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The Cash Crisis In Nigeria
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Book Synopsis The Cash Crisis In Nigeria by : Olumide Peter Awujoola
Download or read book The Cash Crisis In Nigeria written by Olumide Peter Awujoola and published by Independently Published. This book was released on 2023-02-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Cash Crisis in Nigeria: Uncovering the Roots of a National Shortage" is a powerful and thought-provoking book that provides a critical analysis of the complex economic landscape of Nigeria. Written by renowned economist Peter Awujoola, this book is a must-read for anyone seeking to understand the root causes of Nigeria's cash scarcity and the challenges facing the nation's financial system. Through a thorough examination of economic data and interviews with key players in the financial sector, Peter sheds light on the underlying factors contributing to the current shortage of cash in circulation. He covers important topics such as the impact of government policies, the role of the central bank, and the effects of corruption on the economy. What makes this book truly special is its clear and engaging writing style. Peter provides a comprehensive overview of the challenges facing Nigeria's financial system and offers practical solutions for overcoming these obstacles. Whether you're a seasoned economist or simply someone looking to deepen your understanding of the economy, this book provides valuable insights and a fresh perspective on the current predicament of Nigeria. In addition to providing a detailed analysis of the current cash crisis, the book also provides a historical perspective on the development of Nigeria's financial system and how it has evolved over the years. This historical context helps readers understand the current crisis in the context of the nation's broader economic history. Furthermore, the book analyzes the role of the banking sector in the cash crisis, exploring the role of commercial banks, microfinance institutions, and other financial entities. The author also highlights the various initiatives that have been taken by the Nigerian government and the central bank to address the cash crisis and assesses the effectiveness of these initiatives. In conclusion, "The Cash Crisis in Nigeria: Uncovering the Roots of a National Shortage" is an essential resource for anyone who wants to understand the current state of the Nigerian economy and the challenges it faces. It provides valuable insights and a thought-provoking perspective on one of the most pressing economic issues facing Nigeria today. This book is a heart-touching tribute to the people of Nigeria, who are facing these challenges every day, and it serves as a call to action for all of us to work together to find solutions to these pressing economic problems.
Book Synopsis Cash Crisis Creates Havoc in Nigeria by : Shreshthi Mehta
Download or read book Cash Crisis Creates Havoc in Nigeria written by Shreshthi Mehta and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nigerian government has changed its currency design ahead of the presidential elections. The new cash is not easily available to the public, which has created an unrest in the society as the Nigerian people rely very heavily on paper money. The case discusses the political reasons for the cash crunch and addresses the pitfalls of the demonetization process. What steps should the government of Nigeria undertake to resolve the crisis?
Book Synopsis Global Financial Crisis by : S. O. Akande
Download or read book Global Financial Crisis written by S. O. Akande and published by . This book was released on 2009 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Upshot of Financial Crisis on Nigerian Banks by : Olayinka Moses
Download or read book Upshot of Financial Crisis on Nigerian Banks written by Olayinka Moses and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that caused severe cash crunch in several western economies did not spare countries of lesser economic prowess as it had its remote implication for the Nigerian banking sector which plays a significant role in the economy. This study assessed the impact of the global financial crisis on the Nigerian banking sector with a focus on the 10 troubled banks, 8 of which hold 35.6% of the industry's asset. Secondary data gotten from annual reports and financial statements of ten banks were used. It was discovered that the abuse of various banking processes which should usually be strictly observed before loans are granted where ignored, thus exposing Nigerian banks to financial crisis and the alarming level of non-performing loan in most of the banks was also a significant factor that led to the problems of the troubled banks. The paper recommends that the level of risk management policies in Nigerian banking sector should be regularly reviewed and improved upon, special audit of banks should be done more often and more commitment should be shown by regulatory agencies (i.e. Central Bank of Nigeria and Nigerian Deposit Insurance Company) in the monitoring and supervision of banks.
Book Synopsis Financial Sector Instability and Challenges to Nigeria's Monetary Authorities by : Augustus N. Gbosi
Download or read book Financial Sector Instability and Challenges to Nigeria's Monetary Authorities written by Augustus N. Gbosi and published by . This book was released on 2002 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nigeria by : International Monetary Fund. African Dept.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-05-28 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nigerian financial system underwent a banking crisis in 2008–09, owing to the global financial crisis and domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy. The Central Bank of Nigeria (CBN) has a broad resolution toolkit, which was put to use during the crisis to resolve the intervened banks. The Nigerian authorities set up the Asset Management Corporation of Nigeria (AMCON) to purchase nonperforming loans of banks.
Book Synopsis Nigeria by : International Monetary Fund. African Dept.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-05-28 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisory framework has gaps and weaknesses. In sum, the Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.
Book Synopsis Banking Regulation in Africa by : Folashade Adeyemo
Download or read book Banking Regulation in Africa written by Folashade Adeyemo and published by Routledge. This book was released on 2021-12-28 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is little literature on the development of banking regulation in Nigeria, or the scope of powers of the Central Bank of Nigeria, which is its core banking sector regulator. The critical impetus of this book is to contribute to the literature of this area, with a detailed exploration of the Nigerian regulatory architecture. In addition, the book also engages in a comparative analysis with two emerging economies in Africa: South Africa and Kenya. It also considers the UK and the US as comparator jurisdictions in light of their regulatory responses to the global financial crisis of 2008. This book contributes to the ongoing discourse in this area by exploring, in detail, the theoretical underpinnings of regulation and supervision, to determine whether there is an understanding of what constitutes effective regulation in these jurisdictions. Given that Nigeria is the core jurisdictional focus, a historical account of banking exchanges from the pre-colonial era to more recent times is provided. Offering an understanding of how political, local and economic settings, in conjunction with the theories of regulation, have impacted and influenced regulatory development in Nigeria, the book engages in an examination of Nigeria’s historical experiences with bank failures, including the banking crisis it experienced in 2008. The newly enacted Banks and Other Financial Institutions Act 2020 is also explored as part of this discourse. Through a critical analysis of the law, the book demonstrates that the Nigerian regulator has historically adopted a reactionary strategy, instead of a proactive and pragmatic approach, which is imperative for an effective regulatory regime. The outcome of this analysis is that there are lessons to be learned, and proposals are discussed in order to rethink the act of banking regulation.
