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
- Covenant Polytechnic, Aba, Abia State 1
- Covenant University, Canaan Land, Ota, Ogun State 4
- Crawford University of Apostolic Faith Mission Faith City, Igbesa, Ogun State 2
- Crescent University, Abeokuta, Ogun State 1
- Cross Rivers University of Technology, Calabar, Cross Rivers State 142
- Delta State Polytechnic, Ogwashi-Uku, Delta State 11
- Delta State Polytechnic, Otefe, Delta State 12
- Delta State University, Abraka, Delta State 139
- Ebonyi State University, Abakaliki, Ebonyi State 17
- Edo University, Iyamho, Edo State 10