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Articles 691 - 720 of 1240

Full-Text Articles in Economics

Challenges Of Exchange Rate Volatility In Economic Management In Nigeria., Charles N.O Mordi Sep 2006

Challenges Of Exchange Rate Volatility In Economic Management In Nigeria., Charles N.O Mordi

Bullion

The motive behind initiating an exchange rate policy, an integral element of monetary policy, is to preserve the value of the domestic currency, maintain favorable external reserves and ensure the realization of price stability in the domestic economy. The pursuance of these goals is to ensure external balance without compromising the need for internal balance and macroeconomic stability. It is important that the monetary authority, in its bid to designing an appropriate and sustainable exchange rate policy framework, addresses issues that are fundamental to the introduction of the policy itself. This paper discussed the challenges of exchange rate volatility management …

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The Achievement Of Convergence In The Nigeria Foreign Exchange Market, O. O. Akanji Sep 2006

The Achievement Of Convergence In The Nigeria Foreign Exchange Market, O. O. Akanji

Bullion

The fact that Naira is floating is not a panacea for effective monetary policy management learning from the Argentina experience. Also with volatile capital flows, there are associated over - and undershooting of exchange rates that the economy would encounter. This paper discuss the achievement of convergence in the Nigerian foreign exchange market and monetary policy, the liberalization of the foreign exchange market and the process of foreign exchange convergence. It was observed that there were supply shortage and so the supply side of resource allocation was deployed. It was also observed that the harmony between the money market and …

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Effective Reserve Management In Nigeria: Issues, Challenges And Prospects., M. Nda Sep 2006

Effective Reserve Management In Nigeria: Issues, Challenges And Prospects., M. Nda

Bullion

Effective management of foreign exchange reserves is one of the major macroeconomic objectives of countries like Nigeria. This is against the background of rapid rise and accumulated challenges currently facing many emerging economies especially oil producing countries. In Nigeria, the reserves has risen from USD4.99 billion in May 1999 to USD38.07 billion as at July 31, 2006 (see table 1). The paper examines the key issues, challenges and prospects of effective management of external reserves in Nigeria and how the Central Bank of Nigeria has fared in coping with these challenges. The recent accumulation of foreign reserves is not peculiar …

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Promoting The Use Of Non-Cash Payment Alternatives In Nigeria., Aigboje Aig-Imoukhuede Sep 2006

Promoting The Use Of Non-Cash Payment Alternatives In Nigeria., Aigboje Aig-Imoukhuede

Bullion

The payments and settlement system represents the plat-form upon which financial resources is exchanged for goods and services. This paper discussed the different alternatives of non-cash payment methods as well as the advantages, modes of payments and challenges. The study concluded that, there is need not only to further the laudable reforms of the Federal Government of Nigeria, but also to ensure that business and non-business financial transactions are accessible and convenient for the average Nigerian. These reforms in the payment system can only fast track the integration of Nigeria into the international financial system with attendant benefits for the …

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The Legal Framework For Currency Management In Nigeria., Anthony Olatujoye Sep 2006

The Legal Framework For Currency Management In Nigeria., Anthony Olatujoye

Bullion

This paper reviews the adequacy of the existing legal framework for Currency Management in Nigeria. The paper is structured into three parts. Part I is an introduction to the paper. The legal provisions governing currency management in Nigeria and some of the legal challenges for the CBN are highlighted and examined in part II. Part III concludes the paper: that a major legal challenge facing the CBN is the absence of specific provisions of the law criminalizing such acts as tampering, deliberate mutilation, spraying and marching of currency.

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Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga Sep 2006

Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga

Economic and Financial Review

The paper examines empirically the relationship between economic growth and human capital development using Nigeria data. Microeconomics variables such as Growth of real gross domestic products (RGDPG), capital expenditure (CE) on education. recurrent expenditure on education (RE), real gross capital formation (RGCF) was used to proxy physical formation, enrolment into primary (PRYE), post-primary (PPE) and tertiary (TERE) educational institutional were used to proxy human capital development. It found that investment in human capital, through the availability of infrastructure requirements in the education sector accelerates economics growth.

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Risk-Based Capital Standard For Banks: A Critique, N. Arua Sep 2006

Risk-Based Capital Standard For Banks: A Critique, N. Arua

Economic and Financial Review

This paper presents a critique of the form of the risk- based capital standard known as Basel I & II. It examines the likely implication of the Based II capital accord for the Nigerian banking system and advises that the CBN should consider carefully the cost of implication of the new Accord before developing a timetable for its implementation.