Book Synopsis How CBN Confronted the Meltdown by : Ismail Cagri Ay
Download or read book How CBN Confronted the Meltdown written by Ismail Cagri Ay and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an analysis of policy responses to the Global Financial Crisis by the Central Bank of Nigeria (CBN). Given its unique position as a major commodity exporter with a large population, Nigerian authorities utilized a mixture of policies including reductions in the monetary policy rate and capital reserve requirement, lending through the expanded discount window, money market interbank transactions guaranty and limitations on deposit money banks' (DMBs) foreign exchange net open positions. CBN also rolled over margin loans that were extended to equity investors. As a result the country weathered the financial crisis with limited damage and recorded positive growth rates between 2008 and 2010.
Book Synopsis Banking Reform in Nigeria by : Y. Makanjuola
Download or read book Banking Reform in Nigeria written by Y. Makanjuola and published by Springer. This book was released on 2016-04-30 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book captures Nigeria's crisis management experience and lessons learnt during the five-year tenure of Sanusi Lamido Sanusi as CBN Governor. It provides a backdrop of the sub-prime mortgage crisis in the US characterised by the Lehman Brothers debacle in 2007-08, which precipitated global economic and financial crisis.
Book Synopsis Recent East Asian Financial Crisis by :
Download or read book Recent East Asian Financial Crisis written by and published by . This book was released on 1998 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of Global Financial Crisis on Nigeria Economy by : Olawale Luqman
Download or read book The Effect of Global Financial Crisis on Nigeria Economy written by Olawale Luqman and published by . This book was released on 2015 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research work studied the effect of global financial crisis on Nigeria economy in Nigeria. The financial crisis ravaging the global economy is naturally a serious cause for concern to policy makers. Secondary data were used in this study, the data were collected from CBN statistical bulletin also data were also gathered from journals and textbook that are related to the research topic. The overall significance of the regression is tested using Fisher's statistics. In this study the calculated F* value of 47.375 is significant at 5%. The result however show that linear relationship exist between the dependent and the independent variables of the model. The evidence established that the independent explanatory variables have individual and combine impact on the market capitalization in Nigeria. There is significant relationship between global financial crisis and capital market in Nigeria. Some of the recommendations made in this study are that. There is an urgent need for the total overhaul of regulations and regulatory framework, in order to enhance both the on-site and off-site examination and supervision of the banks. There is the need for increased and enhanced provisions for consumer protection. Nigerian economy is a mono-economy; any crash on the price of oil internationally will cripple our economy. So it is a matter of urgency for the Nigerian economy to divest into agriculture, manufacturing, information technology etc. Political stability is an important factor that encourages investment in an economy. So our nascent democracy should be nurtured.
Download or read book October 13,2008 written by THE. NATION and published by . This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nigeria by : International Monetary Fund. African Dept.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 2013-05-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis provided Nigerian banks with opportunities to expand within Sub-Saharan Africa. Nigerian banks have active cross-border liquidity flows, which may complicate the operation of monetary policy. The Central Bank of Nigeria (CBN) should enhance further its work in improving cross-border supervision, including home-host coordination and cooperation. The CBN may also consider taking initiative in establishing a regional coordination group similar to the Vienna Initiative. The CBN should improve data collection and granularity on cross-border transactions and funding flows of Nigerian international banks.
Download or read book Nigeria written by and published by . This book was released on 2013 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nigerian financial system underwent a banking crisis in 2008-09, owing to the global financial crisis and domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy. The Central Bank of Nigeria (CBN) has a broad resolution toolkit, which was put to use during the crisis to resolve the intervened banks. The Nigerian authorities set up the Asset Management Corporation of Nigeria (AMCON) to purchase nonperforming loans of banks.
Download or read book Marginal Gains written by Jane I. Guyer and published by University of Chicago Press. This book was released on 2004-03 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In America, almost all the money in circulation passes through financial institutions every day. But in Nigeria's "cash and carry" system, 90 percent of the currency never comes back to a bank after it's issued. What happens when two such radically different economies meet and mingle, as they have for centuries in Atlantic Africa? The answer is a rich diversity of economic practices responsive to both local and global circumstances. In Marginal Gains, Jane I. Guyer explores and explains these often bewildering practices, including trade with coastal capitalism and across indigenous currency zones, and within the modern popular economy. Drawing on a wide range of evidence, Guyer demonstrates that the region shares a coherent, if loosely knit, commercial culture. She shows how that culture actually works in daily practice, addressing both its differing scales of value and the many settings in which it operates, from crisis conditions to ordinary household budgets. The result is a landmark study that reveals not just how popular economic systems work in Africa, but possibly elsewhere in the Third World.
Author :United States. Congress. House. Committee on Financial Services. Subcommittee on International Monetary Policy and Trade Publisher : ISBN 13 : Total Pages :72 pages Book Rating :4.:/5 (318 download)
Book Synopsis The Global Financial Crisis and Financial Reforms in Nigeria by : United States. Congress. House. Committee on Financial Services. Subcommittee on International Monetary Policy and Trade
Download or read book The Global Financial Crisis and Financial Reforms in Nigeria written by United States. Congress. House. Committee on Financial Services. Subcommittee on International Monetary Policy and Trade and published by . This book was released on 2010 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
