IMPLICATION OF FOREIGN EXCHANGE MANAGEMENT AND GLOBAL ECONOMY DOWNTURN ON NIGERIAN ECONOMY (A CASE STUDY OF ECO BANK PLC ILORIN BRANCH)


IMPLICATION OF FOREIGN EXCHANGE MANAGEMENT AND GLOBAL ECONOMY DOWNTURN ON NIGERIAN ECONOMY (A CASE STUDY OF ECO BANK PLC ILORIN BRANCH)  

TABLE OF CONTENT

TITLE PAGE

CERTIFICATION

DEDICATION

ACKNOWLEDGEMENT

TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

1.0Introduction and Background of the Study

1.1Statement of the Problem

1.2Aims and Objectives of the Study

1.3 Significance of the Study

1.4 Scope and Limitation of the Study

1.5 Definition of Key Terms

1.6 Plan of the Study

CHAPTER TWO: LITERATURE REVIEW

2.0Literature Review

2.1Theoretical Review

2.2Conceptual Review

2.3Empirical Review

2.4Foreign Exchange in Context

2.5The Rule of Central Bank of Nigeria (C.B.N) in Foreign Exchange Management

2.6Policy Tool for Foreign Exchange Management

2.7Global Financial Crisis and its Implication for the Nigeria’s

         REFERENCE

CHAPTER THREE: RESEARCH METHODOLOGY

3.0Introduction

3.1Population of the Study

3.2Data Collection

3.3 Data type/Source of Data

3.4  Sample and Sampling Techniques

3.5   Limitation of the Methodology

CHAPTER FOUR: DATA ANALYSIS AND PRESENTATION

4.0 Introduction

4.1 Analysis of Questionnaire Administration

4.2Interpretation of Result

CHAPTER FIVE: SUMMARY AND RECOMMENDATIONS

5.0 Summary

5.1Recommendations

5.2Conclusion

         BIBLIOGRAPHY

QUESTIONNAIRE

CHAPTER ONE

1.0 INTRODUCTION AND BACKGROUND OF 

THE STUDY

The need for foreign currency policy management arises only within the frame-work of countries engaged in international trade in contract to a closed economy, whose scope does not transcend its intra country trade transactions.

Foreign exchange is the means or ways of effecting payment for international transaction it can be acquired by a country through the export of goods and services, direct investment inflow drawn down on external loans aid or grants and it can also be expanded on settling international obligations. It is made up of convertible currencies that are generally accepted for the settlements of international trade and other external obligations. Such currencies include those of the group of seven (G7) industrialized countries made up of united state Dollar, British pound sterling, deutsche mark, Japanese yen, French, Italian and Canadian dollar.

Foreign exchange market is the medium of interaction between the sellers and buyers of foreign exchange in a bid to negotiate a mutually acceptable price for the settlement of international transactions. The objectives of the market include the provision of an avenue for the exchange of national currencies and the creation of an effective mechanism for the allocation of foreign exchange.

The foreign exchange market consist of the seller (supply) and buyer (demand) of foreign exchange. The major participant in foreign exchange market are the monetary authorities (Central Bank of Nigeria) authorized dealers (Bank) agents of the public sector, and the private sector as well as correspondent banks abroad. The supply of foreign exchange is derived from oil and non oil exports, capital by receipts include draw down on loans, expenditure of foreign tourist in Nigeria, repatriation of capital by Nigeria resident abroad as well as invisible receipt by the private sector. On the other hand the demand of foreign exchange consist of payments for important external debt service obligations personal home remittances (PHR) by foreign nations resident in the country, financial commitment of international organization and the country’s embassies abroad as well as other invisible out payment by the private sector.

1.1 STATEMENT OF THE PROBLEM

An important threat to effective foreign exchange policies and management in Nigeria, is the accumulation of foreign debt whose servicing have been conceiving a greater proportion of the dividing inflow at the detriment of developed programmes which require foreign for exclition.

