance statistics for the year 1999. The data on financial institutions is based on the consolidation of commercial and merchant banks' first and second schedule statutory returns, computation of liquidity ratio, cash reserve ratio, loan/deposit ratio, proportion of loans to rural borrowers and small-scale enterprises, aggregate and sectoral distribution of credits, and the structure of licensed banks loans and advances. The data on financial markets is based on the consolidation …

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Entral Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1989, Central Bank Of Nigeria Dec 1989

Entral Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1989, Central Bank Of Nigeria

CBN Annual Report

The Nigerian economy showed improvement in 1989 compared to 1988. Economic Growth: Gross Domestic Product (GDP) increased by 4.0%, driven by growth in agriculture and industry. The overall balance of payments moved from a deficit to a surplus, largely due to a significant increase in crude oil exports. The unemployment rate declined slightly, with more jobs created through government programs. Nigeria's external assets increased significantly, reflecting a deliberate policy to build official reserves. Inflation: Despite some improvement, inflationary pressures remained high, with domestic prices rising by 40.9%. Stagnant Manufacturing: Manufacturing production grew at a slow pace due to high production …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1986, Central Bank Of Nigeria Dec 1986

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1986, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1986 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1986. The development in 1986 were mixed. The GDP at constant 1977/78 factor cost was estimated at N25,290 million, representing a decline of 3.3 per cent and the decline was largely due to poor performance of the manufacturing, crude petroleum, wholesale and retail trade sectors. The trajectory of monetary aggregates was relatively in the download direction. Money supply indicated a 1.2 per …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1984, Central Bank Of Nigeria Dec 1984

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1984, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1984 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1984. It also examines future economic outlook. In 1984, the index of industrial production fell by 10.2 per cent significantly due to the poor performance of the manufacturing sector whose index of production fell by 18.2 per cent. In respect of domestic prices, the supply-side factors were dominant in exerting upward pressures on prices. There were acute shortages in consumer goods and …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1983, Central Bank Of Nigeria Dec 1983

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1983, Central Bank Of Nigeria

CBN Annual Report

In 1983, Nigeria's economy experienced severe stagflation, with GDP falling by 4.4%, more than the 3.4% decline recorded in 1982. Domestic inflation was 23.2%, more than three times the 7.7% recorded in 1982. The external sector also suffered from the general malaise, with the recorded value of external trade falling from N21.3 billion in 1982 to N17.3 billion in 1983. Agricultural production fell sharply due to severe droughts, bush fires, and diseases/pest infestations in livestock and crops. The volume of primary commercial energy consumed increased, with the index going up by 4.4% in 1983. Inflationary pressures intensified due to the …

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Central Bank Of Nigeria Annual Report And Statement Of Account For The Year Ended 31st December, 1982, Central Bank Of Nigeria Dec 1982

Central Bank Of Nigeria Annual Report And Statement Of Account For The Year Ended 31st December, 1982, Central Bank Of Nigeria

CBN Annual Report

The economic slowdown in 1981-1982 led to a decline in mineral and export crop production, with crude oil production falling from 1.440 million barrels in 1981 to 1.29 million barrels in 1982. The Central Bank of Nigeria business survey showed increased manufacturing sales and inventories of finished goods. Inflation decelerated to its lowest level since 1973, mainly due to reduced monetary expansion and increased production of staple food, livestock products, and fish. The money supply rose by 5.6% in 1980 and 3.1% in 1982, but the government sector's share in bank credit increased. The Gross National Product of all industrialized …

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Central Bank Of Nigeria Annual Report And Statement Of Account For The Year Ended 31st December 1981, Central Bank Of Nigeria Dec 1981

Central Bank Of Nigeria Annual Report And Statement Of Account For The Year Ended 31st December 1981, Central Bank Of Nigeria

CBN Annual Report

In 1981, Nigeria's economy experienced a 7.9% decline in industrial production, primarily due to a decline in mining production, particularly petroleum. Manufacturing output increased by 5.7%, while agricultural production showed some improvement. Inflation worsened, with the composite consumer price index rising by 20.8%. Monetary expansion slowed down, but a 5.6% increase was recorded at the end of the year. The aggregate banking system's credit to the economy increased by 5.8%, with the Federal Government budgeting for current services. The external sector experienced a large balance of payments deficit, resulting in a drawdown of the nation's reserves. The world economy slowed …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1965, Central Bank Of Nigeria Dec 1965

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1965, Central Bank Of Nigeria

CBN Annual Report

CBN Annual Report and Statement of Accounts for 1965 discussed the economic performance of Nigeria with emphasis on inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. Two major developments dominated the world economic scene in 1965. One was the overall slowdown of economic expansion in most industrialized countries. The other was the overall contraction in the growth rate of world trade and in the flow of international capital. Due to the problem of balance of payment disequilibrium, the industrialized countries intensified economic measures to achieve internal stability and equilibrium …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1964, Central Bank Of Nigeria Dec 1964

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1964, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1964 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1964. Export earnings of the developing countries rose during 1964, reflecting a continuing upswing in economic activity in the industrial countries. The rate of increase, however, was somewhat slower than in 1963. The share of the developing countries in total world exports in 1964, however, amounted to 22.1 per cent as compared with 22.9 per cent in 1963. World exports rose substantially …

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1963, Central Bank Of Nigeria Dec 1963

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1963, Central Bank Of Nigeria

CBN Annual Report

CBN Annual Report and Statement of Accounts for 1963 discussed the economic performance of Nigeria with emphasis on inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. Nigeria's economy made significant gains in 1963. The tempo of activity advanced in most sectors of the economy, giving indications of some recovery from the slackened pace of the preceding year. Despite this improvement, however, the performance of the economy did not meet expectations, nor were existing resources fully utilized. In 1962-63, gross income received by producers of agricultural export commodities rose by …

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