Economic and Financial Review


Research Department, Central Bank of Nigeria.


Monetary Policy Committee (MPC), Financial sector development, Deposit Money Banks (DMBs), Banking sector reforms.


The paper examined the implementation of monetary policy in recent years following the successes recorded in the banking sector reforms and noted the achievement of most of the objectives of monetary policy. In addition, in terms of financial sector development, Nigeria has achieved greater institutional and regulatory capacity as well as products varieties that have improved development in the financial sector. The quantitative assessment of the financial sector indicates a healthy state of the banking industry.

Author Bio

Mr M. Ajayi is the Acting Director, Monetary Policy Department , Central Bank of Nigeria.





Recommended Citation

Ajayi, M. A. (2008). Monetary policy implementation and financial sector developments in Nigeria: the journey so far. Economic and Financial Review, 46(4), 65-95.

Included in

Finance Commons



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