The role of the central Bank of Nigeria in monetary and banking policy measures.

Abstract

This paper has reviewed CBN's efforts within the broad context of economic management. To that end, the paper had reviewed the background, stance, objectives and problems of monetary policy measures before the SAP in 1986 and the need to change the stance of policies following the adoption of the SAP by the government. The efforts made by the CBN to align its policies were examined next, with particular reference to monetary, financial and external sector policies. Finally, it was noted that some constraints had continued to bedevil the conduct of monetary policy and undermine its effectiveness.