ABSTRACT
Monetary policy aims at controlling the supply of money in the economy so as to affect the aggregate level of spending. The Central Bank of Nigeria as the custodian of the country’s monetary reserve, like other Central Bank of the worlds, possesses an armory of tools or techniques to control and regulate money and credit. Hence, the role that CBN plays in the implementation of monetary policy is critically examined and this valid exposition formed the basis of recommendation of this study. Necessary information regarding the study was collected through the use of questionnaire from selected managers in the CBN. The descriptive research methodology was employed and the percentage method was used to analyze the data collected. The study was organized motive chapters starting with the introduction of the study to the conclusion and recommendations.
TABLE OF CONTENTS
Page
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of contents vii
CHAPTER ONE: INTRODUCTION
1.1 Introduction 1
1.2 Problems of CBN 4
1.3 Statement of Problem 5
1.4 Research Questions 5
1.5 Research Hypothesis 5
1.6 Significance of the Study 6
1.7 Scope and Limitations of the Study 7
1.9 Definitions of Terms 7
CHAPTER TWO: LITERATURE REVIEW
2. 1 Theoretical Background 8
2.2 Objectives of Monetary Policy 10
2.3 Monetary Policy in Nigeria 15
2.4 Monetary Policy after 1986 16
2.5 Administration of Monetary Policy in Nigeria 20
2.6 Techniques and Instruments of Monetary Policy 21
2.7 Effectiveness of Monetary Policy 27
2.8 Limitations and Challenges of Monetary Policy in Nigeria 31
2.9 Monetary Policy Indicators 33
2.10 Monetary Policy Lags 35
2.11 The Autonomy of CBN 36
2.12 The Transmission Mechanism of Monetary Policy in Nigeria 37
2.13 Monetary Policy Measures 41
2.14 An Appraisal of Monetary Policy and Operations of CBN 42
2.15 Challenges and Prospects of Monetary Policy 44
Reference 46
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research Design 47
3.2 Population, Sample and Sampling Techniques 47
3.3 Research instrument 48
3.4 Administration of the Instrument 48
3.5 Analysis of Data 49
3.6 Definition of Terms 49
CHAPTER FOUR: DATA ANALYSIS AND INTERPRETATION
4.1 Introduction 50
4.2 Analysis of questionnaire 54
4.3 Hypothesis testing 60
4.4 Reliability Test 66
CHAPTER FIVE: SUMMARY, CONCLUSION, RECOMMENDATIONS
AND SUGGESTIONS FOR FURTHER RESEARCH
5.1 Summary 67
5.2 Conclusion 68
5.3 Recommendation 68
5.4 Suggestions for Further Research 69
Bibliography 70