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Towards Developing A Vibrant Bonds Market In Nigeria: A Review, Salam N. Gbadebo Sep 2006

Towards Developing A Vibrant Bonds Market In Nigeria: A Review, Salam N. Gbadebo

Economic and Financial Review

The paper highlights two major challenges in bond market which reflects in Nigeria. The author suggests methods and proposal that will enhance a better performance derivatives in long time. The article seek to established the narrative on two argument that, bond finance is less expansionary than money finance and that the expansion is sometime undesirable. While the Microeconomics argument posited that bonds are issued for different reasons. the findings revealed that corporate borrowers use debt market to obtain working capital and new equipment.

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The Contributory Pension Scheme: Instrument And Legal Frameworks, M. K. Ahmad Jun 2006

The Contributory Pension Scheme: Instrument And Legal Frameworks, M. K. Ahmad

Bullion

This paper examines the Pension Reform Act 2004 (the Act) of Nigeria which brought into existence a Defined Contribution system that was fully funded, privately managed and based on individual accounts for both the public and private sector employees. The Act also established the National Pension Commission as the sole regulator and supervisor on all pension matters in the country. The rest of the paper is arranged as follows: in Section 2, a review was made of the literature on the Nigerian pension systems while institutional and Legal Frameworks were discussed in Section 3 and Section 4 concludes the paper.

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Investments And Risk Management Under The New Pension Scheme, Atedo A. N. Peterside Jun 2006

Investments And Risk Management Under The New Pension Scheme, Atedo A. N. Peterside

Bullion

The Pension Reform Act 2004 ("the Act"), a compul sory contributory pension scheme ("the scheme ' or CPS") has been established for all the categories of workers in the Federal public service, Federal Capital Territory , and in the private sector ( 'applicable sectors'). This paper attempt to discuss and examine the issues of investment and risk management that are essential to the success of the new Scheme, and highlight some of the benefits and limitations of the contributory pension scheme and its investment and risk management framework. The study concluded that, the new CPS, it is also pertinent to …

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Contributory Pension Scheme: The Case Of Brazil., Mbatomon R. Ako Jun 2006

Contributory Pension Scheme: The Case Of Brazil., Mbatomon R. Ako

Bullion

The reform of the pension industry in Nigeria was necessitated by many problems confronting both the public and private sectors pension schemes. The public sector operated largely the Defined Benefit - Pay As You Go (PAYG) scheme, which depended on budgetary provisions from various tiers of governments for funding. This paper discuss the conceptual issues of Contributory pension scheme in Brazil, the structure of the pension system and the features of the pension scheme as well as some other pension reforms in Brazil. The study concluded that. the pension systems were introduced into the country by the colonial administrators. The …

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Financial Sector Outcomes In Nigeria: A Quantitative Evaluation., Abeng M. Okoi Jun 2006

Financial Sector Outcomes In Nigeria: A Quantitative Evaluation., Abeng M. Okoi

Bullion

Prior to the adoption of the economic reforms measures of the 1980's, most African economies were predominantly characterised by extensive public ownership, management and control of productive and social infrastructures and institutions. This paper discuss the trend of investments and pension schemes with its risks and challenges in Nigeria. The study however confirmed the non applicability of the financial reform theory hypothesized by McKinnon and Shaw in Nigeria 'This Paper quantitatively examine the outcomes of financial sector reforms in Nigeria with a view to validating the applicability of the Mckinnon Shaw hypothesis of financial liberalization. The impact of reforms on …

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Empirical Analysis Of Cost And Returns To Commercial Table Egg Production In Lagos State., G. O. Evbuomwan Jun 2006

Empirical Analysis Of Cost And Returns To Commercial Table Egg Production In Lagos State., G. O. Evbuomwan

Economic and Financial Review

The paper seek to establish that commercial table egg production in Lagos State is profitable. This was based on the fact that there was an increase in the per capita income of the populace and also increase in the awareness of the health implication of intake of protein from eggs.

