Economic and Financial Review


Central Bank of Nigeria


Exchange Control, Foreign Currencies, Adjustment, Balance of Payment, Nigeria


The objective of this paper is to evaluate the usefulness of exchange control in correcting Nigeria's Balance of Payments deficits during the period 1967-1981. The paper consists of four parts. In part one, a general review of the legal framework and exchange control practices in the period is undertaken. Part two offers an appraisal of exchange control as a policy for balance of payments adjustment in Nigeria. In part three exchange control is compared with other balance of payments policies to determine whether or not the country can dispense with the control regulations . The summary and main conclusions of the paper are contained in part four.

Author Bio

The author O. K. Anifowose is an Assistant Director of Research, Balance of Payments Office, Central Bank of Nigeria.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Anifowose, O. K. (1983) The Relevance of Exchange Control in Nigeria's Balance of Payments Adjustment Process. CBN Economic and Financial Review. 21(3), 34-45.



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