THE ROLES OF CENTRAL BANK OF NIGERIA AND MERCHANT BANKS IN FINANCIAL INTERNATIONAL TRADE IN NIGERIA. A CASE STUDY OF CBN ENUGU. AND CROWN MERCHANT BANK BENIN. A RESEARCH PROJECT MATERIAL ON ACCOUNTING
In classical economic theory, trading is good for you. You are better off concentrating on producing and selling the commodities for the production of which you have a comparative advantage and buying from others those commodities you need which they can produce relatively more cheaply. This through the market mechanism, a high level of output of goods and services is attained and shared to the benefits of energy participant in the transaction. As with individuals, so with nations. In Nigeria, international trade has contributed a lot of the country’s infrastructural and manpower development. It therefore becomes necessary to look at the central bank of Nigeria and the merchant banks and their contribution towards financing international trade in Nigeria, with a case study of CBN Enugu, and crown merchant bank Benin. In this work, the key features of international trade are enumerated and well analyzed. This work went a long way in attempting to see the specific roles played by merchant banks and central bank of Nigeria in financing international in Nigeria. This work is structure into five chapters the basic highest of all the chapters can be summarized as follows:
- Introduction to the research mark.
- International trade in Nigeria, its feature benefits and constraint.
- Research methodology, analysis of data findings.
- Historical background, function and structure of the banks.
This work opens with the introduction and definition of international trade, aims of study, scope and limitation, and the significance of the study. The literature are viewed which focuses on international trade in Nigeria is contained in chapter Two. Topics of varying nature and included here, among them are: Nigeria banking system, benefits of international trade, trade restriction, balance payment and Nigeria foreign trade. Chapter three looks at the research methodology and analysis of its findings. The historical background, structure, functions of central bank is highlighted in chapter four. This in charge their roles in international trade. This work is concluded in chapter five with observation and recommendation.
The role of international in the acceleration of political and socio – economic development of any nation deserves a good study. The term international trade refers to the trading operation conducted beyond national boundaries otherwise called export and import. It enables one country t have access to those commodities they could not possible produce themselves. Thus a country is able to shift its industry to those products and services for which its resources are most suitable exporting its resources in exchange for the specially of other countries.