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Articles 1 - 30 of 72
Full-Text Articles in Social and Behavioral Sciences
External Sector Liberalization And Output Growth In Nigeria, Emmanuel A. Onwioduokit, Obong E. Effiong
External Sector Liberalization And Output Growth In Nigeria, Emmanuel A. Onwioduokit, Obong E. Effiong
Bullion
The paper investigates the impact of external sector liberalization (foreign direct investment, external debt stock, trade openness and exchange rate) on the output growth in Nigeria from the period 1981 to 2019, utilizing correlation analysis, Granger causality test and vector autoregression (VAR). The results indicate that foreign direct investment, external debt stock, trade openness and exchange rate all correlate positively with gross domestic product. Also, the granger causality test indicates that foreign direct investment, trade openness and exchange rate granger cause the output growth in Nigeria. From the VAR result foreign direct investment exerted positive and significant impact on the …
The Implications Of Legal And Policy Frameworks For E-Commerce In Nigeria, Chinelo Constance Ugwu, Ann Ogbo Ph.D
The Implications Of Legal And Policy Frameworks For E-Commerce In Nigeria, Chinelo Constance Ugwu, Ann Ogbo Ph.D
Bullion
This article seeks to throw light on the legal implications of E-commerce as it affects users in Nigeria. It outlines basic requirements for smooth running of online business in Nigeria from registration to full operations. It also looks at the preparedness of the Nigerian Government to position the country alongside its peers on the digital business map in terms of cyber space security. The paper is structured in the following manner: Conceptual review of E-commerce is discussed in the first section while the second section outlines Nigeria's Preparedness and the journey so far. The third section briefly explains the global …
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Bullion
Financial Technology is becoming paramount in all financial institutions, being utilized in helping companies manage most of their financial operations efficiently through the use of software and specialized algorithms. The future of finance will shine brightest when it provides standard and valuable services to the society, however this will come with its own merits and demerits. I have prepared this report to carry out a detailed discussion on the impact that the AML/CFT controls have on FinTech and the financial inclusion initiative in sub-Saharan Africa. The AML/CFT controls can be applied more effectively in the formal systems for banking and …
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Bullion
This study investigates the relationship between financial deepening and socioeconomic development in Nigeria. The specific objectives examined the impacts of broad money supply, private sector credit and financial openness on human development index in Nigeria from 1991 to 2018. Time series data on each of the variables were analyzed using Fully Modified Least Squares and Granger Causality test. The unit root test results revealed that all the variables in the model became stationary after first difference and are all I (1). The cointegration test result revealed that the variables had long run relationships. The cointegrating regression result indicated that broad …
Relationship Between Volatility In Domestic Oil Production, Oil Price And Exchange Rate In Nigeria: Co-Integration And Granger Causality Tests, Bashir Umar Faruk
Relationship Between Volatility In Domestic Oil Production, Oil Price And Exchange Rate In Nigeria: Co-Integration And Granger Causality Tests, Bashir Umar Faruk
Bullion
The paper examines the relationship between volatility in domestic oil production, oil prices, and exchange rate in Nigeria. The study employs monthly time series data, from January 2006 to August 2018. Data for the Nigerian Bonny light oil prices (COP), Domestic Oil Production (DOP) and Exchange Rate (EXC) are obtained from the Central Bank of Nigeria (CBN) website. While, dummy variable (DUM) represents stability and instability in the Niger-Delta oil-rich region was traced from historic oil disruptions in the region. Autoregres s i ve Di s tributed Lag (ARDL)/bound testing method and pairwise granger causality were employed. Unit root test …
Impact Of Tax Revenue On Economic Growth In Nigeria (1981-2017), Abubakar Biliksu Aliyu, A. A. Mustapha
Impact Of Tax Revenue On Economic Growth In Nigeria (1981-2017), Abubakar Biliksu Aliyu, A. A. Mustapha
Bullion
The main objective of this research is to assess empirically the impact of tax revenue on economic growth in Nigeria, spanning from 1981 to 2017. It employs, time series data obtained from the CBN statistical bulletins, FIRS annual publications and National Bureau of Statistics (NBS) portal. To achieve the objectives of the study, OLS and ARDL techniques were employed to estimate the relationships and the dynamics and longrun effects of independent variables on dependent variable. ARDL bound test revealed that the variables are cointegrated while ARDL long-run estimation indicated that petroleum profit, value added tax and government domestic debt are …
Portfolio Capital Inflows And Banking Crisis In Emerging Market And Developing Economies (Mdes): Bank-Level Evidence From Nigeria, Tijjani Mohammed Jume
