Finance Commons^™

Determination Of Interest Rate Saharan African Countries: A Analysis., A. O. Folawewo, E. A. Udeaja

Economic and Financial Review

A major indicator of banking sector efficiency is interest rate spreads (IRS), which have been found to be very high in African countries. This paper analysed the determinants of interest rate spreads in Sub-Saharan African (SSA) from a macro perspective, that is, using aggregate banking sector data, and focusing macroeconomic and market determinants. The study used ex-ante measure of spreads, that is, differences between interest rates on lending and deposit. Using annual data covering 33 countries, the result to obtained from the paper suggested that different market and macroeconomic policy variables played significant role in explaining variation in IRS in …

Monetary Policy Implementation And Financial Sector Developments In Nigeria: The Journey So Far., M. A. Ajayi

Economic and Financial Review

The paper examined the implementation of monetary policy in recent years following the successes recorded in the banking sector reforms and noted the achievement of most of the objectives of monetary policy. In addition, in terms of financial sector development, Nigeria has achieved greater institutional and regulatory capacity as well as products varieties that have improved development in the financial sector. The quantitative assessment of the financial sector indicates a healthy state of the banking industry.

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

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

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

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

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

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

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

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

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

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

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 …

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 …

How Might Financial Market Information Be Used For Supervisory Purposes? By J. Krainer & J.A.Lopez, Federal Reserve Bank Of San Francisco Economic Review 2003: A Review. ., P. N. Omanukwue

Economic and Financial Review

Banking services are extremely important, especially in a free market economy. However, in spite of banks catalytic role in the transmission mechanism of monetary policy, they are exposed to a lot of risks, such as liquidity, operational, market and credit risks, among others. To guard against such risks, most economies have created public safety nets as well as banking supervisory agencies and institutions of various forms to protect both the depositors and other banks/shareholders from systemic shocks that could destabilize the system. In the conduct of its supervisory functions, most central banks adopt an on-site and/or an off-site monitoring system, …

Determinants Of Commercial Bank Interest Rate Spread In A Liberalized Financial System: Empirical Evidence From Nigeria (1989-2000), C.I. Enendu

Economic and Financial Review

This paper provided empirical evidence on the determinants of interest rate spread in a liberalized financial system for the period 1989-2000, using selected banks in Nigeria. Ex-ante interest rate spread equations were estimated using bank balance sheet and income statement as well as macroeconomic data. The results showed that macroeconomic and monetary policy/financial regulation factors were more important determinants of commercial banks' interest spread than bank level factors, Inflation rate, GDP, .financial deepening, cash reserve requirement, risk premium, treasure bill rate, loan asset quality, liquidity risk and non interest expenses were the most important.factors that affected commercial banks' interest rate …

Foreign Private Investment In Nigeria 2001, Statistical Survey Office

Economic and Financial Review

The netflow of foreign investment into the Nigerian economy rose by 0.9

per cent from N3,347.0 million in 2000 to N3,376.4 million in 2001.

Companies of United Kingdom origin accounted/or the bulk of the flow in the

review period. The cumulative level of foreign direct investment in the country,

mainly in Mining and Quarrying as well as Manufacturing and Processing

sub-sectors was N160,882.2 million. The proportion of paid-up capital plus

reserves in total investment in the Manufacturing and processing sub-sectors

was 91 per cent in the review period. The value of total stock of fixed assets in

the review period …

On The Stability Of Money Multiplier Relations In Nigeria: An Alternative Testing Procedure, Sani L. Doguwa

Economic and Financial Review

The question of stability over time of the adjusted money multiplier relation is of crucial importance for adjusted base money to act as the main link to money supply. This paper tests the hypothesis of stability of money multiplier relations in Nigeria using the forward recursive cusum of squares that uses a confidence interval which is distributed as Pyke 's modified Kolmogrov-Smirnov statistic. The results of the stability tests applied to monthly data from January, 1991 to December, 1995 suggest that the functions underlying the adjusted money multipliers were not stable between March, I992 and December, I994. The two multiplier …

Developments In The Financial System During The First Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Money supply as measured by both Ml and M2 declined in the first quarter of 1987 due mainly to declines in net foreign assets and ••other'' assets net of the banking system. Banking system credit, on the other hand increased although at a slower pace than in the last quarter of 1986. While both the money and capital markets remained active during the quarter, the tempo of activities slowed down considerably from the December 1986level.

