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
- Federal College of Education (Tech), Gusau, (Affl To Abu Zaria), Zamfara State 1
- Federal College of Education, Abeokuta (Aff To University of Ibadan), Ogun State 2
- Federal College of Education, Eha-Amufu, Enugu State 1
- Federal College of Education, Kano (Affl To Ahmadu Bello University, Zaria) 1
- Federal College of Education, Kontagora, (Affl To Abu, Zaria), Niger State 2
- Federal College of Education, Okene, (Affl. To University of Ibadan), Kogi State 3
- Federal College of Education, Pankshin, (Affl To Uni of Jos), Plateau State 2
- Federal College of Education, Zaria, Kaduna State (affl To Abu, Zaria) 1
- Federal College of Wildlife Management, New Bussa, Niger State 1
- Federal Cooperative College, Ibadan P.m.b. 5033, Eleyele, Ibadan, Oyo State 3