Portfolio Capital Inflows And Banking Crisis In Emerging Market And Developing Economies (Mdes): Bank-Level Evidence From Nigeria, Tijjani Mohammed Jume
Bullion
The objective of the paper is to assess the effects of foreign portfolio capital surge on the banking sector in Nigeria from 2005 - 2018. Using a simple trend analysing a static general equilibrium framework, the paper reveals that portfolio capital inflows, in the wake of monetary policy independence in Nigeria, led to portfolio capital surge which resulted to credit boom and speculative transactions in the Nigerian Stock Exchange (NSE) leading to assets price bubble. When the bubble burst during the global financial crisis (GFC) in 2007, and thereafter in 2014, portfolio capital inflows reversed and banking stocks prices declined …
State's Fiscal Dependency And Implications On Monetary Management In Nigeria, Akinboyo O. Lawrence, Apinran O. Martins
State's Fiscal Dependency And Implications On Monetary Management In Nigeria, Akinboyo O. Lawrence, Apinran O. Martins
Bullion
This study examines fiscal management by States in Nigeria and its potential to sustain growth and development. The study used secondary data from the Bank's Statistical Bulletin and the Nigeria Bureau of Statistics. Information on monthly allocations to States, internally Generated Revenue, Debt stock, total Revenue, and Total expenditure were used to examine fiscal imbalance in the States. Data were collected on statutory allocations to States by the Federation Account Allocation Committee (FAAC), Internally Generated Revenue (IGR), States' debt stock, capital and recurrent expenditure from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS). Descriptive statistics …
An Overview Of The Cheque Payments System In Nigeria, Onyeka Samuel Okonkwo
An Overview Of The Cheque Payments System In Nigeria, Onyeka Samuel Okonkwo
Bullion
This paper is designed to examine critically the modern trends in the cheque payments system in Nigeria. In the light of this, the paper is divided into nine parts. The second part of the paper examines the concepts of payment , clearing and settlement. The evolution of cheque clearing in Nigeria is examined in part three. The part four presents the cheque standard in Nigeria. The part five gives the synopsis of cheque payment in Nigeria while the cheque truncation system(CTS) and its benefits and challenges are examined in part six and part seven respectively. The paper concludes with recommendations …
Demystifying The Microeconomic Foundation Of Economic Development In Nigeria: Evidence From Ease Of Doing Business Index, Imandojemu Kingsley
Demystifying The Microeconomic Foundation Of Economic Development In Nigeria: Evidence From Ease Of Doing Business Index, Imandojemu Kingsley
Bullion
The welfare of the citizenry in a modern economy depends critically on the state of the consumer behaviour of the household and the production decisions of business firms. Despite the efforts of the monetary authorities in supporting the micro-components of the economy and invariably improving the Ease of Doing Business in the country, very little has been done to evaluate their appropriateness in stimulating economic development. Against this backdrop, this paper critically examines the impact of supporting the microeconomic units on economic development in Nigeria.
Fss 2020 Financial Markets Programme: Progress So Far, Charles Ohamara
Fss 2020 Financial Markets Programme: Progress So Far, Charles Ohamara
Bullion
The Financial System Strategy (FSS) 2020 is a national reform program aimed at developing and transforming Nigeria's financial sector into a growth catalyst to fast track the achievement of the Vision 20:2020 and engineer Nigeria's evolution into on International Financial Centre. The strategic objectives of FSS2020 are to strengthen and deepen the domestic financial markets, enhance the integration of domestic financial markets with the external financial markets and supporting the reals sector. To attain these objectives, the key regulators of the Nigerian financial system come together under the leadership of the Central Bank of Nigeria and crafted the vision to …
Overview Of Non-Oil Sector In Nigeria., Uwatt B. Uwatt
Overview Of Non-Oil Sector In Nigeria., Uwatt B. Uwatt
Bullion
This paper is to enhance the understanding of the non-oil sector in Nigeria, The underlying need is the emphasis on why the sector should be embraced as the new economic bride, not only by the government, but by oil and sundry, to fast-track economic recovery and enhance sustainable growth.
Promoting Non-Oil Sector Financing In Nigeria: The Role Of The Media., Ugochukwu A. Okoroafor
Promoting Non-Oil Sector Financing In Nigeria: The Role Of The Media., Ugochukwu A. Okoroafor
Bullion
ln the case of Nigeria, the dominance of earnings from crude oil as a source of external revenue become pronounced in the wake of the positive oil shocks of the 1970s as the Organisation of Petroleum Exporting Countries (OPEC) began to effectively exert its powers as a cartel. In the light of a few developments in the sector, it is clear that the oil sector can no longer power the economy of Nigeria. As a result the non-oil and the private sector are required to ensure that Nigeria develops well-rounded and sustainable economic outcomes.
