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The Nigerian financial markets: growth, performance, appraisal and prospects
No full textThe purpose of the paper is to evaluate the growth and performance of the financial markets in Nigeda in relation to the achievement of basic objectives. The Central Bank has nurtured both money and capital markets, while various government policy measures were instrumental to their promotion. The main finding was that while the markets have provided facilities for the retention of funds in the economy, they still lack in depth and breadth. The money market has been very active in the mobilization of funds for the Federal Government while the on- going Structural Adjustment Programme, adopted in 1986, has engendered keen competition among the financial institutions for customers\u27 deposits and bankable projects
Theory and practice in banking supervision: some reflections by Edward P.M. Gardener, Institute of European Finance, University College of North Wales, Research papers in Banking and Finance, No. RP86/2, June, 1986.
No full textThis is a review of the paper, \u27Theory and Practice in Banking Supervision\u27 written by Edward P.M. Gardener of the Institute of European Finance. University College of North Wales, Bangor and published in Research Papers in Banking and Finance. The author examines the broad role of theory and practice in banking supervision by looking at the economic nature of regulation and the justification for regulation in the banking system
The challenges of strategic planning in the banking industry in the 1990s.
No full textDevelopment within the overall economy inevitably have direct impacts on the environment and regulatory framework within which banks operate. Similarly, the operational efficiency of the banks or other wise in bringing to fruition the social and economic yearnings of the state has dire impact on the society. it is the realisation of this linkage that has led some commentators to assert that the banking sector is both the hand-maid and mid-wife of the economy. what is true also is that finance is the key to investment and investment leads to growth. Furthermore, the paper discusses what is strategic planning?; Change and survival; Changes in the banking scene: an overview and the challenges and threats of the 1990\u27s
The phenomenal growth of the Nigerian banking industry in the 1980\u27s and the need for strategic planning in the 1990\u27s.
No full textThe growth of the banking industry in Nigeria especially in the last half of the 1980\u27s had been of considerable interest to both citizens of this country and foreigner alike. Hence, the leap in the number of licensed banks had been described as anything from remarkable to phenomenal. There has also been diverse opinion about the effect of the increasing number of banks in the system. while some regard it as a healthy development, others see it as very unsettling
Optimal financial and foreign exchange liberalization of less developed economies: Basant K. Kapur in quarterly journal of economics, Vol. XCVIII, February, 1983.
No full textThe paper focused on a highly-inflationary less-developed economy that is in dire need of an optimal mix of domestic financial instruments and appropriate levels of external sector variables to achieve balanced growth. Essentially, the analysis in the paper dwelt extensively on optimal combination of policy instruments to achieve both internal and external balance while ensuring non-inflationary growth in the context of financial and foreign exchange liberalisatio
The better life programme and the rural economy of Nigeria
No full textThis study has attempted to assess the impact of the Better-Life-Programme (BLP) on the rural economy. The findings showed that despite the short period of its existence, the Programme has attracted notable attention and patronage by all and sundry
Developments in Industrial Sector in the Fourth Quarter of 1990
No full textThe industrial sector recorded modest improvement in the fourth quarter of 1990. At 262.8 (1972=100), the index of industrial production showed increases of 7.8 and 4.2 per cent over the levels in the third quarter of 1990 and the fourth quarter of 1989, respectively. The improvement was attributed largely to illcreases of 7.2 and 3.6 per cent in mining and manufacturing output, respectively. Electricity consumption index, on the other hand, fel] below the level in the corresponding quarter of the previous year by 1.7 per cent
Statiscal Tables.
No full textThe statistical tables show a representation of (A) Central Bank of Nigeria Statement of Assets and Liabilities. (B) Central Bank Monthly Rediscount(Gross).(C) Commercial Banks Statement of Assets and Liabilities. (D) Analysis of Commercial Banks\u27 Loans and Advances. (E) Maturity Structure of Commercial Banks\u27 Loans and Advances. (F) Selected Predominant Interest Rates. (G) Ratio of Loans and Advances to Deposits. (H) Net External Assets of Commercial Banks.(I) Merchant Banks\u27 Statement of Assets and Liabilities. (J) Analysis of Merchant Banks\u27 Loans and Advances. (K) Maturity Structure of Merchant Banks\u27 Loans and Advances. (L) Liquidity Ratios of Merchant Banks
Africa\u27s Adjustment and Growth in the 1980s: the World Bank and the UNDP; Charles Humphreys and Williams Jaeger & C0., 31pp., March 1989
No full textThe paper, \u27Africa\u27s Adjustment and Growth in the 1980s was written by a team led by Charles Humphreys and William Jaeger of the World Bank. They reviewed on Sub-Saharan Africa\u27s economic experience in the 1980s from a new perspective as against that which was generally perceived as one of crisis and decline caused largely by hostile external factors. The paper was divided into six parts. Part one is an overview of the causes that led to the region\u27s current problems. Sections 2, 3 and 4 analytically dis,:uss the developments in trade and commodity prices, the international community\u27s response with more aid and debt relief packages. Section 5 assesses the progress made so far in reforming domestic policy, while section 6 examines the impact of policy reforms
entral Bank of Nigeria Annual Report and Statement of Accounts for the Year ended 31st December 1989
No full textThe Nigerian economy showed improvement in 1989 compared to 1988. Economic Growth: Gross Domestic Product (GDP) increased by 4.0%, driven by growth in agriculture and industry. The overall balance of payments moved from a deficit to a surplus, largely due to a significant increase in crude oil exports. The unemployment rate declined slightly, with more jobs created through government programs. Nigeria\u27s external assets increased significantly, reflecting a deliberate policy to build official reserves. Inflation: Despite some improvement, inflationary pressures remained high, with domestic prices rising by 40.9%. Stagnant Manufacturing: Manufacturing production grew at a slow pace due to high production costs and weak demand. Oil exports accounted for a vast majority (94.9%) of total exports, highlighting the vulnerability to fluctuations in oil prices. Limited Non-Oil Exports: Non-oil exports grew modestly but remained a small portion of overall exports.
Breakdown of Nigeria\u27s external management efforts in 1989 indicate that: Debt Management: Progress made in refinancing short-term trade arrears through agreements with the Paris and London Clubs; Debt Conversion Program attracted foreign investment and reduced external debt by $306.7 million. World Economic Activity: Global economic slowdown led to decreased growth rates, trade, and higher inflation; Efforts to strengthen the international monetary and financial system intensified. International Commodity Markets: Generally depressed due to excess supply and commodity agreement issues; International cocoa and coffee agreements faced difficulties. International Trade: Total world trade increased but at a slower pace than in 1988; Instability in foreign exchange markets impacted trade expansion. Lending by International Financial Institutions: Increased lending by the IMF to developing countries; World Bank Group\u27s global lending commitments increased; Loan commitments by the African Development Bank Group to Nigeria increased. West African Clearing House: Transactions through the clearing house declined for the fifth consecutive year. Overall 1989 marked a year of improvement for the Nigerian economy, with efforts to address adjustment program challenges showing some success. However, significant challenges like inflation and dependence on oil remained to be tackled. Nigeria made some progress in managing its external debt in 1989. However, the global economic slowdown and depressed commodity markets presented challenges