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.
Keywords
For the full publication, please contact the author directly at: ansaruddeenyh@yahoo.com
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Institutions
- AVE-MARIA UNIVERSITY, PIYANKO, NASARAWA STATE 1
- Babcock University, Ilishan-Remo, Ogun State 7
- Bamidele Olumilua University of Edu. Science and Tech. Ikere Ekiti, Ekiti State 453
- Bauchi State College of Agriculture, Bauchi, Bauchi State 1
- Bauchi State University, Gadau, Bauchi State 16
- Bayelsa State Polytechnic, Aleibiri, Bayelsa State 13
- Bayero University, Kano, Kano State 585
- Benue State Polytechnic, Ugbokolo, Benue State 10
- Benue State University, Makurdi, Benue State 47
- Bingham University, Karu, Nasarawa State 3