CBN Digital Commons (Central Bank of Nigeria)
Not a member yet
1580 research outputs found
Sort by
The economic effects of money laundering on the Nigerian economy: some emerging issues.
No full textAlthough the economic effects of money laundering on economic development are difficult to quantify, it is evident that such activity damages the financial institutions which are critical to economic growth. Besides, it reduces productivity in the economy\u27s real sector by diverting resources and encouraging crime and corruption, which slow economic growth. Furthermore, such activity can distort an economy\u27s external sector through international trade and capital flows to the detriment of long-term economic development. This paper attempts to explore the economic effects of this malaise on the Nigerian economy. It observes that if money laundering is not tamed, it has the potential of propagating banking system distress, capital flight and exchange rate misalignment. The paper therefore, calls for a technologically driven regulatory framework, reforms of the existing law of evidence to tackle electronic dimension of money laundering and domestic forfeiture laws, the hastening of e-banking and electronic payments system and, finally, a need for global cooperation in implementing money laundering laws and jurisdictional issues
The National Housing Fund Scheme: the journey so far
No full textThis 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
Banking sector reforms and bank consolidation: Conceptual framework.
No full textReforms 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. The paper observed that the fundamental objective of reforms is the repositioning of an existing status to attain an effective and efficient state consistent with best practices. Consequently, for banking industry reforms. intended to achieve the objectives of consolidation, competition and convergence, the nucleus remain that of firming up capitalization. Country elements reveal that various conceptualization of the reform processes are unique and proceed as the problems become evident
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. .
No full textBanking 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, utilizing information such as assets quality and earnings, deposit liabilities, bank rating models, and contingency frameworks to assess the soundness and stability of the banking system. However, it has become increasingly evident that a bank\u27s condition could deteriorate rapidly and where examination is rather infrequent, the banking supervision assessments could become outdated. This informed the work of Krainer and Lopez in considering the use of financial market information for supervisory purposes. The paper, therefore, attempts to ascertain (adopting univariate event studies and multivariate analysis), whether financial market claims, such as equity, bonds, debts, uninsured deposits, etc, accurately assesses banks conditions and how such information might be used for supervisory purposes. Broad conclusions therefrom were that implicit in the investment decisions of most financial investors were performance evaluation of the financial institutions. However, additional information as reflected in the financial market prices profers new and complementary approaches to supervisory functions of monetary authorities
Challenges of Banking Sector Reforms and Bank Consolidation in Nigeria.
No full textThis 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 challenges, while section 6 concludes the paper. The paper reveals that the experience from the developed economies has shown that the development of a sound financial system requires the collaborative efforts of the government, the monetary authorities, the operators in the industry and the general public. Macroeconomic stability is required for the financial system to evolve and play its expected roles
Understanding the technical operation of mortgage market: financing options and valuation techniques
No full textThis 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
Pipeline transportation of petroleum products in Nigeria: threats, challenges and prospects.
No full textPipeline transportation as a mode is crucial for the distribution of petroleum products in Nigeria. The mode has contributed immensely to the movement of crude oil and refined products across the country and for export. The contribution of this mode is, however, under threat from natural ruptures, vandalization, and sub-optimal usage of pipelines. The constraints of other modes in the haulage of refined products over long distances provide a great challenge and opportunity for the pipeline mode to explore. For the pipeline mode to take full advantage of these opportunities, the government must expand the pipeline network, maintain properly the existing network, increase surveillance on pipeline systems, and evolve policies that will increase private sector participation in the pipeline sub sector of the oil industry. This paper examines how above affects the pipeline transportation in Nigeria
Non-performing assets of the banking system in Nigeria: Complementary measures.
No full textThe 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 that,, an averaged 23 percent, implying that for every N100.0 credit extended, N23.0 is bad. It has also been established that there is loan concentration in the system, which means that if there is any adverse development in that particular sub-sector, there could be a systemic effect in which many banks would be affected. The 10 big banks were more efficient than the smaller banks in extension of credit facilities. The bane of the small banks could be due to lack of competitive edge and expertise in credit administration
Welcome address at the in-house seminar on the mortgage industry in Nigeria: issues, challenges and prospects
No full textThis 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
Determinants of non debt government expenditure in Nigeria: 1970-2003.
No full textThis paper is an empirical attempt to situate and examine the trend in the growth and structure of non-debt government expenditure in Nigeria. The objective is to elicit the determining factors driving non-debt expenditure growth profile, and by implication the growth of gross domestic product (GDP) in Nigeria. The study found a continuous downward movement, compared with allusions of increasing size of government expenditure as measured by the expenditure to GDP ratio. Econometric analysis indicated the existence of positive relationships and high sensitivity of total non debt expenditure to population growth, gross domestic product, total revenue and political activities, but an inverse relationship with inflation rate. The paper recommended the diversification of the revenue base of the economy, injection of capital investment, strengthening the tax mechanism as well as the deliberate formulation and implementation of policies that would engender expenditure on social and community services with a view to improving the living standards of the people and fostering growth and development in the process