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Bullion

Keywords

External reserves, Management, Reserves management, Foreign exchange reserves, Nigeria

Abstract

The objective of this paper is to appraise developments in external reserves management and utilization in Nigeria, with o view to identifying major challenges and proffering solutions. The paper is divided into six sections. Following this introductory section, section two reviews some of the major conceptual and analytical issues on external reserves management and utilization, while section three discusses Nigeria's external reserves management process. Section four appraises developments in external reserves management and utilization, as well as examines the impact of external reserves on the four sectors of Nigerian economy. Section five highlights major challenges in external reserves management and utilization in Nigeria, while section six concludes the paper and provides some policy recommendations.

Author Bio

These authors are staff of Monetary Policy Department and Reserves Management Department respectively from the Central Bank of Nigeria.

Publication Title

CBN Bullion.

Issue

2 - 1

Volume

37 - 38

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