THE ROLE OF CENTRAL BANK OF NIGERIA IN THE DEVELOPMENT OF NIGERIA FINANCIAL SYSTEM

TABLE OF CONTENTS

Title Page................................................................................................. i

Declaration. ii

Certification. iii

Dedication. iv

Acknowledgements. v

Table of Contents. viii

Abstractx

CHAPTER ONE. 1

1.0 Introduction. 1

1.1 General Overview.. 1

1.2 Research Problem.. 2

1.3 Justification of the Study. 3

1.4 Objectives of the Study. 3

1.5 Scope And Delimitation of the Study. 4

1.6 Research Hypothesis. 4

1.7 Significance of the Study. 5

1.8 Limitation of the Study. 6

1.9 Definition of Operational Terms. 6

CHAPTER TWO. 9

2.0 Literature Review.. 9

2.1 Historical Background of Central Bank of Nigeria. 9

2.2 The Organisational Structure of the Central Bank of Nigeria. 15

2.3 Financial Thinker Review Central Banking18

2.4 The Traditional Function of Central Bank of Nigeria. 20

2.5 The Modern Functions of Central Bank of Nigeria. 21

2.6 Central Bank of Nigeria Statutory and Power. 23

2.7 Management and Control of Government Policy and Laws. 26

2.8 Foreign Exchange and Interest Rate Management28

2.9 Clearing House. 30

2.10 Evolution of Nigeria Financial System.. 32

2.11 Structure of the Nigerian Financial System.. 37

2.12 The Importance of Financial System.. 39

2.13 Measurement of Non Compliance of Universal Banks on Basic Credit Ceiling 41

2.14 Central Bank Investment in Treasury Bills And Certificate. 42

2.15 Overview of the Banking Consolidation Programme and its Aftermath 46

CHAPTER THREE. 52

3.0 Research Methodology. 52

3.1 Introduction. 52

3.2 Research Design. 52

3.3 Sources and Method of Data. 52

3.4 Population and Sample Technique. 53

3.5 Problems Encountered and How Resolved. 53

3.6 Statistical Tools Used. 53

CHAPTER FOUR. 54

4.0 Data Presentation, Analysis and Interpretation. 54

4.1 Introduction. 54

4.2 Data Presentation. 54

4.3 Presentation of Secondary Data. 63

4.4 Test Hypothesis. 66

4.5 Interpretation of Data. 68

4.6 Conclusion on Hypothesis. 68

4.7 Findings. 69

CHAPTER FIVE. 70

5.0 Summary, Conclusion and Recommendation. 70

5.1 Summary. 70

5.2 Conclusion. 71

5.3 Recommendation. 73

5.4 Suggestion. 74

References. 75

ABSTRACT

This paper work aims at outline the roles of the Central Bank of Nigeria in the development of Nigeria Financial System, as well as historical background for setting up the Central Bank of Nigeria, and its major functions. The paper also aims at shedding light on the Nigeria financial system, its structure, evolution and importance in the economy. This paper work suggests ways which the Central Bank of Nigeria can monitor the affairs and operation of the Nigeria Financial system, especially the financial institutions and its roles on the positive development of economy. Also, the ways by which an efficient financial system could be supervised via the Central Bank of Nigeria.