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Social and Behavioral Sciences Commons™
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Articles 1 - 30 of 39
Full-Text Articles in Social and Behavioral Sciences
Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi
Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi
Economic and Financial Review
The keynote address delivered by the Governor, Central Bank of Nigeria at the Executive Seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff held in Eko Hotel and Suites, Victoria Island, Lagos State, May 7-10, 2012
Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal
Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal
Economic and Financial Review
The paper adopts content analysis method to investigate the underlying assumptions of the pillar of growth within the framework of Nigeria Vision 20:2020 (NV20:2020) and the transformation agenda. The aim is to show how realistic the underlying assumptions are and whether or not the available structure/measures of the financial system would be sufficient to finance the Vision. The conclusion is that the present Transformation Agenda and indeed the Medium-Term Implementation Plans adequately provide for the financing of NV20:2020 if the provisions of the documents are strictly adhered to.
Special Remarks By Sarah O. Alade, Ph.D (Mrs), Sarah O. Alade
Special Remarks By Sarah O. Alade, Ph.D (Mrs), Sarah O. Alade
Economic and Financial Review
Special remarks made by the Deputy Governor, (Economic Policy), Central Bank of Nigeria at the Executive seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff on May 7-10, 2012.
Financial Sector Development And Economic Growth: A Theoretical Exposition, Peter N. Umoh
Financial Sector Development And Economic Growth: A Theoretical Exposition, Peter N. Umoh
Economic and Financial Review
The various literature and studies reviewed in this exposition have underscored the positive impacts of a developed financial sector on an economy. Whilst a few studies showed that finance follows growth, the majority opinion is that finance leads growth. Unfortunately, growth has not led to economic development in many developing economies, necessitating intervention by such bodies as the United Nations, International Labour Organization and United Nations Development Programme. Economists are equally concerned about this development and have, therefore, conducted studies to show the relationship between economic growth and poverty alleviation. They generally agreed that growth is good for poverty reduction.
Financing The Real Sector For Sustainable Economic Growth In Nigeria: Performance, Challenges And Prospects, O. B. Obembe
Financing The Real Sector For Sustainable Economic Growth In Nigeria: Performance, Challenges And Prospects, O. B. Obembe
Economic and Financial Review
This paper examines some of the challenges constraining the financial sector in stimulating sustainable growth in Nigeria. It observes that for a successful real sector financing in Nigeria, a culture of accountability and transparency in the conduct of our national affairs must be taken seriously. The quality of governance must also be improved, to ensure that the legal framework for economic activities is well strengthened, such that the protection of creditors‘ rights may not be jeopardised.
Policy Choices And Challenges In Expanding Access To Finance For Growth In Rural Nigeria, Anthony E. Akinlo
Policy Choices And Challenges In Expanding Access To Finance For Growth In Rural Nigeria, Anthony E. Akinlo
Economic and Financial Review
Access to finance, in general, is fundamental to growth and development. A well-functioning financial market assists in channeling funds to their most productive uses, and allocates risks to those who can best bear it. An efficient financial sector that responds to the needs of the private sector increases investment, enhances economic growth, creates job opportunities and improves income distribution.
The Millenium Development Goals: What Roles For The Financial Sector In Nigeria, Jonathan A. Aremu
The Millenium Development Goals: What Roles For The Financial Sector In Nigeria, Jonathan A. Aremu
Economic and Financial Review
The purpose of this paper, therefore, is to redefine the role of the Nigerian financial sector towards meeting the MDGs by 2015. The paper is, thus, structured into four parts. Part I, briefly analyses the targets of the MDGs and the situation in Nigeria. In part II, an attempt is made to examine the various areas where the financial sector can offer helping hands in the implementation of the MDGs targets in Nigerian economy. While Part III examines the reasons why financial services in Nigeria are not within the reach of the MDGs target group (the poor), Part IV addresses …
Good Governance, Transparency And Regulatory Issues In Financial Sector Development And Stability, Bolaji Owasanoye
Good Governance, Transparency And Regulatory Issues In Financial Sector Development And Stability, Bolaji Owasanoye
Economic and Financial Review
This paper dwells on good governance, transparency and regulatory issues in financial sector development and stability. It starts off by defining the concepts of good governance and transparency. It goes further to discuss the financial services sector as well as regulation and development. It also discusses the relationship between transparency and accountability and further highlights the regulatory powers of the CBN relative to a developing economy.
