MANAGEMENT OF FOREIGN EXCHANGE BY CENTRAL BANK OF NIGERIA PROBLEMS AND PROSPECTS
ABSTRACT
This with foreign exchange management in Nigeria by the Central Bank of Nigeria (CBN) from 2006 to 2012. The need to manage foreign exchange became imperative as a result of this equilibrium in the foreign exchange market caused by inadequate supply of foreign exchange management is a conscious attempt to harnesses foreign exchange resources deploy them to service the economy so as to prevent the economy from experiencing shocks due to foreign exchange volatility. The central focus of this is to examine how CBN through its policy measures manages foreign exchange in the country. To carryout this work, the respondent makes use of both primary and secondary data. Questionnaires were in line with the objective of the study. Based on the objective of
the study the findings reveal that the role of CBN in managing foreign exchange is not impressive. The impact of exchange rate policy in managing foreign exchange is not encouraging; the activities of panel market operators negatively affect the effective operation of the foreign exchange management. Conclusion and recommendations were made in line with the findings.
TABLE OF CONTENT
Title page i
Approval page ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content vi
CHAPTER ONE
INTRODUCTION
1.1 Background of the study 1
1.2 Statement of the problem 4
1.3 Objectives of the study 5
1.4 Research questions 5
1.5 Significance of the study 6
1.6 Scope of the study 7
1.7 Limitation of the study 7
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Definition of foreign exchange 8
2.2 Foreign exchange in Nigeria 11
2.3 Structure of Nigeria’s foreign exchange market 15
2.4 Growth of the market exchange in Nigeria 16
2.5 Foreign exchange market and monetary manage in Nigeria 20
2.6 The structure of the country’s output 22
2.7 Overview of the Nigerian exchange rate policy 24
2.8 The eicacy
of monetary policies in the management of firms 28
2.9 Foreign exchange management objectives and policy 33
2.10 Foreign exchange problems 37
2.11 Foreign exchange control 39
CHAPTER THREE
METHODOLOGY
3.1 Design of the study 41
3.2 Area of the study 42
3.3 Population of the study 42
3.4 Sampling Method 43
3.5 Research Instrumentation 44
3.6 Validity and Reliability of the Instrument 45
3.7 Sources of Data 46
3.8 Analytical Technique 48
CHAPTER FOUR
PRESENTATION AND ANALYSIS DATA
4.1 Data analysis 49
CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATION AND CONCLUSION
5.1 Summary of Findings 61
5.2 Conclusion 62
5.3 Recommendation 63
Bibliography 64
Appendix I 69
Appendix II 70
