Central Bank of Nigeria, Nigerian economy, Nigerian Banks.


This paper focus on the role of the Central Bank of Nigeria and its contributions in the face of the prevailing unstable macro-economic environment. The paper further provide a brief background on the general objectives of a central bank, especially from the international perspective. The paper projects that year 2000 will see the Central Bank of Nigeria becoming smaller both structurally and functionally. Shedding of some of its developmental activities which can effectively be taken over by other agencies with focus on its stabilization functions which can sustain price stability and restore full confidence to the financial sector. It further suggests that autonomy would enable the Bank become a more effective, efficient and responsive institution, gaining greater confidence of the general public.

Author Bio

The author is the Governor of the Central Bank of Nigeria.

Publication Title

CBN Bullion


No. 4


Volume 18

Included in

Economics Commons



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