The Central Bank Of Nigeria And Its Developmental Functions: A Review Of Current Initiatives, Cajethan M. Anyanwu
The Central Bank Of Nigeria And Its Developmental Functions: A Review Of Current Initiatives, Cajethan M. Anyanwu
Economic and Financial Review
The paper x-rays the role of the Central Bank of Nigeria as an agent of economic development. The central bank impacts the economy via: ensuring monetary and price stability; management of external reserves; issue of legal tender currency; financial system management; the payments system; and developmental roles. Its developmental role has been given special attention in recent years with its intervention in the real sector.
Financing Inclusive Growth In Nigeria: Challenges And Prospects, Sheriff A. Tella, Patrick I. Esenwah
Financing Inclusive Growth In Nigeria: Challenges And Prospects, Sheriff A. Tella, Patrick I. Esenwah
Economic and Financial Review
This paper is divided into four Sections. The first is the introduction and definition of the title of the article, next is Section 2, which contains literature on theoretical construct on economic growth and development models, including Inclusive Growth (IG) model while in Section 3 we present the role of money in economic growth. Section 4 looks at models of financial inclusion and evidence of financing inclusive growth in some developing countries. In Section 5, we identified challenges and prospects for financing inclusive growth in Nigeria. Section 5 is the concluding remark where some recommendations are proposed for successful inclusive …
Financing Infrastructure And Growth: Lessons And Experience, Ahmed Mansur
Financing Infrastructure And Growth: Lessons And Experience, Ahmed Mansur
Economic and Financial Review
The paper addresses the issue of finance for infrastructure, the adequacy or otherwise of the traditional annuall budgetary allocation, and alternative methods for funding infrastructure. The potentials of the stockmarket in filling the financing gap, option of Public Private Partnership (PPP) arrangement in upscaling our infrastructure is examined. The paper covers an assessment of the merits and demerits of PPP, the PPP process and framework in Nigeria, and how Nigeria could benefit from the experiences of other jurisdictions.
Rationale For Financial System Regulation And Supervision: A Global Perspective, Victor Ekpu
Rationale For Financial System Regulation And Supervision: A Global Perspective, Victor Ekpu
Bullion
The paper examines the enormous role of financial institutions, especially banks to the efficient functioning of the economy. The shortcomings of regulation and supervision, notwithstanding, one can argue that because of the special role that financial institutions play in the economy and the economic and social costs to society of their eventual failure, it is obvious that leaving the forces of demand and supply to bear will have adverse implications on the economy and the living standards of the nation's citizens. lt is on this note that i expound on the various reasons for financial system regulation in section 2. …
Diaspora Bonds: A Viable Source Of External Financing For Nigeria?, Omolara O. Duke
Diaspora Bonds: A Viable Source Of External Financing For Nigeria?, Omolara O. Duke
Bullion
The paper examines the need for external funding, arises from the inadequacy of domestic sources of funds to meet supply gaps and balance of payments (BOP) challenges and the potentials of Nigeria sourcing external financing through the issuance of Diaspora bonds. Following this introduction, Section ll reviews conceptual and empirical literature as well as country experiences on Diaspora bonds issuance. Section lll, discusses the bond market in Nigeria. ln Section lV. the prospects and challenges of issuing Diaspora bonds in Nigeria were highlighted. Section V concludes the paper.
Interoperability And Infrastructure Sharing Among Financial Services Providers, Akinwunmi O. Akinniyi
Interoperability And Infrastructure Sharing Among Financial Services Providers, Akinwunmi O. Akinniyi
Bullion
This paper seek to explore the issues around interoperability and infrastructure sharing among financial services providers. especially in the context of o developing notion with the aim of highlighting on efficient path to successful implementation of the concepts. Following this introduction is on attempt to underscore the importance of shared infrastructure. The section ll identifies some key criteria for determining candidate infrastructure for sharing. Section lll is a consideration of pathways to achieving shared and interoperable infrastructure. Section lV contains suggested recommendations for implementation and conclusions.
