THE IMPACT OF CENTRAL BANK OF NIGERIA POLICY REFORM ON BANK PERFORMANCE STABILITY (A CASE STUDY OF CENTRAL BANK, UYO BRANCH)
CHAPTER ONE
1.0 INTRODUCTION
One of the principal functions of the central bank of Nigeria (CBN) is to formulate and execute monetary policy to promote monetary stability and a sound financial system in Nigeria. The central bank of Nigeria carries out this responsibility on behalf of the federal government of Nigeria through a process outlined in the central bank of Nigeria decree 24: 1991 and the banks and other financial institution decree 25, 1991.
In formulating and executing monetary policy the government of the central bank is require making proposal to the president of the federal republic of Nigeria who has the power to accept or armed such proposals. Thereafter the central bank of Nigeria is obliged to implement the monetary policy approved by the president (Ekezie 2002).
Managing an economic entails articulating a well-meaning strategy and devising various policies and measures that ensure efficient utilization of a national resource with a view to promote economic growth, employment and maintained domestic and eternal sector stability.
Macroeconomic management encompasses a number of components, which include fiscal, monetary, banking, external, and real sector policies. Consequently, policy effectiveness depends critically on the consistency and complimentary of these sectoral components consistent with this interrelatedness. Monetary and banking policy, measures are designed to provide an environment that is conducive to the achievement of both macroeconomic stability growth and development (central bank of Nigeria bulletin, 2003 vol.27).
The objective of this the project, therefore, is to appraise the roles of the central bank of Nigeria in the management of monetary and banking policies in pursuit of the objective of providing a conducive environment for both macroeconomic stability and growth.
THE IMPACT OF CENTRAL BANK OF NIGERIA POLICY REFORM ON BANK PERFORMANCE STABILITY (A CASE STUDY OF CENTRAL BANK, UYO BRANCH)