FOREIGN EXCHANGE ALLOCATION IN NIGERIA: A CASE STUDY OF CBN
FOREIGN EXCHANGE ALLOCATION IN NIGERIA: A CASE STUDY OF CBN
No Thumbnail Available
Date
1998-10
Authors
DIBBARI, Mshelia Ladi Buba
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
ABSTRACT
The problem of foreign exchange allocation raises a fundamental question in
any economy of the world, more especially in an economy that is largely monocultural.
The natural consequence of mismanagement of foreign exchange reserves
is the worsening of the balance of payment problems. This is the scenario in which
most developing countries of the globe including Nigeria find themselves today.
It is with the above in mind that this study attempted to study the role and
effect of foreign exchange management in Nigeria using the Central Bank of
Nigeria as a case study. Categorically, the study emphasized the maximization of
foreign receipts, adequate utilization of scare foreign exchange and improvement
of the balance of payment position.
In carrying out the above objectives, certain hypotheses were formulated.
These served as general guides to the researcher as they sought to explain the facts
of the assumed relationship.
Existing literature was reviewed, which included various opinions of
scholars and researchers alike in the field of study. The study also examined the
role of the central authorities in managing the country's foreign exchange
resources in the pre-SAP era and during the period of Structural Adjustment
Programme (SAP).
The sources of data collection for the study were both primary and
secondary. The techniques employed to generate the primary data included
vi
questionnaires and interviews administered on selected officials of the Central
Bank Nigeria. On the other hand, secondary data were gotten from related
textbooks, journals, educational and research publications etc.
The findings of this wor-icrevealed that in the era of Structural Adjustment
Programme the free market forces and private initiatives were the instruments used
for foreign exchange management. Their use, however, was not to avoid conflicts
in the area of policy implementation.
For an effective foreign exchange management, the export base of the
economy has to be diversified since the market forces were not in themselves
sufficient to guarantee optimally. Measures that would help to strengthen the
foreign exchange resources were highlighted as recommendation in the last chapter
of the study.
Description
DEPARTMENT OF BUSINESS ADMINISTRATION
FACULTY OF ADMINISTRATION
AHMADU BELLO UNIVERSITY,
ZARIA.
Keywords
FOREIGN,, EXCHANGE,, ALLOCATION,, NIGERIA, CASE,, STUDY