THE IMPACT OF CENTRAL BANK OF NIGERIA POLICY REFORM ON BANK PERFORMANCE STABILITY


THE IMPACT OF CENTRAL BANK OF NIGERIA POLICY REFORM ON BANK PERFORMANCE STABILITY (A CASE STUDY OF CENTRAL BANK, UYO BRANCH)

ABSTRACT

Generally, the focus of this study is the impact of central bank of Nigeria policy reformed on bank performance stability. In carrying out this research, information’s were gathering from Textbooks, journals, newspaper and CBN bullions. Also oral interview were undertake to supplement the other source. Available data have showed that the CBN policy reformed on bank performance have been relatively minimal. Hence, this study is to access the performance of the CBN policy reform. The reform program has fundamentally changed the nature of competition in the banking industry in Nigeria, through the new minimum capital required; the number of banks in the country has been successfully reduced from eighty nine (89) to twenty five (25). However, the CBNs policy needs to be reformed to suit the current economic situation at any given period so as to help to achieve the macro economic stability. The populations on the study comprise staff currently in service in central bank of Nigeria Uyo branch which is thirty. The major objective of the banking system is to ensure banking stability and facilitate rapid economic development.                   

TABLE OF CONTENT

Cover page

Title page

Certification

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

Introduction

Purpose of the Study

Statement of the Problem

The Objective of the Study

Research Hypothesis/Research Question

Significant of the Study

Limitation of the Study

Delimitation /Scope of the Study

Definition of Some Terms and Acronym

CHAPTER TWO

Introduction

Concept of Central Bank of Nigeria

The Role of Central Bank in an Economy

Concept of Monetary Policy

Monetary Policies in Nigeria an Appraisal

Monetary Policy Formulations

Conceptual Issue in Monetary and Banking

Policy Management

Objective of Monetary Policy

Central Bank of Nigeria Major

Monetary Policy Instruments

Monetary Policy Integration into the Federal Government Budget

Policy Implementation

Some Leading Issues in Monetary

Banking Policy in Nigeria

Different phase of policy in banking sector

Summary of related literature

CHAPTER THREE

Introduction

Design of the Study

Area of the Study

Population of the Study

Sampling Size/Sampling Techniques

Sources of Data Collection

Method of Data Collection

Questionnaire Design and Administration

Method of Data Analysis

CHAPTER FOUR

4.0     Introduction

4.1     Presentation of the Data

4.2     Research Question Analysis

4.3     Test of Hypothesis

4.4     Decision of Findings

CHAPTER FIVE

5.0     Introduction

5.1     Summary

5.2     Recommendation

5.3     Conclusion

Reference

Questionnaire                 

CHAPTER ONE

1.0     INTRODUCTION

One of the principal functions of the central bank of Nigeria (CBN) is to formulate and execute monetary policy to promote monetary stability and sound financials system in Nigeria. The central bank of Nigeria carries out this responsibility on behalf of the federal government of Nigeria through a process out lined in the central bank of Nigeria decree 24: 1991 and the banks and other financial institution decree 25, 1991.

In formulating and executing monetary policy the government of the central bank is require making proposal to the president of the federal republic of Nigeria who has the power to accept or armed such proposals. There after the central bank of Nigeria is obliged to implement the monetary policy approved by the president (Ekezie 2002).

Managing an economic entails articulating a well meaning strategies and devising various policies and measures that ensure efficient utilization of a nation resource wit a view to promote economic growth, employment and maintained of domestic and eternal sector stability.

Macroeconomic management encompasses a number of components, which include fiscal, monetary, banking, external and real sector policies. Consequently policy effectiveness depends critically on the consistency and complementally of these sectoral components consistent with this interrelatedness. Monetary and banking policy, measures are designed to provide an environment which is conductive to the achievement of both macroeconomic stability growth and development (central bank of Nigeria bulletin, 2003 vol.27).

The objective of this project therefore is to appraise the roles of central bank of Nigeria in the management of monetary and banking policies in pursuit of the objective of providing a conductive environment for both macroeconomic stability and growth.

