Economic and Financial Review


P. A. Ogwuma


Central Bank of Nigeria


Financial services, Legal tender, Currency, External reserves, Monetary stability, Government.


The objective of this paper is to examine the various monetary and banking policy measures which the CBN had applied both in the past and now in carrying out its functions and the role banking legislation plays in this regard. To this end, the paper is organised in four parts. Part I examines the legal and macroeconomic environment in which the Bank discharges its responsibilities. Part II reviews the measures taken by the CBN over the years in performing its functions while Part llI identifies the problems which constrains CBN's performance, the external influences which cause or aggravate these problems and the role which banking legislation could play in resolving them. Part IV provides the summary and conclusion.

Author Bio

The author as the Central Governor, presented this paper at the Inaugural ceremony of the House Committee on Banking and Currency on the 10th at Nicon Noga Hotel Abuja.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Ogwuma, P. A. (1993).The role of The Central Bank of Nigeria in monetary and banking policy measures. Economic and Financial Review, 31(3), 151-157.

Included in

Economics Commons



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