An Econometric Analysis Of The Determinants Of Investments By Insurance Companies In Nigeria, S. E. Omoruyi

Economic and Financial Review

The paper is divided into two parts. Part I discusses the concept of financial intermediation. Part II outlines the model of determinants of investments by the insurance industry and summarises the main findings and policy recommendations of the study.

Developments In The Financial System During The Third Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This article highlights the developments in the financial system of Nigeria during the third quarter of 1984. It covers the monetary and credit developments, commercial banking and merchant banking developments in the country during the period under review.

Foreign Exchange Flows Through The Central Bank During The Third Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This is a report of the flow of foreign exchange in and out during the third quarter of 1984. Foreign exchange transactions during the third quarter of 1984 resulted in a net outflow of N114 .0 million in contrast to the net inflows of N289.4 million and N11.9 million recorded during the preceding quarter and the corresponding period of 1983, respectively.

Foreign Exchange Flows Through The Central Bank During The Second Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

The paper discusses foreign exchange flows through the Central Bank of Nigeria during the second quarter of 1984.

Developments In The International ( London) Commodities' Market During The First Quarter,1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

A report on the developments in the International (London) commodities' market during the first quarter,1984. The notable commodities includes coffee, cotton, palm-kernel and rubber. A number of factors accounted for the general improvement in commodity prices. Firstly, there was a decline in the supply of most of the commodities. The second factor was the uncertainty regarding production prospects in the immediate future . Finally, there was a general increase in the demand for most of the commodities.

Foreign Exchange Flows Through The Central Bank During The Third And Fourth Quarter Of 1983, Central Bank Of Nigeria Cbn

Economic and Financial Review

N11.9 million and a net outflow of N3.7 million during the third and fourth quarters of 1983 respectively. These compared with the net outflows of 13.2 and N171.9 million recorded during the counterpart periods of the preceding year (See Table 1). In line with these developments, official holdings of external reserves increased by N11.9 million during the 3rd quarter, recording N802.2 million at the end of September, 1983. They decreased by N3.7 million during the 4th quarter to N798.5 million at the end of December 1983. (See Table 3) .

Developments In The Financial Sector During The Fourth Quarter Of 1983, Central Bank Of Nigeria Cbn

Economic and Financial Review

Money supply, narrowly defined , Ml, attained a seasonal peak of N 11,282.4 million at the end of the fourth quarter of 1983, thus showing an increase of N256.5 million or 2.3 per cent over the level in the preceding quarter, compared with the increase of N950. l million or 10.4 per cent in the corresponding period of 1982. Over the level a year earlier, the rise in this aggregate was Nl ,233.9 million or 12.3 per cent.

Comparative Analysis Of Commercial Banking Activities In The 19 States Of The Nigerian Federation 1977-1980, N. E. Ogbe

Economic and Financial Review

The paper is divided into three parts. Part I examines the inter-state distribution of bank facilities - branches, credit and deposits; analysis of intra-state sectoral credit distribution and loan maturity are discussed in part 2; while part 3 is the conclusion.

Statistical Section (December 1983), Central Bank Of Nigeria Cbn

Economic and Financial Review

This is a statistical representation of economic activities in Nigeria in 1983

The Relevance Of Exchange Control In Nigeria's Balance Of Payments Adjustment Process, O. K. Anifowose

Economic and Financial Review

The objective of this paper is to evaluate the usefulness of exchange control in correcting Nigeria's Balance of Payments deficits during the period 1967-1981. The paper consists of four parts. In part one, a general review of the legal framework and exchange control practices in the period is undertaken. Part two offers an appraisal of exchange control as a policy for balance of payments adjustment in Nigeria. In part three exchange control is compared with other balance of payments policies to determine whether or not the country can dispense with the control regulations . The summary and main conclusions of …

Foreign Private Investment In Nigeria 1979-1981, Central Bank Of Nigeria Cbn

Economic and Financial Review

This paper has analysed the results of the survey o f foreign private investment in Nigeria for the period 1979 to 1981. The results show that net inflow o f foreign private investment into Nigeria fell by 12.6 per cent from N331.8 million in 1978 to N289.9 million in 1979. but rose by 61.1 per cent to N467.0 million in 1980 and fell again by 70. 5 per cent to N137.8 million in 1981. The sharp fall in net inflow of foreign private investment in 1981 was due to an outflow of N447. I million in 1981 as against outflows …