THE ROLE OF CENTRAL BANK IN THE DEVELOPMENT OF NIGERIA ECONOMY (A CASE STUDY OF CENTRAL BANK OF NIGERIA)

ABSTRACT

This project work is to study in depth the role of central bank in the development of Nigeria economy and its dividing into five chapters as follow. Chapter one, introduction to the study, purpose of the study, research methodology,  traces the background of central bank of Nigeria purpose, scope, aims and objective and significance of the study. Chapter two deals with review of related literature, here documented information about the subject mater are deal with example are the stages in the role of central bank problems and solutions prospects etc. chapter three is concerned with top management, middle management in the bank. And also the primary instrument to collect information and the pilot study which will use in this research methodology so as to ascertain its validity and reliability. And the historical background of the organization with the questionnaire. Chapter four deals with findings, exclusively with data presentation and analysis with testing hypothesis. Chapter five deal with summary, recommendation and conclusion. 

CHAPTER ONE

1.0       INTRODUCTION

A country economic development depends on its industrialization process; this can be done by giving priority to certain areas of the economy such as Banking, Agriculture Housing and Industry because these have contributed immensely to because to the development of any nation.

This led to the establishment of Central Bank of Nigeria by the government which specified responsibility is to provide the basic ingredient for rapid economy development.

Central Bank of Nigeria exists to speed up the country economics development control. The task of economic development and economic growth shall be paramount as such we need to harness all available resources and means towards the economic development and the growth.

One of the major objectives of the past and present Nigeria government is therefore for a country to have stable economy and attain economic growth. One of these vehicles that can be used to achieve these is the role played by central bank on ecomony of the nation.

In Nigeria the central bank undertakes functions on both types of institution especially the banks through the application of various and regulatory measure. The subject of this study dealing as it does on those relationships is there tropical and will address a numbers of many issues on monetary, banking policy and economic development. The analysis of the study some findings and recommendation were given to the banks and financial institution with moral support.

The researcher concluded by saying that the Central Bank of Nigeria played important role in the economy development of Nigeria.

1.1       STATEMENT OF PROBLEM                  

The researcher wish to find out the problems encounter by the Centre Bank of Nigeria; in the economy development of Nigeria as following:

1. The challenges facing the Central Bank of Nigeria are not just the conventional responsibilities of controlling the nation’s total money supply or implementing the country’s monetary policy and interest rates.      
2. By regulating and supervising the banking industry as a whole the Central Bank of Nigeria is also involved in ensuring effective corporate governance, fostering systemic stability that should maintain public trust and overall confidence in the banking system.
3. Poor exporting primary good
4. Poor agricultural productivity in Nigeria

All the above problems are the reason why the Central Bank of Nigeria fails to achieve its aim and objective

1.2       STATEMENT OF HYPOTHESIS

The Hypothesis is:

Ho: The role played by Central Bank of Nigeria in the development of the Nigeria economy Nigeria does not reduce unemployment in Nigeria  

Hi: The role played by Central Bank of Nigeria in the development of the Nigeria economy reduces unemployment in Nigeria.  

1.3       OBJECTIVE OF THE STUDY

Objective of this study includes:

1. To critically analyze the Central Bank of Nigeria as regards the contribution on various ways the economic development of Nigeria.
2. To study the measure taken by the Central Bank of Nigeria to control foreign exchange
3. To critically identify the role of Central Bank of Nigeria in internal trade
4. To examine how Central Bank of Nigeria serves as an apex and how it control their bank through it numerous monetary instruments impact of the Central Bank of Nigeria roles in Nigeria economic development.
5. To critically identify the role of Central Bank of Nigeria in international trade
6. To examine how Central Bank of Nigeria serve as an apex and how it control their through it numerous monetary instrument                  

1.4       SIGNIFICANCE OF THE STUDY    

The gains to be derived from this study cannot be over emphasized about the performances or the other financial for the development of the country. The operational problem of central bank of Nigeria senitized people the misconception help by the bank and other government can be exposed by the study.

The research would also be a source of information for bank investor and educationist.

1.5        SCOPE OF THE STUDY

The project shall actually concern the entire role of the central bank of Nigeria in the nation development. It take a broad view of the various aspect of the role and function of Central Bank of Nigeria, it also look at its position in banking, industry and various roles of the central bank of Nigeria as the primary function,  function banking habits and its system with its role in foreign trade insurance.

Finally, the study will consider the importance of the current measure of the Central Bank of Nigeria toward the cutting down the rate of the inflation in Nigeria.