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Pension Fund, Financial Development And Output Growth In Nigeria, Iwegbu Onyebuchi Mar 2020

Pension Fund, Financial Development And Output Growth In Nigeria, Iwegbu Onyebuchi

Bullion

This study examines the indirect effect of pension fund on economic growth in Nigeria through the financial system. Using Autoregressive Distributive Lag (ARDL) model, the study found out that pension fund contribution is effective in stimulating growth through investment in portfolios that yield short term returns; this implies that pension fund contribution cannot on its own without a credible financial system impact on economic growth. The policy implication of this study is for Pension Fund Administrators (PFAs) to invest in portfolios with short-term returns; thus, a large chunk of funds invested in federal government securities should be unbundled to other …


Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria Jan 2014

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria

CBN Annual Report

Annual Report and Financial Statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2014. In general, 2014 has been a very eventful and challenging year for the Bank, the country, and the world at large. In the course of the year, the Bank underwent significant changes in its governance composition. In 2014, the global economy witnessed considerable vulnerabilities characterized by fragile growth and weak economic outlook. Global growth recovery was modest and continued to be threatened by strong downside risks, as a result of sharp drop in commodity prices, escalating geo-political tensions, and heightening threats …


Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria Jan 2010

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria

CBN Annual Report

2010 annual report reviews the operations of the Central Bank of Nigeria (CBN) and appraises the macroeconomic policies in 2010. the report is structured into two parts. Part 1 reviews the corporate operations of the bank, while the part 2 evaluates the performance of the economy against the challenges in both the thrust of monetary policy and other financial measures was to improve liquidity and enhance the efficiency and stability of the financial system without compromising the primary goal of monetary and price stability.


Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria Dec 1997

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria

CBN Annual Report

In 1997, Nigeria experienced its third consecutive year of macroeconomic stability, resulting in modest improvement in domestic output growth and a persistently low inflation rate. The balance of payments position showed a modest surplus, and significant success was achieved in reducing domestic liquidity growth. Domestic output expanded further due to increased agricultural output and crude petroleum production, while the inflation rate declined further. Domestic output, measured by the Gross Domestic Product (GDP), increased by 3.8% in 1997, as against the average growth rate of 2.3% in the preceding three years. The fight against inflation was highly successful, reaching a single …


Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria Dec 1997

Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from documents like balance sheets and financial statements, which are designed for legal and administrative purposes rather than economic analysis. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. However, due to problems with imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation, major revisions were made. The Computer Services Department generates summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. …


Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria Jun 1997

Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from financial statements and balance sheets, which are designed to meet legal and administrative requirements rather than economic analysis needs. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department to compile the CBN analytical accounts. However, major revisions were made due to imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation on foreign assets. The Computer Services Department uses high-level computing to generate both summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation …


Central Bank Of Nigeria Statistical Bulletin, December 1996, Central Bank Of Nigeria Dec 1996

Central Bank Of Nigeria Statistical Bulletin, December 1996, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from documents like balance sheets and financial statements to meet legal and administrative requirements, rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, while the Financial Statistics Office compiles the analytical CBN balance sheet. Monetary authorities and deposit money banks consolidate accounts to produce monetary survey accounts. Monthly interest rate returns compute weighted average lending and deposit interest rates, and deposit rates are computed for various maturities. Clearing house statistics show the number and value of cheques cleared within the commercial banking system, reflecting the …


Central Bank Of Nigeria Statistical Bulletin, June 1996, Central Bank Of Nigeria Jun 1996

Central Bank Of Nigeria Statistical Bulletin, June 1996, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from documents like balance sheets and financial statements, which are primarily designed for legal and administrative purposes. The Finance and Accounts Department uses Bloomberg sources to prepare CBN accounting balance sheet data for the Research Department to compile analytical accounts. The Financial Statistics Office compiles the analytical CBN balance sheet without reclassifications or rearrangements of available accounting data. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Monthly interest rate returns are used to compute weighted average lending and deposit interest rates. Deposit rates are computed for various maturities. Clearing …


Central Bank Of Nigeria Statistical Bulletin, December 1995, Central Bank Of Nigeria Dec 1995

Central Bank Of Nigeria Statistical Bulletin, December 1995, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from balance sheets and financial statements, which are primarily designed for legal and administrative purposes rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, using the monthly return of Assets and Liabilities and the summary trial balance as benchmarks. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Deposit money banks are highly prone to volatility and fragility, making them subject to regulations and …


Central Bank Of Nigeria Statistical Bulletin, June 1995, Central Bank Of Nigeria Jun 1995

Central Bank Of Nigeria Statistical Bulletin, June 1995, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from balance sheets and financial statistics, which are designed for various logistical and administrative requirements rather than economic analysis. Final data compilation involves aggregating the financial system's accounts to discern macroeconomic tendencies. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, using the monthly return of Assets and Liabilities (BANKOS 324) as a benchmark and the summary trial balance (BANKOS 302) as a source for detailed information. The Financial Statistics Office consolidates the accounts of monetary authorities and deposit money banks, producing monetary survey accounts. Deposit money banks are …


Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1994, Central Bank Of Nigeria Jan 1994

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1994, Central Bank Of Nigeria

CBN Annual Report

In 1994, Nigeria faced economic challenges such as declining GDP growth, inflation, and a weakened external sector due to expansionary fiscal and monetary policies, political unrest, and labor issues. Despite this, the global economy saw stronger recovery in industrialized countries and developing regions like Asia and Latin America. The Nigerian economy struggled with slow growth, manufacturing decline, rising inflation, large budget deficit, and weakened external sector performance. Efforts to stabilize the exchange rate were hindered by differences between official and unofficial market rates. Internationally, there were improvements in the world economy with higher growth rates in developed and developing countries. …


Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1983, Central Bank Of Nigeria Dec 1983

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1983, Central Bank Of Nigeria

CBN Annual Report

In 1983, Nigeria's economy experienced severe stagflation, with GDP falling by 4.4%, more than the 3.4% decline recorded in 1982. Domestic inflation was 23.2%, more than three times the 7.7% recorded in 1982. The external sector also suffered from the general malaise, with the recorded value of external trade falling from N21.3 billion in 1982 to N17.3 billion in 1983. Agricultural production fell sharply due to severe droughts, bush fires, and diseases/pest infestations in livestock and crops. The volume of primary commercial energy consumed increased, with the index going up by 4.4% in 1983. Inflationary pressures intensified due to the …


An Address By Alhaji Abdulkadir Ahmed, Governor, Central Bank Of Nigeria, At The 12th Annual General Meeting Of Manufacturers Association Of Nigeria On Wednesday, 9th March, 1983, Abdulkadir Ahmed Mar 1983

An Address By Alhaji Abdulkadir Ahmed, Governor, Central Bank Of Nigeria, At The 12th Annual General Meeting Of Manufacturers Association Of Nigeria On Wednesday, 9th March, 1983, Abdulkadir Ahmed

Economic and Financial Review

This is an address by Alhaji Abdulkadir Ahmed, Governor, Central Bank of Nigeria, at the 12th Annual General Meeting of Manufacturers Association of Nigeria, on the theme " The Problem of Over-dependence of the Nigerian Economy on Imports".