The Effect Of Global Financial Crisis On The Nigerian Capital Market: Lessons For Monetary Policy, Sunday Ogwuche Ameh
The Effect Of Global Financial Crisis On The Nigerian Capital Market: Lessons For Monetary Policy, Sunday Ogwuche Ameh
Bullion
The paper assesses the effect of the financial crisis on the Nigerian Capital market, and lessons for monetary policy with a view to providing valuable inputs that can be used to update policy decisions in Nigerian economy as well as examining the historical perspective of the recent global financial crisis.
Managing Diversity And Inclusion In The Central Bank Of Nigeria: Prospects And Challenges, Job A. Olorunshola
Managing Diversity And Inclusion In The Central Bank Of Nigeria: Prospects And Challenges, Job A. Olorunshola
Bullion
This paper discusses key issues in managing diversity and inclusion in the CBN for organizational effectiveness. It is organized into five sections. Section Two, following the introduction, provides some theoretical background while section Three x-rays evidence of diversity and inclusion the CBN. Section Four discusses the key challenges and the way-forward in diversity and inclusion management in the Bonk. The last section concludes the paper.
Understanding The Bretton Woods Institutions (Bwis) With Particular Reference To The International Monetary Fund (Imf), Adeniyi O. Adenuga, Osaretin Evbuomwan
Understanding The Bretton Woods Institutions (Bwis) With Particular Reference To The International Monetary Fund (Imf), Adeniyi O. Adenuga, Osaretin Evbuomwan
Bullion
The objective of this paper is to examine and discuss the workings of the Bretton Woods institution with particular focus on the international Monetary Fund (lMF). This is to enhance understanding of the expanded role of the lMF. The paper is divided into five parts. First is the introduction, Part ll, explains the IMF's role in the world economy, while Part lll presents relationships between the Fund and its members, highlighting member obligation to the Fund and Fund's obligation to its members. ln Port lV, the expanded roles of the Fund are discussed, while the conclusion is contained in Part …
Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien
Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien
Economic and Financial Review
This paper attempts to address the issues of the major impediments to mobilising investment funds, and the appropriate policies for achieving and guaranteeing finance for growth, by assessing the performance of financial policies of selected EMEs in mobilising financial resources for economic growth, and identifying policy options necessary for achieving finance for growth. The rest of the paper is organised as follows. Section 2 discusses the basic characteristics of emerging economies (EMEs), and Section 3 positions Nigeria among the EMEs within the context of finance for growth. Section 4 deals with challenges and constraints of Nigeria in achieving finance for …
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.
Overview And Conceptual Issues Of Non-Interest Banking In Nigeria, B. A. Umar
Overview And Conceptual Issues Of Non-Interest Banking In Nigeria, B. A. Umar
Bullion
This paper examines the role of non-interest banking in national development. The paper is divided into five sections, the first section contains the introduction, section 2 has the conceptual framework, section three gives non-interest bonking in Nigeria and section four concludes the paper.
Sources And Application Of Funds In Non Interest Banking Regime, A. S. Abdulkarim
Sources And Application Of Funds In Non Interest Banking Regime, A. S. Abdulkarim
Bullion
The concept of Islamic finance is a new phenomenon in Nigeria. At present there are over 300 Islamic Banks that are operational throughout the world. Like conventional banks, Islamic banks also needs funds to operate its banking activities.This paper explores the sources and application of funds in non-interest banking regime. Sources of funds to include deposits, deposits from other Islamic banks, banks equity, Islamic investment funds and placement from bank treasury.
