CENTRAL BANK'S MONETARY POLICIES UNDER STRUCTURAL ADJUSTMENT PROGRAMME IN NIGERIA

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Date
1999-09
Authors
GARBA, MOH'D IBRAHIM
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Abstract
The introduction of the Structural Adjustment Programme in late 1986 with its underlying principles of liberalisation and deregulations has brought about a proliferation of banks and non-banking financial institutions. Competition has intensified, there has been increased innovation and sophistication in product design and delivery. Some of the policies introduced under the new reforms as they affect the commercial banking sub-sector include among others:- • an open door policy on the licensing of new banks; • market determined-exchange rate for the naira in the foreign exchange market (FEM); • deregulation of interest rates; • deregulation of the financial sector; • establishment of the Nigerian Deposit Insurance Corporation (NDIC); • privatisation of government shares in banks and other companies. While the new changes have enhanced the business opportunities and profits in the banking sector, they have also engendered challenges and problems. Intense competition and severe comprehension on operating margin has put the future of many banks in question, even as new ones are springing up to the advantages of new deregulated environments. This calls for more policy action and fine-tuning of the existing ones. In response to these developments, the monetary authorities have given increased emphasis to prudential requirements aimed at enhancing the safety of individual banks and the stability efficiency of the banking system as a whole.
Description
A PROJECT SUBMITTED TO THE POST-GRADUATE SCHOOL, AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILMENT FOR THE AWARD OF A MASTER DEGREE IN ADMINISTRATION (MBA) DEPARTMENT OF BUSINESS ADMINISTRATION INSTITUTE OF ADMINISTRATION AHMADU BELLO UNIVERSITY, ZARIA, NIGERIA SEPTEMBER, 1999
Keywords
CENTRAL BANK'S,, MONETARY POLICIES,, STRUCTURAL,, ADJUSTMENT,, PROGRAMME,, NIGERIA:,, ASSESSMENT,, COMMERCIAL BANKING.
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