THE ROLES AND IMPACT OF CENTRAL BANK OF NIGERIA IN NIGERIA ECONOMIC DEVELOPMENT

THE ROLES AND IMPACT OF CENTRAL BANK OF NIGERIA IN NIGERIA ECONOMIC DEVELOPMENT

ABSTRACT

This research work examined the role of Central bank in development of Nigeria Economy (1986-2010). Secondary data were used in this research work. The hypothesis was tested to examine the significance of relationship that exist between monetary policy tools, exchange rate and interest rate on economic growth in Nigeria. The analytical techniques used were the simple regression analysis while the student t-ratio was used for the test. From the test, it was observed that a positive relationship existed with negative relationship exist between the variables. Hence the researcher concluded that monetary policy is an efficient tool for economic growth in Nigeria. And therefore recommended that effort should be made to improve on the quality and the timeless of data generated within and outside the financial sector, so that actions could be taken without much delay in controlling adverse situations.