1.1    PURPOSE OF THE STUDY

The purpose of the study is to appraise the roles of central bank of Nigeria in the management of monetary and banking policies in pursuit of the aims of providing a conductive environment for both macroeconomic stability and growth.

1.2    STATEMENT OF THE PROBLEM

The problem is how maintaining monetary stability and sound financial structure. In most market economic, the aim of promoting sound financial structure apart from control of monetary, stock are to prevent systematic financial instability and equity of financial intermediation. Failures in the financial institution lead to loss of confidence in the sector.

Therefore, the central bank of Nigeria is expected to provide appropriate bank performance stability to regulate and ensure confidence in the financial sector.

1.3     THE OBJECTIVE OF THE STUDY

The objectives of this study are as follows:

1.    To examine the role of Central Bank of Nigeria (CBN) in the management of monetary and banking policies.

2.    To examine the impact of Central Bank of Nigeria policy reform in the central bank of Nigeria Uyo branch.

3.    To evaluate the extent to which this policy reform have the help in bank performance stability.

4.    To examine the importance of reforming the central bank policy.

1.4    RESEARCH HYPOTHESIS/RESEARCH QUESTION

This study is designed to test the following hypothesis:

Ho:     There is no significant relationship between Central Bank of Nigeria financial management procedures and the performance of financial system.

Hi: There is significant relationship between Central Bank of Nigeria financial management procedure and the performance of financial system.

Ho:     Central Bank of Nigeria (CBN) does not play a significant role in the management of monetary andbanking policies reforms.

Hi:     Central Bank of Nigeria (CBN) plays significant roles in the management of monetary and banking policies reforms.

In this study, answer would be given to the following research question like:

1.    How effective is the management of monetary and banking policies by the central banking of Nigeria.

2.    How do the activities of the central banking of Nigeria reform policy influence the banking stability in Nigeria?

3.    To what extent do the central bank of Nigeria financial management procedure helps to develop the financial sector?

4.    To what extent do the central banks of Nigeria financial management help to stability the economy?

5.    What is the financial role the central bank of Nigeria in the Economy?

1.5     SIGNIFICANCE OF THE STUDY

To student the result of the study will serves as a reference point for future researchers. To government and employer, it is expected that the and of this study, there shall be updating in the knowledge within the framework of central bank of Nigeria policy reform on bank and how effective the central bank of Nigeria monetary policy is in managing our economy.

The finding and recommendation will be of great interest to interested parties that desire ways of enhancing efficiency in the financial system.

Report of the study also helps the researcher to fulfill the requirement for the award of national diploma in accounting.

1.6     LIMITATION OF THE STUDY

The problem, the researcher encountered was that some officers were either too busy for interviews or cleverly avoided certain question for the fear that the information given might put their jobs in jeopardy. Those who responded to question tends to the make their answers to reflect what ought to be rather than what is this undoubtedly affected to the quality and accuracy of information collected during the study. As large population of staff were shy to respond, thus it was difficult to really get their opinion as regarding manpower development and it seems they do not really appreciate the importance of development. These difficulties not withstanding, the researchers made concept effort to ensure that the product was comprehensively carried out to meet the desire needs.

1.7     DELIMITATION/SCOPE OF THE STUDY

This research work aim at highlighting the impact of central bank of monetary policy on the monetary policy on the management of Nigeria economy from the period of 2005 - 2010.

1.8     DEFINITION OF SOME TERMS AND ACRONYM

According to Ekezie (1992), he defined central bank functionally as a national (financial) institution that traditionally possess the monopoly of the issuance of legal tender, the is money in a country; is entrusted with the custody the cash reserves of the banking, system (that is function as a bankers banks) and acts as lender of last resort.

Monetary Policy: as put forward by lay, 1999 are those measures taken by the monetary authorities (Central Bank) to control the cost quantity and direction of credit to achieve national objectives.

CBN: Central Bank of Nigeria

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THE IMPACT OF CENTRAL BANK OF NIGERIA POLICY REFORM ON BANK PERFORMANCE STABILITY



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