The Role of Central Bank of Nigeria in Formulation and Implementation of Effective Monetary Policy in Nigeria
Student: Ansaruddin Hussain Yusif (Project, 2025)
Department of
Northwest University, Kano, Kano State
Abstract
The study was undertaken to find out the role of central bank of Nigeria in formulation andimplementation of effective monetary policy in Nigeria. The data collected for this study isannual time series data from 1983 to 2023 (i.e., 41 observations) which were sourced fromthe Central Bank of Nigeria (CBN) Statistical Bulletin (2024) and World DevelopmentIndicators (2024). In line with findings of the study, concludes that the role of central bank ofNigeria is statistically significant in the formulation and implementation of effectivemonetary policy in Nigeria by analyzing CBN monetary policy tools such as exchange rate,interest rate and money supply using the Ordinary Least Square (OLS) model. The studyreveals that the central bank plays a significant role in the effectiveness of monetary policy being implemented in Nigeria.
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For the full publication, please contact the author directly at: ansaruddeenyh@yahoo.com
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Institutions
- Isa Mustapha Agwai I Polytechnic, Lafia, Nasarawa State 2
- Jigawa State Polytechnic, Dutse, Jigawa State 4
- Joseph Sarwuan Tarka University, Makurdi, Benue State 17
- Kaduna Polytechnic (NCE), Kaduna, Kaduna State 2
- Kaduna Polytechnic, Kaduna 328
- Kaduna Polytechnic, Kaduna , Kaduna State (affl To Fed Univ of Tech, Minna) 6
- Kaduna State College of Education, Gidan-Waya (affliatted To Abu) 2
- Kaduna State University, Kaduna, Kaduna State 246
- Kano State Polytechnic, Kano, Kano State 196
- Kano University of Science and Technology, Wudil, Kano State 6