Open Access. Powered by Scholars. Published by Universities.®

Finance Commons™

Open Access. Powered by Scholars. Published by Universities.®

Central Bank of Nigeria

Discipline
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 181 - 210 of 339

Full-Text Articles in Finance

The Challenges Of Sustainability Of The Current Exchange Rate Regime In Nigeria., H. T. Sanni Sep 2006

The Challenges Of Sustainability Of The Current Exchange Rate Regime In Nigeria., H. T. Sanni

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. In the quest for corrective measures to minimize distortions in the foreign exchange market, the monetary authority initiates the current exchange rate reform. the objective of this paper is to discuss the challenges of sustaining the recently introduced exchange rate regime in …


Exchange Rate Stability And Poverty Reduction In Nigeria, Greg Nzekwu Sep 2006

Exchange Rate Stability And Poverty Reduction In Nigeria, Greg Nzekwu

Bullion

The paper discusses the role of macroeconomic policy in achieving social as well as macroeconomic objectives in attaining poverty reduction in Nigeria. Nigeria's economy is growing at an impressive rate compared to the historical. This reflects in part increased investor confidence due t o the improvement in macroeconomic management and positive dividends of the new found economic direction and general political stability. However, the renewed optimism is unlikely to be sustained if appreciable progress is not made to advance growth, general macroeconomic stability and poverty reduction. The reveals that, In order for growth to be poverty reducing, the link between …


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 …


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 …


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 …


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 …


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.


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 …


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 …


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 …


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.


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 …


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.


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.


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.


Special Remarks At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects., O. J. Nnanna Dec 2005

Special Remarks At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects., O. J. Nnanna

Economic and Financial Review

This is the special remarks by Dr. O. J. Nnanna at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.


Keynote Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Obadiah Mailafia Dec 2005

Keynote Address At The In-House Seminar On The Mortgage Industry In Nigeria: Issues, Challenges And Prospects, Obadiah Mailafia

Economic and Financial Review

This is the keynote address by Dr. Obadiah. Mailafia at the in-house seminar on "the mortgage industry in Nigeria: issues, challenges and prospects", for CBN Executive Staff, Bauchi, October 24 - 28, 2005.


Legal And Regulatory Framework For The Mortgage Industry In Nigeria, J. A. Akinwale Dec 2005

Legal And Regulatory Framework For The Mortgage Industry In Nigeria, J. A. Akinwale

Economic and Financial Review

This article examines the legal and regulatory framework for the mortgage industry in Nigeria. The outline of major issues on legal and regulatory framework for mortgage institutions discussed in the article include: Functions of PMI’s vis-a-vis their enabling laws and role in the overall financial system; licensing; assets and liability powers; capital requirements; supervision; disclosure and verification of information; staffing, and developmental issues.


An X-Ray Of The Mortgage Industry In Nigeria, Fortune Ebie Dec 2005

An X-Ray Of The Mortgage Industry In Nigeria, Fortune Ebie

Economic and Financial Review

This article provides a detailed examination of the Mortgage Industry in Nigeria with a view to identifying the issues, challenges and prospects. The rest of the paper is divided into five sections. The overview of housing industry in Nigeria is the focus of section 2 while section 3 reviews the structure of the mortgage industry. Section 4 focuses on the regulatory/institutional framework for mortgage financing in Nigeria. The x-ray of mortgage industry is undertaken in section 5 while section 6 concludes the paper.


Mortgage Institutions And Financing In Nigeria: Performance, Constraints And Prospects, S. A. Oni Dec 2005

Mortgage Institutions And Financing In Nigeria: Performance, Constraints And Prospects, S. A. Oni

Economic and Financial Review

The article, mortgage institutions and financing in nigeria: performance, constraints and prospects, reviews the performance of the mortgage institutions in Nigeria. The rest of the paper is divided into four parts. Following this introduction is part 2 that focuses on the evolution of mortgage financing in Nigeria. Part 3 reviews the performance of mortgage institutions, while part 4 highlights the constraints in the sub-sector and the prospects of mortgage financing in Nigeria. Part 5 concludes the paper.


The Land Tenure System: Which Land Title For The Nigerian Mortgage Industry?, J. A. Akinwale Dec 2005

The Land Tenure System: Which Land Title For The Nigerian Mortgage Industry?, J. A. Akinwale

Economic and Financial Review

The article examines among issues raised in the 2001 Report of the Presidential Committee on Urban Development and Housing, which made recommendations for the National Housing Policy. ln order to appreciate the kind of land tenure system that is operated in the country, the objective of this paper is to highlight the process and procedure individuals or corporate bodies will have to go through in order to secure finance for building or buying a house. The paper is divided into three sections. Following this introduction, is section two which discusses mortgage loan perfection, while section three appraises the land tenure …


Banking Sector Reforms And Bank Consolidation: Conceptual Framework., Moses Ajayi Jun 2005

Banking Sector Reforms And Bank Consolidation: Conceptual Framework., Moses Ajayi

Bullion

Reforms are predicated upon the need for reorientation and repositioning of an existing status quo in order to attain an effective and efficient state The objective of this paper is, therefore, to present the conceptual framework for banking sector reforms. particularly, consolidation. The paper is divided into five sections. following the introduction, section ll conceptualizes the facets of reforms and conceptual issues on consolidation in the banking sector, while section ll discusses the critical success issues in banking sector consolidation. section IV presents concepts associated with country elements of banking elements of banking reforms, while section five concludes the paper. …


Banking Sector Reforms And Bank Consolidation: The Malaysian Experience., Okorie A. Uchendu Jun 2005

Banking Sector Reforms And Bank Consolidation: The Malaysian Experience., Okorie A. Uchendu