Monetary Policy And Financing Real Sector Growth In Nigeria., Moses K. Tule
Monetary Policy And Financing Real Sector Growth In Nigeria., Moses K. Tule
Bullion
The study examines CBN's real sector financing initiatives and implication for real sector growth and economic development. Section 2 discusses selected CBN real sector financing initiatives. Section 3 is the implications of the initiatives for growth and economic management. Section 4 discusses challenges of implementing the policies while section 5 concludes the paper and presents suggestions on the way forward.
Overview Of Development Financing: The Case Of Central Bank Of Nigeria, M. A. Olaitan
Overview Of Development Financing: The Case Of Central Bank Of Nigeria, M. A. Olaitan
Bullion
This study highlighted the functions of Central Bank under development finance and economic development, and it also went further to state the mandate of the development finance Department which is the development and implementation of policies, programmes and schemes aimed at the effective, efficient and sustainable delivery of financial services to the real sector of the Nigerian economy. The objective of the mandate are to increase the flow of financial resources to the real sector, create wealth and jobs, reduce poverty and so on.
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 …
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.
Macroeconomic Trillema And Monetary Policy In Nigeria, Moses K. Tule
Macroeconomic Trillema And Monetary Policy In Nigeria, Moses K. Tule
Bullion
The paper explores how the macroeconomic trilemma influences monetary Policy choices and action in practical terms. Section 1 is the introduction, section 2 examines in greater details key conceptual issues. After it a review of the historical epochs of the trilemma, followed by contemporary country experiences in managing the trilemma. Section five examines the challenges of the trilemma in Nigeria while the last section concludes the paper.
Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili
Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili
Bullion
The paper looks at the basic concepts in GDP compilation and the computational processes for the rebased GDP. The paper is structured into four sections. The first section deals with the introduction while section two explains some basic concepts and mathematics for GDP compilation. Section three takes a look at the GDP Rebasing while section four deals with the Recent Development from the rebasing exercise.
External Reserves Management And Utilization: Nigeria Experience, Emelogu C. Obioma, Abdurrahman Abdullahi
External Reserves Management And Utilization: Nigeria Experience, Emelogu C. Obioma, Abdurrahman Abdullahi
Bullion
The objective of this paper is to appraise developments in external reserves management and utilization in Nigeria, with o view to identifying major challenges and proffering solutions. The paper is divided into six sections. Following this introductory section, section two reviews some of the major conceptual and analytical issues on external reserves management and utilization, while section three discusses Nigeria's external reserves management process. Section four appraises developments in external reserves management and utilization, as well as examines the impact of external reserves on the four sectors of Nigerian economy. Section five highlights major challenges in external reserves management and …
A Framework For Oil Price Benchmark Determination: Lessons For Nigeria, Taiwo H. Sanni, Bassey D. Akpan
A Framework For Oil Price Benchmark Determination: Lessons For Nigeria, Taiwo H. Sanni, Bassey D. Akpan
Bullion
The main thrust of this paper is to draw lessons of experience from other selected oil producing countries. the outcome of the study is expected to help in strengthening Nigeria's oil price framework in line with international best practice. Section 2 dwells on the theoretical and literature review on oil based fiscal rule, while section 3 presents the framework for oil price benchmark determination and section 4 examines those factors capable of stimulating determination of oil price benchmark, lastly section 5 discusses some lessons of experience from Nigeria and then the conclusion.
How Would Non-Interest Banking Affect The Effectiveness Of Monetary Policy In Nigeria, Yusuf Adamu
How Would Non-Interest Banking Affect The Effectiveness Of Monetary Policy In Nigeria, Yusuf Adamu
Bullion
This article espouses the effectiveness of monetary policy in a dual economic framework (interest bearing/non-interest bearing). In other words it examines how the element non-interest banking when combined with interest bearing framework affect the effectiveness of monetary policy. The use of interest based instruments can effectively be combined with the identified non-interest interest instrument to conduct monetary policy. This article recommend that Nigeria should start thinking towards a policy that takes into account the monetary aggregate instruments as the main tool for executing monetary policy.
Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo
Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo
Bullion
While the short term measures to reduce recurrent expenditure are necessary conditions for fiscal sustainability, the long term imperative is to increase revenue. Thus, efforts should be made by the fiscal authorities in Nigeria to pursue the policy of balancing of expenditure with revenue improvements. The issues of the underperformance of the capital budget should be reversed before savings from cuts in recurrent expenditure can be diverted to the financing of capital expenditure. From the analysis, we say that removal of fuel subsidy would no doubt have some social and economic hardship on the people in the short run, However, …
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Bullion
In the past three decades, the Nigerian banking industry has suffered from a host of vices namely miss-management, financial misappropriation, administrative recklessness, etcetera, reflecting incompetence on all levels of management and those have had dire consequences in the economy. In an attempt to re-position the industry on the path of performance, different governments in the past took various corrective steps to no avail. Thus this study seeks to explore the Core Resources of Corporate Strategy and Performance-oriented Bank Management best practice with a view to creating sustainable best practices in bank management in Nigeria. The findings from the study are …
Unemployment And Economic Growth In Nigeria: An Empirical Re-Examination, Emmanuel Ating Onwioduokit
Unemployment And Economic Growth In Nigeria: An Empirical Re-Examination, Emmanuel Ating Onwioduokit
Bullion
This paper investigates the relationship between unemployment and economic growth in Nigeria through the implementation of the Okun’s law using the data from 1980 to 2013. The result indicates that the Okun’s law cannot be confirmed for Nigeria as the Okun’s co-efficient though properly signed was not significant at conventional level. As a result economic policies allied to demand management might not have the desired outcome of reducing unemployment in the country. Thus, the implementation of economic policy learning towards structural change and reforms in the labour market would be more appropriate to reduce unemployment in Nigeria.
The Legal And Regulatory Framework For Non-Interest Banking In Nigeria, A. Atta
The Legal And Regulatory Framework For Non-Interest Banking In Nigeria, A. Atta
Bullion
Non-interest bonking is one of the aspects of Islamic finance. Islamic finance distinguishes itself from conventional finance through its compliance with the principles of Islamic commercial jurisprudence. This paper examines the legal and regulatory framework for non-interest banking in Nigeria. First the paper explored the global development of non-interest banking and goes further to highlight why would non-interest banking be beneficial for Nigeria?; In identifying this, the paper highlighted the main contracts that would be used for transactions which include: Profit sharing agreements, Joint venture agreements, Purchase and resole contracts, investment Certificates, insurance; the current legal and regulatory framework and …
The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji
The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji
Bullion
The paper examines non-interest Banking model that operates devoid of interest in lending, financing, deposit-taking and all forms of financial intermediation. Hence, the bank becomes an important financial institution for enhancing growth and development in an economy. The article is divided into five section, the first being the introduction, section two contains the conceptual framework, three highlights non-interest banking in Nigeria and four concludes the paper.
Exploiting Public Private Partnership As A Tool For Infrastructure Development In Nigeria., Sani F. Mohammed
Exploiting Public Private Partnership As A Tool For Infrastructure Development In Nigeria., Sani F. Mohammed
Bullion
The paper highlights the importance of infrastructure development to economic growth and the need for government to toke a more strategic approach to tackling its dearth in Nigeria stressing the need to consider the Public-Private Partnership (PPP) as the preferred public infrastructure procurement option. This was in the light of the fact that the traditional procurement methods hove proved ineffective due to the growing competition for limited state funds, and the citizens' higher expectations for efficient services in critical sectors such as power, transportation, waste management. etc. The paper also reviewed the literature on PPP, its models, benefits and examples …
Money And Inflation: Evaluating The Effectiveness Of Monetary Policy In Nigeria, Mbutor O. Mbutor, Okafor Ifeanyi Izuchukwu, Ameh Oguche Sunday
Money And Inflation: Evaluating The Effectiveness Of Monetary Policy In Nigeria, Mbutor O. Mbutor, Okafor Ifeanyi Izuchukwu, Ameh Oguche Sunday
Bullion
The paper establishes the relationship between monetary policy and inflation.
Liquidity Forecasting: Nigeria's Experience, Abdulrasheed Zubair
Liquidity Forecasting: Nigeria's Experience, Abdulrasheed Zubair
Bullion
This paper discusses the experience of the Central Bank of Nigeria (CBN) in liquidity forecasting by examining the key components of the Central Bank balance sheet. The paper is divided into four sections; following this, is section two which discusses the conceptual framework. Section three covers Nigerian experience in liquidity forecasting and techniques employed while section four contains the challenges of liquidity forecasting in Nigeria and the way forward and lastly, section five concludes the paper.