Assessing the Role of Central Bank of Nigeria in Monetary Control in the Nigerian Banking System (a Study of First City Monument Bank Plc, Eket)

Student: Catherine Malachy Sunday (Project, 2025)
Department of Accountancy
Heritage Polytechnic, Ikot Udota, Akwa Ibom State

Abstract

The Role of Central Bank of Nigeria in Monetary Control in the Nigerian Banking system cannot be over-emphasized. But for the roles to be effectively applied or carried out, it should be executed in line with the laid down rules of the Central Bank of Nigeria during its establishment. The purpose of this research work was to study and find out the extent to which the Central Bank of Nigeria control the activities of other banking industry in the economy; I also find out the basic roles of Central Bank of Nigeria in monetary policy and control in Nigeria. After all the necessary findings, it is discovered that Central Bank of Nigeria ole is not only monetary policy and control in banking sector, but also plays motherly role to other banking/financial sector and financial policy controller in the Nigerian economy. For this to be effectively and successfully carried out, an authentic questionnaires were advanced to First City Monument Bank Plc, Eket Branch, where the employees of the bank filled without bias and returned to the research their copies of questionnaires. The hypothesis was tested and the final result was gotten from the test.

Keywords
CENTRAL BANK OF NIGEIRA MONETARY CONTROL AND NIGERIAN BANKING SYSTEM
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