Bullion

This paper examines banking sector reform with particular reference to the Malaysian banking sector. The Malaysian banking sector which resulted from the Asian financial crises of the 1990s is the subject of the study. The paper is divided into four sections: following the introduction, section II covers conceptual issues in banking sector reform and bank consolidation. The Malaysian experience in banking sector reforms and bank consolidation is discussed in section III, while lessons for Nigeria and concluding remarks are presented in section IV. The paper highlights the response of the Malaysian authorities to the Asian financial crisis and identified the …


Banking Sector Reforms And Bank Consolidation: The Turkey Experience., U. M. Ogubunka Jun 2005

Banking Sector Reforms And Bank Consolidation: The Turkey Experience., U. M. Ogubunka

Bullion

Countries reform their banking sectors for a number of reasons, including structural, capitalization and ownership issues. Consequently, the objectives of the reforms can hardly be the same in all countries. This paper is presented on the basis that an overview of the banking reform in the lessons Nigeria could learn from it. The paper is structured into seven sections. the next section following this introduction identifies some of the key features of Turkish banking system pre-reform era of 2001, section three deals on the drivers of banking reform in the country. section four reviews some of the actions taken in …


Non-Performing Assets Of The Banking System In Nigeria: Complementary Measures., Moses F. Otu Jun 2005

Non-Performing Assets Of The Banking System In Nigeria: Complementary Measures., Moses F. Otu

Bullion

The article examines the structure of the non-performing assets of the banking system in Nigeria with the view of ascertaining loan concentration. further attempt would be made to examine the causes of deteriorating assets and explore the complementary options for managing the non-performing loans. Following an introduction as section one, the rest of the paper is thus: section two focuses on definitional and conceptual issues, section three covers the literature review while section four addresses the methodology and trend of non- performing assets and the sectoral contributions. Section five, presents the complementary options and the concluding remarks. The study concluded …


Challenges Of Banking Sector Reforms And Bank Consolidation In Nigeria., Odufu I. Imala Jun 2005

Challenges Of Banking Sector Reforms And Bank Consolidation In Nigeria., Odufu I. Imala

Bullion

This paper intended to look at the number of reforms that have since been created, several of them was intended to enhance the risk management capability of both the regulated institutions and the regulators. the current reforms are part of the broader and on-going national economic reforms. This paper x-rays the challenges envisaged in their implementation. Following the introduction, section 2 examines the role of the banking system in the economy, while section 3 provides the rationale for the reforms in Nigeria. Section 4, the reform agenda is discussed with a brief on the journey so far. Section 5 identifies …


Overview Of Electronic Payment Systems In Nigeria: Strategic And Technical Issues., Margaret J. Hilili Jun 2005

Overview Of Electronic Payment Systems In Nigeria: Strategic And Technical Issues., Margaret J. Hilili

Bullion

The objective of this paper is to provide an overview of electronic payment system as it currently exists in Nigeria, discuss the strategic and technical issues as well as the monetary policy implications of the system, with focus on the needs of consumers. The paper is structured into five sections. Following the introduction, section II discusses the motivation for electronic payment system. Section III presents an overview and development of electronic payment system in Nigeria. Section IV analyzes the various strategic and technical issues in electronic payment systems as well as the monetary policy implications, while section V highlights the …


Banking System Consolidation In Nigeria And Some Regional Experiences: Challenges And Prospects., Y A. Bello Jun 2005

Banking System Consolidation In Nigeria And Some Regional Experiences: Challenges And Prospects., Y A. Bello

Bullion

This paper examines banking sector development in Nigeria from the Structural Adjustment era of the mid-1980s and the current reforms taking place in the financial service industry in terms of consolidation. In addition, the paper tries assess the banking system consolidation in Nigeria and the challenges and prospects expected. The paper is structured into six parts. following this introduction\, the part two discusses an overview of the banking system in Nigeria. part three reviews some regional experiences, while part four evaluates banking system consolidation in Nigeria and part five examines the challenges and prospects. while part six, summarizes and concludes …


Public Policy And Industrialization In Nigeria., A. J. Adam Jun 2005

Public Policy And Industrialization In Nigeria., A. J. Adam

Bullion

This paper is concerned with evaluation of government policies on industrial development in Nigeria with specific reference to the effects of public policy on Nigeria's industrialization. Following an introduction is section two which examines conceptual and theoretical issues. Section three is the review of public policy in Nigeria. Section four focuses on policy evaluation and comparative analysis of experience of other countries. Section five provides the concluding remarks and recommendations. The paper observes that government has a role to play in the industrialisation process by providing infrastructures; help overcome market failures; assist develop money and capital markets; make economic information, …


Matthew Higgins And Thomas Klitgaard's Reserve Accumulation: Implications For Global Capital Flows And Financial Market; Current Issues In Economics And Finance: Federal Reserve Bank Of New York, September/October 2004: A Review., P. I. Nwaoba Mar 2005

Matthew Higgins And Thomas Klitgaard's Reserve Accumulation: Implications For Global Capital Flows And Financial Market; Current Issues In Economics And Finance: Federal Reserve Bank Of New York, September/October 2004: A Review., P. I. Nwaoba

Economic and Financial Review

The paper examines the accumulation of foreign currency reserve assets and explores its implications for monetary policy, global financial markets and the U.S. economy. It reveals an upward surge in Central Bank holdings of foreign currency assets or foreign exchange reserves in recent years, particularly in foreign government securities. The paper notes that most of the recent reserve purchases were made by Japan and other emerging Asia countries. Similarly, the scale of the purchases made their central banks key players in setting the pattern of capital flows across countries. The authors state that holdings of foreign assets have doubled since …