In consisting in policy formulation and implementation is another major problem. Frequent changes minister/secretariat witnessed change in policies and his affect performance and result.

Lack of monetary and fiscal policy on the part of government from 1970 to date, Nigeria has witnessed grass mis-management of respondences and budget indiscipline. A situation where budget is surplus and ends up in billion of naira deficit.

Narrow export based and low elasticity of export goods protectionist policies of the industrialized nation against export goods and development of syntheties (fibers) seem to have jointly conspired to frustrate the efforts to increase earning from export.

1.2 AIMS AND OBJECTIVES OF THE STUDY

The primary objectives of this research is to analyze the source of the foreign exchange and prefer solution on how it can be managed effectively to achieve the set of goals.

To achieve the set of goals or objectives, the following objectives have been specified:

⦁ To review the existing literature, collect and collate information on sources of foreign exchange.

⦁ To identify the sources of foreign exchange

⦁ To identify the review loopholes and malpractice in foreign exchange management

⦁ To analyze the ways that foreign exchange gets to the ultimate users.

⦁ To determine the effects of foreign exchange mis-management

⦁ To recommend measure to take to improve the foreign exchange management.

1.3 SIGNIFICANCE OF THE STUDY

The worsening balance of payment(B O P )accumulated external debt continued commitment of greater parts of the declining exchange earning to debt servicing alongside domestic inflation and management of the country foreign exchange resources.

This, a research into this topic is a better understanding of the issues involve in forex policy and management and offer useful proposal for the benefit makers, scholars and individual or corporate in or using forex.

1.4 SCOPE AND LIMITATION OF THE STUDY

The study focused on the implication of foreign exchange management and global economic down turn on Nigeria economy. The problems encountered in the study were multidimensional in native 

Although through the help of some personnel, we were able to get most of the material needed for the project but some staff refused   to co-operate to give necessary assistance.

The rate of response from people outside the central bank especially the bureau the change and the black market used in this project was strictly negligible because of their unco-operative attitude and inability to understand the purpose of the project  by black market operators.

Some black market operators believe we were trying to gather information for the government on how to curb and refried the of them while staff of bureau change believed that we were being used by some people in the central  bank as a result of which they are not prepared to have any discussion with us.

1.5 DEFINITION OF KEY TERMS

⦁ Trade: the buying and selling of goods and service.

⦁ Stock Market: it is also called equity market which is a public market (a loose stock network of economic transaction not a physical facility for stock brokers and traders to trade stock and other securities.

⦁ Equities: Common and preferred stocks, which represent share in the ownership of a company.

⦁ Exchange Rate: The giving of money for its equivalent in another currency.

⦁ Bonds: promissory note issued by a corporation or government to its lenders usually with a specified amount of interest for a specified length of time.

⦁ Certificate : The physical document that shows ownership of a bonds stock or other security.

⦁ Fiscal Year: This is also the same as a budgeting year which is usually one year.

⦁ Recession: A temporary decline in the economic activity of a particular country

1.6 PLAN OF THE STUDY

For the understanding and easy presentation, this research work is divided in to five chapter.

Chapter one usually contain the introduction, the objective of the study, significance of the study  the plan of the study itself, and problem of the study used by the writers.

Chapter two treats literature review, theoretical review, conceptual review, empirical review, introduction to foreign exchange in context, role of C. B. N in foreign exchange management, policy tool for foreign exchange management and the down turn of global financial crisis on Nigeria economy.

Chapter three contains research methodology, introduction, population  of the study, data collection, sample and sampling techniques and limitation of the methodology.

Chapter four introduction, data analysis and interpretation of result.

Chapter five summary, conclusion, recommendation and reference.

.

IMPLICATION OF FOREIGN EXCHANGE MANAGEMENT AND GLOBAL ECONOMY DOWNTURN ON NIGERIAN ECONOMY (A CASE STUDY OF ECO BANK PLC ILORIN BRANCH)



TYPE IN YOUR TOPIC AND CLICK SEARCH.




TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.