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Macroeconomics

Central Bank of Nigeria

Journal

2004

Articles 1 - 11 of 11

Full-Text Articles in Social and Behavioral Sciences

Keynote Address, Sanusi O. Joseph Mar 2004

Keynote Address, Sanusi O. Joseph

Bullion

This is a keynote address delivered at the 5th Annual Finance Correspondents and Business Editors Seminar held in Owerri, lmo State from 26th – 28th January, 2004. It is the fifth in the series of the seminar initiated by the Central Bank of Nigeria (CBN), to enhance the understanding and analytical ability of Finance Correspondents and Business Editors on topical economic issues, particularly monetary and financial sector development. It presents an opportunity for them to appreciate and analyse the Bank's policies and operations better, as well as, facilitate improvement in reporting on those issues. It will help …

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An Overview Of The Nigerian Financial System, Aderibigbe J. O. Mar 2004

An Overview Of The Nigerian Financial System, Aderibigbe J. O.

Bullion

Financial systems, the world over, play fundamental roles in the development and growth of the economy. The effectiveness and efficiency in performing these roles, particularly the intermediation between the surplus and deficit units of the economy, depend largely on the level of development of the financial system. It is to ensure its soundness that the financial sector appears to be the most regulated and controlled by the government and its agencies. This paper discusses issues and strategies for enhancing the soundness and stability of the nation's financial system, the roles of the financial system in the promotion of economic growth …

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The Role Of The Central Bank In The Nigeria Financial System, Onyido C. Ben Mar 2004

The Role Of The Central Bank In The Nigeria Financial System, Onyido C. Ben

Bullion

The central bank is pivotal in the management of the national economy. lts role is not only to regulate and monitor the financial system, but also to ensure its development, prevent financial distress which could undermine confidence in the system as well as facilitate sustained growth. This paper presents an overview of the Nigerian financial system, the functions of the Central Bank of Nigeria (CBN). It examines the Bank's monetary management, surveillance and promotional roles and the challenges for the CBN. The study concludes that, the enhanced operational autonomy of the CBN has provided a unique opportunity for the Bank …

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Institutional Framework For The Regulation And Supervision Of The Financial Sector, Mordi N. Charles Mar 2004

Institutional Framework For The Regulation And Supervision Of The Financial Sector, Mordi N. Charles

Bullion

Since the 1980s, there has been international consensus on the issue of adequate regulation and supervision of the financial sector (and, in particular, banking institutions) and this issue have featured prominently in many international fora where discussions have centred on the operations/health of the financial sector, whether in developed or developing countries. This paper focusses attention on the institutional framework for the regulation and supervision of the financial sector in Nigeria. It attempts to identify the various institutions that make up the financial sector and articulates how they are regulated and supervised and who has responsibility for what, so as …

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Macroeconomics/Structural Policies And Financial Sector Stability: The Challenges, Nnanna O. J Mar 2004

Macroeconomics/Structural Policies And Financial Sector Stability: The Challenges, Nnanna O. J

Bullion

The financial system plays an important role in the process of economic growth and development of a country. A financial system consists of various institutions, markets, instruments and operators that interact within an economy to provide financial services. It plays the crucial roles of lubricating the payment mechanism, resource mobilisation and credit allocation. The Nigerian financial sector comprises the regulatory/supervisory authorities, deposit money banks, and other nonbank financial institutions. The objective of this paper is to examine the effect of macroeconomic/ structural policies on the financial sector, as well as the challenges of maintaining financial sector stability in Nigeria. The …

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The Impact Of The Operations Of The Non-Bank Financial Institutions On Financial Sector Stability, Bamisile A. Sesan Mar 2004

The Impact Of The Operations Of The Non-Bank Financial Institutions On Financial Sector Stability, Bamisile A. Sesan

Bullion

The Banks and Other Financial institutions Act (BOFIA) defines an NBFI to mean "any individual, body, association or group of persons; whether corporate or unincorporated, other than the banks licenced under the Act which carries on the business of a discount house, finance company and money brokerage and whose principal object include factoring, project financing, equipment leasing, debt administration, fund management, private ledger services, investment management, local purchase order financing, export finance, project consultancy financial consultancy, pension fund management and such other business as the Bank may, from time to time, designate". This paper affords the opportunity to explain and …

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The Experience Of Banking Supervision In Financial Sector Surveillance., Imala O. I. Mar 2004

The Experience Of Banking Supervision In Financial Sector Surveillance., Imala O. I.

Bullion

A country's financial sector is the major channel through which funds are mobilized for borrowing and lending transactions. A poorly regulated or managed financial sector or one with insufficient capital for the risks it takes, can increase a country's vulnerability to financial crises. This paper highlights the importance of financial sector regulation and supervision, techniques of supervision, symptoms and causes of distress, measures put in place by the regulatory/supervisory authorities to guard against future systematic distress and the role of multilateral agencies. However, the study concluded that there is no doubt that good corporate governance is a major factor in …

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The Role Of Deposit Insurance In Financial Sector Stability, Umoh N. Peter Mar 2004

The Role Of Deposit Insurance In Financial Sector Stability, Umoh N. Peter

Bullion

It might be necessary to start explaining the terms involved in the above topic. A Deposit insurance Scheme (DlS) is an arrangement whereby a designated agency (usually government-owned) guarantees deposits in insured financial institutions This paper discusses the guarantee function and financial sector stability, the supervisory function and financial sector stability, the liquidation function and financial sector stability and the other contributions of Nigeria Deposit Insurance Corporation (NDIC). The study concluded that, "Financial Sector Stability: lssues and Challenges" is not only appropriate but quite timely given the rumours making the rounds about unfounded banking distress.

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Internationalisation Of Financial Services: Challenges For Financial Sector Stability In Nigeria., Adeola Ade Mar 2004

Internationalisation Of Financial Services: Challenges For Financial Sector Stability In Nigeria., Adeola Ade

Bullion

Internationalisation or Globalisation refers to the increasing integration of "economics around the world, particularly through trade and financial flows. lt is the actual movement, the capacity to move and the potential movement across nations of trade, , investment, technology, finance and labour. lt's also involves the effects of these I forces and the consequent liberalization I of the market. This paper focuses on internationalisation as it relates to the financial sector in Nigeria and its most common manifestation, which is liberalization. It aims to identify ways in which we can benefit from this process while remaining realistic about its potential …

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Causes Of Bank Distress And Resolution Options, Donli J. G Mar 2004

Causes Of Bank Distress And Resolution Options, Donli J. G

Bullion

A meaningful analysis of causes of bank distress and the options for resolution would probably need to be preceded by a brief discussion of the role of banks in an economy. This paper examines the meaning of bank distress, it presents a detailed discussion of the main causes of bank distress as they relate to Nigeria in particular, it provides a review of the literature on resolution options as well as an enumeration of resolution options adopted to address bank distress in Nigeria. lt's has been observed in the paper that while the general causes of bank distress appear to …

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The New Capital Accord: Challenges For The Central Bank Of Nigeria And Nigerian Banks., Imala O. Ignatius Mar 2004

The New Capital Accord: Challenges For The Central Bank Of Nigeria And Nigerian Banks., Imala O. Ignatius

Bullion

Capital occupies a vital position in the life of a bank, like any other business. It plays the role of a cushion for losses resulting from crystallisation of the various risks a business entity is exposed to. This paper summarises the 1988 Accord and its inadequacies. It introduces the new Accord, the need for it and its structure. It highlights the challenges to both operators and regulators, and It discusses efforts of the supervisory authorities to implement the Accord in Nigeria. The challenges highlighted in this paper are by no means exhaustive but it is believed that the attempt would …

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