CHAPTER
ONE
mso-bidi-font-family:"Bookman Old Style"" lang="EN-GB">1.1 INTRODUCTION
The objectives
of establishing Central Bank of Nigeria were to serve as banker to the banking
systems, to perform supervisory role over the commercial banks and issue
currency thus requiting the supply of money in the country. It also acts as
financial adviser to the government on monetary policies and implements the
policy on behalf of the government; it involves issuing legal tender currency,
maintaining the value of domestic currency enhancing mobilization of fund.
The Central Bank
of Nigeria is government bank, established to keep a country’s financial system
under control and this supervision.
The Central
Bank of Nigeria is expected particularly in promoting economic growth by
fostering the development of money market and capital market, develop banking
habits and sound financial system. In order to facilitate economic development,
CBN tends to engage in activities, which extend beyond its traditional
functions. In this regard, it played a unique role in the development of Nigeria
economy. Particularly in promoting agricultural and industrial development in
Nigeria.
The Central Bank
of Nigeria was established to act as the organ of government that should
undertake the major financial operation of the government and by its conduct
influence the behaviour of financial institutions so as to support the economic
policy of the government. The CBN carries out this responsibility on behalf of
the federal government through a process outlined in the Central bank of
Nigeria decree 24, 1991 and the banks and other financial institution in
formulating monetary policy.
In fact, the
roles played by CBN in stabilizing Nigeria economy is enormous one. Since its
inception in 1958, it had engaged in one stabilizing one role or the other.
TABLE
OF CONTENT
PAGE
Title page i
Certification ii
Dedication iii
Acknowledgement iv-v
Table of content vi-vii
CHAPTER
ONE
1.1 Introduction 1-2
1.2 Statement of the problem 2
1.3 Purpose of the study 2-3
1.4 Research hypothesis 3-4
1.5 significance of the study 4
1.6 Scope and limitation of the study 5
1.7 Definition of terms 5-8
CHAPTER
TWO
2.1 Review of related literature 9
2.2 Introduction 9-10
2.3 Definition 10-14
2.4 Central Bank of Nigeria and its objectives 14-17
2.5 Functions of central Bank
of Nigeria 17-25