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Investments And Risk Management Under The New Pension Scheme., Luka A. Dalang Jun 2006

Investments And Risk Management Under The New Pension Scheme., Luka A. Dalang

Bullion

Pension today, has become a topical issue. one that has engaged the commitment of government, attention of employers and workers not only in Nigeria but also in many developing and emerging economies of Africa, Asia and Latin America This paper discuss the trend of investments and pension schemes with its risks and challenges in Nigeria. The study however confirmed the non applicability of the financial reform theory hypothesized by McKinnon and Shaw in Nigeria.' . The National pension Commission guidelines as mentioned earlier, are designed to ensure transparency, integrity and objectivity in the vestment process. and to ensure that the …

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Foreign Direct Investment And Technology Transfer To Nigerian Manufacturing Firms: Evidence From Empirical Data., Nasiru Musa Yauri Jun 2006

Foreign Direct Investment And Technology Transfer To Nigerian Manufacturing Firms: Evidence From Empirical Data., Nasiru Musa Yauri

Economic and Financial Review

The paper investigates the vertical effects of FDI on Nigeria manufacturing firms. Specifically, the paper asks, do Nigerian manufacturing firms benefits from FDI? As an investigation into the vertical effects of FDI , the paper attempts to establish whether manufacturing firms in Nigeria that receives FDI benefit from technology flows which comes along with foreign capital. The paper employs data from the World Bank Nigerian manufacturing survey, 2001.

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Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng Jun 2006

Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng

Economic and Financial Review

The paper is focused on the determinants of workers remittances using Turkey as a case study.

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Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue Jun 2006

Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue

Economic and Financial Review

The paper seeks to develop a remittance model that would indicate if immigrant remittances were a source of capital flows for development.

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Imperative Of National Savings: A Case For Adoption Of Appropriate Benchmark Price For Crude Oil., Moses F. Otu Mar 2006

Imperative Of National Savings: A Case For Adoption Of Appropriate Benchmark Price For Crude Oil., Moses F. Otu

Bullion

Budgeting involves the design of plans that aligns expected financial resources and expenditure to accomplish specific national goals and objectives. It is in this regard that this paper provides a simple framework for deriving an acceptable bench-mark price for crude oil for budgeting purposes. This is aimed at enabling the elimination of subjectivity in budgeting process and promote understanding between all the stakeholders in order to fast track the process of passage of the appropriation bill. Following a brief introduction, the paper examines the need for national saving fund and constitutional provisions for national savings. Section three focuses on the …

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Is The Nigerian Curricula In Economics Relevant For The Nigerian Economy Of The 21st Century., J. A. Achilike Mar 2006

Is The Nigerian Curricula In Economics Relevant For The Nigerian Economy Of The 21st Century., J. A. Achilike

Bullion

The loopholes in Nigeria's educational system have created a death of capacity in the Nigerian economy. No nation can develop without qualitative education. The paper examines the relevance of the economics curricula in Nigeria's tertiary institutions in meeting the challenges of the 21st century. It highlights its problems and examines the efforts of National University Commission and Ministry of Education in meeting the challenges of economics education in Nigeria. Finally the study concludes that, the Nigerian Economics curricular is critically under developed and does not follow government economic policies, but if all the recommendations are adopted the Nigerian economics curricula …

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Perspectives On The European Monetary Union: Lessons For The Economic Community Of West African States (Ecowas), J. E. Sagbamah L. Mar 2006

Perspectives On The European Monetary Union: Lessons For The Economic Community Of West African States (Ecowas), J. E. Sagbamah L.

Economic and Financial Review

The attainment of the European Monetary Union (EMU) under the auspices of the European Union (EU) was a product of effective planning and sequencing of programmes. The establishment of political institutions such as the European Council, Assembly, Court of Justice and, particularly, the European Commission provided the general framework and direction for the achievement of the EMU. In addition, specialized institutions such as the Sectoral Commissions, European Monetary Institute (which was later transformed into the European Central Bank) and the European System of Central Banks provided technical support for driving the EMU project. These institutions nurtured and fostered the political, …

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Life Insurance As A Source Of Long-Term Savings In Nigeria: Regulator's Perspective., O. E. Chukwulozie Mar 2006

Life Insurance As A Source Of Long-Term Savings In Nigeria: Regulator's Perspective., O. E. Chukwulozie

Bullion

Life insurance is an insurance contract in which the insured transfers, and the insurer assumes, the risk of death for a specified period of time. As in other insurance businesses, the insured transfers the risk to the insurer, and receives a life insurance policy, upon payment of a premium. The paper outlines the intrinsic benefits of life insurance, assess its performance in the Nigeria situation and examine what a regulator could do to facilitate its development. The paper reveals that, It was observed that there is an ongoing recapitalisation and consolidation programme which would boost the paid up share capital …

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Nigeria's External Trade And The New Perspectives For Its Enhancement, G. K. Sanni Mar 2006

Nigeria's External Trade And The New Perspectives For Its Enhancement, G. K. Sanni

