Effectiveness of credit guidelines asan instrument of monetary policy in nigeria

 

Table Of Contents

  • <p> </p><p>TABLE OF CONTENTS TITLE PAGE &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; II</p><p>APPROVAL PAGE &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; III</p><p>DEDICATION &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; IV</p><p>ACKNOWLEDGEMENT &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; V</p><p>ABSTRACT</p><p>TABLE OF CONTENTS &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;VI</p><p>

Chapter ONE

INTRODUCTION

  • </p><p>
  • 1.0&nbsp; &nbsp; INTRODUCTION &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 1</p><p>
  • 1.1&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;BACKGROUND OF THE STUDY &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 1</p><p>
  • 1.2&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;STATEMENT OF THE PROBLEM &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;3</p><p>
  • 1.3&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;OBJECTIVE OF THE STUDY &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 4</p><p>
  • 1.4&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;SIGNIFICANCE OF THE STUDY &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 6</p><p>
  • 1.5&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;LIMITATION OF THE STUDY &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;6</p><p>REFERENCE &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;8</p><p>

Chapter TWO

LITERATURE REVIEW

  • </p><p>
  • 2.0&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;REVIEW OF RELATED LITERATURE &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;9</p><p>
  • 2.1&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;GENERAL REVIEW &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 9</p><p>
  • 2.2&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;OBJECTIVE OF CREDIT POLICY GUIDELINES16</p><p>
  • 2.3&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;INSTRUMENTS OF CREDIT GUIDELINES 19</p><p>
  • 2.4&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;CREDIT GUIDELINES “HISTORICAL</p><p>PERSPECTIVES &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;22</p><p>REFERENCE &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 27</p><p>

Chapter THREE

RESEARCH METHODOLOGY

  • </p><p>
  • 3.0&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;RESEARCH DESIGN AND METHODOLOGY29</p><p>
  • 3.1&nbsp; &nbsp; SOURCES OF DATA &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 29</p><p>
  • 3.2&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;LOCATION OF DATA &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 30</p><p>

Chapter FOUR

DATA PRESENTATION AND ANALYSIS

  • </p><p>
  • 4.1&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;FINDINGS &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 31</p><p>

Chapter FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

  • </p><p>
  • 5.0&nbsp; &nbsp; RECOMMENDATION AND CONCLUSIONS &nbsp;35</p><p>
  • 5.1&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;RECOMMENDATION &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;35</p><p>
  • 5.2&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;CONCLUSIONS &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;37</p><p>BIBLIOGRAPHY &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;39</p> <br><p></p>

Project Abstract

Monetary policy is a crucial tool used by central banks to regulate the money supply and achieve macroeconomic objectives. In Nigeria, the effectiveness of credit guidelines as an instrument of monetary policy has been a topic of interest due to the challenges faced in achieving stable economic growth and controlling inflation. This study aims to assess the effectiveness of credit guidelines in Nigeria as a monetary policy tool. The research will employ a mixed-methods approach, combining quantitative analysis of data from the Central Bank of Nigeria with qualitative interviews with key stakeholders in the financial sector. The quantitative analysis will focus on the impact of credit guidelines on key macroeconomic variables such as inflation, economic growth, and interest rates. The qualitative interviews will provide insights into the implementation of credit guidelines and the challenges faced by financial institutions in complying with these guidelines. The study will also examine the relationship between credit guidelines and financial stability in Nigeria. By analyzing the impact of credit guidelines on the stability of the banking sector and the overall financial system, the research aims to provide valuable insights into the effectiveness of this monetary policy instrument. The findings of this research are expected to contribute to the existing literature on monetary policy in Nigeria and provide recommendations for improving the effectiveness of credit guidelines. By identifying the strengths and weaknesses of using credit guidelines as a monetary policy tool, this study will help policymakers make informed decisions to achieve their macroeconomic objectives. Overall, this research will provide valuable insights into the effectiveness of credit guidelines as an instrument of monetary policy in Nigeria. By combining quantitative analysis with qualitative perspectives, the study aims to offer a comprehensive understanding of the impact of credit guidelines on the Nigerian economy. The findings of this research will have implications for policymakers, financial institutions, and other stakeholders involved in the formulation and implementation of monetary policy in Nigeria.

Project Overview

<p> </p><p>INTRODUCTION</p><p>1.1 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;BACKGROUND OF THE STUDY</p><p>One important factor affecting the level of economic activities in any economy is change in supply. &nbsp;These changed affects directly the rate of spending by the citizen of the country. &nbsp;It is therefore, because of the economic importance of monetary that the monetary authorities has devoted time and resources towards money management with a view of reaping the benefits inherent therein.</p><p>The credit guideline, which is my topic of study, has formed the apex instrument used by monetary authorities in Nigeria to influence economic activities. &nbsp;The guidelines are informed of central bank of Nigeria monetary policy circulars prescribing sectoral and aggregate increase and decreasing in credits by the commercial and merchant banks.</p><p>According to Anyanwu J.A. (1998) the credit guidelines can be used to regulate the pace and content of economic in an economy. This involves authorities interference with the volume and direction of credit by the commercial and merchant banks to those sectors of the economy. &nbsp;This is why the government divided the economy into major sectors, the preferred or high priority sector and the less preferred or high priority sector and the less preferred or “others” sector.</p><p>The preferred sector comprises of agricultural industrial or manufacturing enterprises residential building construction, exports and essentials services sub-sectors.</p><p>The government has since the introduction of the credit guidelines in 1964, being urging banks to grant more credit facilities to this sector or order to boost the rate of economic development in the country. &nbsp;The less preferred sector of the economy also comprises of general commerce, government and “others”. &nbsp;Government also urges the banks to allocate less funds or exercise restraint in granting loans and advances to this sectors because of the affects it this sectors because of the affects it would have no the general price level.</p> <br><p></p>
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