An Assessment Of Monetary Policy As Regulatory Tool For Economic Development In Nigeria

📄 Project Abstract

The responsibility of maintaining a sound financial structure in the economy involves on the Central Bank. The Central Bank occupies a unique position in the financial system of the country. It has revolved a number of enduring relationship with commercial banks and the banking sub sector comprising mainly merchant and development banks and the non-bank sector which is made up of a wide range of organizations operation as regulators, facilitators and investors such as the Security and Exchange Commission (SEC), the stock exchange, stock brokers, insurance companies, National Provident funds etc. After the formation of monetary policy and the acceptance of this by the government through its budgetary pronouncement, the Central Bank organizes the execution of the policies. The CBN gives the directive to financial institutions which may take the form of monetary policy circular issued by the governor of the Central Bank as the beginning of every financial year and subsequently supplemente...