Economic and Financial Review


Central Bank of Nigeria


Monetary Policies, Banking Policies, Nigeria, Third Republic


This paper received and appraised the conduct of monetary and banking policies in Nigeria in the recent past, and charts prognosis of future monetary policy directions, come the Third Republic. As a background information, the paper reviews the conceptual, analytical and institutional framework for the conduct of monetary and banking policies in general, noting the widespread consensus that efficient management of money stock and the related price variables are vital instruments for inducing investment and growth of any economy. An overview of recent monetary and banking policies in Nigeria acknowledged the innovative initiatives taken so far to reform the financial system and monetary management approach in general, but regrets the relative ineffectiveness as reflected by the outcome of intermediate policy targets.

Author Bio

V .A. Odozi is the Deputy Governor, Domestic Monetary & Banking Policy, Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review





Recommended Citation

Odozi, V. A. (1992). Current Monetary and Banking Policies in Nigeria and the Prospects in the Third Republic. CBN Economic and Financial Review. 30(3), 130-156.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.