Bullion

Trade has been universally acknowledged as indispensable tool to rapid economic growth and development. This is because increased participation in trade is associated with higher inflows of foreign investment and new technologies which can be adopted to transform the economy through appropriate policy. This paper analyses Nigeria's foreign trade with a view to examining the composition and direction as well as impediments to the growth of trade, and proffer suggestions for enhancing Nigeria's foreign trade. The paper is divided into five sections. Following the introduction are the theoretical issues. This is followed by the analysis in section three of the …

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Tax Assignment And Revenue Sharing In Nigeria: Challenges And Options, S. C. Rapu Mar 2006

Tax Assignment And Revenue Sharing In Nigeria: Challenges And Options, S. C. Rapu

Economic and Financial Review

This paper build on the history as well as the current legal framework of tax assignment and revenue-sharing in Nigeria to identify the challenges while also drawing from the theoretical framework for policy options which will provide for a stable federal system in Nigeria. The paper recommended among others the strengthening of states internal revenue bases, adjustments on the vertical and horizontal revenue-sharing formula, effective compliance with the allocation of the mandatory 10% of states internally generated revenue. The paper concludes that changes to the existing tax assignment and revenue-sharing arrangements will go a long way in protecting our nascent …

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Broad Money Demand And Financial Liberalization In South Africa: A Review, Abdurrahman Abdullahi Mar 2006

Broad Money Demand And Financial Liberalization In South Africa: A Review, Abdurrahman Abdullahi

Economic and Financial Review

The paper, therefore, tried to study the stability of money demand using different estimation procedures under a financially liberalized economy (South Africa). This was done by developing a fixed-coefficient error-correction model for broad money demand function for the period 1971 to 2000, after which quarterly forecasts were generated for 2001 and 2002, using a varying-parameter regression model.

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Matters Arising From The Introduction Of The Defined Contributory Pension Scheme In Nigeria: A Policy Proposal, J.S. Akuns Mar 2006

Matters Arising From The Introduction Of The Defined Contributory Pension Scheme In Nigeria: A Policy Proposal, J.S. Akuns

Economic and Financial Review

In line with global trends in pension reforms as well as stark domestic realities, Nigeria introduced the operation of the DC pension scheme on 1st July 2004. In this regard, the main thrust of the paper is to examine some salient features of the defined contributory pension scheme and their welfare implications to retirees. An overview of the defined contributory pension scheme is carried out in section 2, while country-specific experiences with the defined contributory pension scheme is reviewed in section 3. Issues of public policy on the defined contributory pension scheme are explored in section 4. Finally, section 5 …

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Opening Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, O. A. Demuren Dec 2005

Opening Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, O. A. Demuren

Economic and Financial Review

This is the opening address by Mrs. O. A. Demuren at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.

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The Role Of The Mortgage Industry In Economic Development, Kayode Omotosho Dec 2005

The Role Of The Mortgage Industry In Economic Development, Kayode Omotosho

Economic and Financial Review

This article examines the role of the mortgage industry in economic development with a view to identifying its problems, challenges and opportunities. Possible areas of assistance from other stakeholders are also highlighted. The article discussed the evolution of mortgage banking and financing in Nigeria and the demand/market for mortgage sector finance services in Nigeria. It estimates that Nigeria needed N50 billion annually to provide an estimate of 8 million housing units in 2000. The article then examines the Federal Mortgage Bank of Nigeria (FMBN) in the last decade (1990 - 2000) and National Housing Fund (NHF) as well as the …

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Understanding The Technical Operation Of Mortgage Market: Financing Options And Valuation Techniques, Femi Ekundayo Dec 2005

Understanding The Technical Operation Of Mortgage Market: Financing Options And Valuation Techniques, Femi Ekundayo

Economic and Financial Review

This paper aims to discuss the. evolution of mortgage banking in Nigeria, development and practice of mortgage financing and valuation techniques using Primary Mortgage Institutions (PMI) as a thrust. It is also to elicit contributions from others and subject the final product to further research for development of the scheme in Nigeria.

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The National Housing Fund Scheme: The Journey So Far, O. A. Adeniji Dec 2005

The National Housing Fund Scheme: The Journey So Far, O. A. Adeniji

Economic and Financial Review

This article reviews the National Housing Fund and highlight the successes and constraints. The rest of the article is divided into five sections. Section 2 reviews the National Housing Fund Scheme. The lessons of experience from other countries are contained in section 3, while section 4 highlights the achievements of the Federal Mortgage Bank of Nigeria (FMBN) since the inception of the reforms. The problems militating against the effective implementation of the NHF is the focus of section 5. Section 6 concludes the article.

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Welcome Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Y. Nuhu Dec 2005

Welcome Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Y. Nuhu

Economic and Financial Review

This is the welcome address by Alhaji Y. Nuhu at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.

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