Ecowas Single Currency By Year 2020: The Need For Timely And Reliable Data To Enhance The Achievement Of The Convergence Criteria, Olorunyomi L. Akinboyo
Ecowas Single Currency By Year 2020: The Need For Timely And Reliable Data To Enhance The Achievement Of The Convergence Criteria, Olorunyomi L. Akinboyo
Bullion
The issue of single currency in West Africa has long been on the agenda of the political and monetary authorities since the inception of ECOWAS in 1975. The principal aim of economic and monetary integration effort was to expand intra-community trade. As obtained in other regional blocks especially in the euro area where a single currency the, 'Euro' is used. ECOWAS identified a number of impediments to the development of inter-regional trade. which include multiplicity of currencies, widespread controls and restrictions on exchange transactions. Consequently, member central banks and other relevant agencies adopted brood and diverse set of statistical data, …
Monetary Integration: The West African Experience, Emmanuel Ating Onwioduokit
Monetary Integration: The West African Experience, Emmanuel Ating Onwioduokit
Bullion
This paper discusses the experience of monetary integration in West Africa. The second part of the paper presents on historical overview of monetary integration in West Africa. Part lll briefly examines the Union Economique et Monetoire Ouest Africaine (UEMOA). Part lV discusses the Second Monetary Zone in West Africa (WAMZ), while Part V contains performance assessment of the ECOWAS Monetary Cooperation Programme. The Lingering Challenges ore outlined in Port Vl. Part Vll contains some concluding remarks.
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.
Best Linear Unbiased Estimate Using Buys-Ballot Procedure When Trend-Cycle Component Is Linear, Ifeanyi S. Wueze, Nwogu C. Eleazar, Jude C. Ajaraogu
Best Linear Unbiased Estimate Using Buys-Ballot Procedure When Trend-Cycle Component Is Linear, Ifeanyi S. Wueze, Nwogu C. Eleazar, Jude C. Ajaraogu
CBN Journal of Applied Statistics (JAS)
The Best linear unbiased estimate (BLUE) of Buys-Ballot estimates when trend-cycle component is linear are discussed in this paper. The estimates are those proposed by Iwueze and Nwogu (2004). Discussed are the Chain Based Estimation (CBE) method and the Fixed Based Estimation (FBE) method. The variates for the CBE method were found to have constant mean and variance but are correlated with only one significant autocorrelation coefficient at lag one. The variates for the FBE method were found to have constant mean, non-constant variance but with constant autocorrelation coefficient at all lags . Because the CBE variates exhibit stationarity, Best …
Stock Market Reaction To Selected Macroeconomic Variables In The Nigerian Economy, Abraham Williams Terfa
Stock Market Reaction To Selected Macroeconomic Variables In The Nigerian Economy, Abraham Williams Terfa
CBN Journal of Applied Statistics (JAS)
This study examines the relationship between the stock market and selected macroeconomic variables in Nigeria. The all share index was used as a proxy for the stock market while inflation, interest and exchange rates were the macroeconomic variables selected. Employing error correction model, it was found that a significant negative short run relationship exists between the stock market and the minimum rediscounting rate (MRR) implying that, a decrease in the MRR, would improve the performance of the Nigerian stock market. It was also found that exchange rate stability in the long run, improves the performance of the stock market. Though …
On Fractionally Integrated Logistic Smooth Transitions In Time Series, Olanrewaju I. Shittu, Yaya S. Olaolua
On Fractionally Integrated Logistic Smooth Transitions In Time Series, Olanrewaju I. Shittu, Yaya S. Olaolua
CBN Journal of Applied Statistics (JAS)
Long memory and nonlinearity are two key features of some macroeconomic time series which are characterized by persistent shocks that seem to rise faster during recession than it falls during expansion. A variant of nonlinear time series model together with long memory are used to examine these features in inflation series for three economies. The results which compares favourably with that of van Dijk et al. (2002) elicit some interesting attributes of inflation in the developed and developing economies.
Global Financial Meltdown And The Reforms In The Nigerian Banking Sector, Sanusi L. Sanusi
Global Financial Meltdown And The Reforms In The Nigerian Banking Sector, Sanusi L. Sanusi
CBN Journal of Applied Statistics (JAS)
The paper examined the global financial meltdown and the reforms in the Nigerian banking sector. It was a public speech by the formal Governor of the Central Bank of Nigeria that observed the extent and severity of the crisis that began with the bursting of the housing bubble in the United States in August 2007 reflects the confluence of myriad of factors some of which are familiar from previous crises, while others are new. As in previous times of financial turmoil, the pre-crisis period was characterized by (i) surging asset prices that proved unsustainable; (ii) a prolonged credit expansion leading …