Select Currency
Translate this page


Format: MS WORD  |  Chapter: 1-5  |  Pages: 65  |  638 Users found this project useful  |  Price NGN3,000



This research work will take a look at the traditional role of central bank of Nigeria in the Nigerian economy. A good knowledge of the strategies the bank uses in implementing and in restructuring the dwindling economy will be identified. It will also cover the constraints the bank faces in implementing the government programmes. The importance of central bank of Nigeria in developing the Nigeria economy cannot be over stressed to looked.  The central bank being the bankers bank and the lender to last resort is a mirror that reflect the nations economy. As development proceeds, the structures and organization of economy becomes increasingly complex, while the central bank roles becomes increasingly complex. Now that Nigeria is faced with a depressed economy, mass unemployment, low rate of exchange, high rate of foreign debt, high rate of inflation, fall in foreign reserve, a fall in oil output, and high cost of living, the central bank has got a lot of extra work to do in order to help to recover the dwindle economy. This research will take a look into some journals of how far the central bank of Nigeria has been of help in past years trying to make a successful implementation in recovery the depressed economy of the country.





Central banks in West African owned their origin to the political development in rest African. The Central bank of Nigeria (CBN) was established in 1958, after the dissolution of West African currency board set up in 1912 where the colonial monetary system had its foundation which began to disintegrate with the attainment of political independence in Ghana in 1957, because the median of exchange were multi - farious and not very conducive to the operators of a modern monetary system. One could ask why Nigeria had no monetary system until the establishment of West African of simple currency system for the West African in 1912. The (W.A.C.B) West African currency board retained the services of the bank of British West Africa (B.B.W.A) as its currency centers in Lagos (Nigeria), Accra (Ghana), Freetown (Sierra lore) and Bathurst (Gambia) and Ghana being the first to get her independence in 1957 decide to have her own currency and other country that had here own currency, and Nigeria as one of the independent country objected to this, for which (C.B.N) central bank of Nigeria was established discuss its collaboration with other financial institution in implementing macro economic policy measure designed to facilitate efficient management of Nigeria economy.

The W.A.C.B created an incentive for the establishment of modern financial system in Nigeria because W.A.C.B could hardly be described as a monetary authority in terms of using any discretion power to control the growth of credit and money supply in the economy which made to known that the W.A.C.B is simply a “passive monetary changes” the establishment of W.A.C.B provided the basis for agitation in favour of the creation or establishment of Central bank of banks, not only in Nigeria but in other countries operating under W.A.C.B system.

The first formal move towards the establishment of central bank in Nigeria was in April 1952, when the private members motion was proposed in the then house of representatives, calling for the establishment of a central bank in Nigeria to perform essentially those functions generally associated with central bank, but the motion was not passed by the house because, the then colonial government termed the establishment as premature in view of the relative under development of the local financial system, and the house passed on mended motion asking the government to examine and report back to it in the possibility of establishing a central bank in Nigeria.

Mr. J.D Fisher, the adviser to the bank of England was accordingly given the task for examining their possibility, but his report did not favour the establishment of central bank in the country, in the near future, for he did not recommend the three step programme which was proposed to lead to the establishment of the central bank of Nigeria. One of the steps was the transfer of the West African currency board (W.A.C.B) headquarters from London to West African, which were hoped would allow the local people to be more closely with the board and provide them with the opportunity of acquiring some expenses. The second step was that a Nigeria currency Board to issue Nigeria currency to be established to replace the W.A.C.B) currency. The third being the establishment of our band of issue which would later be development into a central bank, but all these motions did not receive Fishers recommendation and were not taken to the house of representative either, rather what led to the establishment of the C.B.N was the J.B Loynes recommendation who was also an adviser to the bank of England, as the suggested for the establishment of C.B.N and it was approved to perform a traditional function of the central baking and to serve a private in national financial institution and in the development of the economy.

The federal government enacted a law  called bank of Nigeria ordinance as earlier mentioned in 1958 establishing the central bank of Nigeria which started functioning on July 1, 1959, when the prime minister Tafawa Balewa in a colorful ceremony declared the building open in Lagos, this made central bank to be a bank as a major financial institution in any modern economy and very important to the functioning of both the private section and the fiscal operations issuing the country’s currency and helping the government in the formation and execution of the country’s monetary policies central bank in over all developing country is basically set up by its government to perform at least these roles generally associated with central banks which its roles in Nigeria, economy like other countries are fairly wide in indeed. The central bank being bestowed with some traditional function aimed at promoting rapid economic development through it developmental roles.


As a matter of facts Central Bank of Nigeria has been experiencing series of problems overtime, in attending to develop Nigeria economy.  These problems ranges from inability of commercial banks to here strictly to the laid down rules and regulations as may be stipulated be Central Bank. Meanwhile, economic development and growth as in these research work is a joint effort of the central bank and commercial banks. In addition Central Bank may bring out stringent measures in order to control economy.  These measures may not be feasible or fully executed as a result of such policy to the economy in question. For instance, Nigeria economic team may employ American, Italian, Spanish economic policy to achieve a certain level of development. It might not work with Nigeria because of Nigeria attitude and the environment etc.  These and many more are the problems facing development in Nigeria.


i.   To findout if the Central Bank of Nigeria has aided or hampered the development of the economy.

ii.   To examine whether Central bank of Nigeria has assisted in the growth and development of Nigeria economy.

iii.   To evaluate strategies or methods taken by the central banks in recent time to restructure the country’s economy.

iv.   To ascertain the actual rule of central Bank and how it has contributed to the growth and development of Nigeria economy.


In this study, the researcher decided to test three hypotheses.

Hypothesis I

H0:   Central Bank of Nigeria does not aid the growth and development of banking industries in Nigeria.

H1:   Central Bank of Nigeria aids the growth and development of banking industries in Nigeria.

Hypothesis II

H0:   Central Bank of Nigeria does not encounter problem in the growth and development of banking industries of Nigeria.

H1:   Central bank of Nigeria encounter problem in the growth and development of banking industries in Nigeria.

Hypothesis III

H0:   Central bank of Nigeria does not encounter problem in that growth and development of banking industries in Nigeria.

H1:   Central bank of Nigeria have solution to these problems that are facing growth and development of banking industries in Nigeria.


The importance of this project will enhance the economic development of Nigeria through the following ways. This project work will make commercial and other financial institution to understand when customers are not operating in their banks. This project work will enable federal government to be active in participation in the banking system. This project work will enable the banker to known that minimum and maximum amount of money their customers respect to deposit in the bank. This project work will enable the student both National Diploma and Higher National Diploma who studies banking to acquire knowledge on their studies. This project work will motivate central bank of Nigeria’s staff to work actively in order to promote sound financial system and it helps to establish and maintain lines of communication in a bank.


Central bank of Nigeria out line how use monetary and fiscal policy to achieve full employment and they also have surpluses in balance of payment and by exchange control. Central Bank of Nigeria have s strong economic growth and development in Nigeria.  They subordinate to the planning ministry, were to use their money creating authority and their regularity powers to direct flows of bank credit to favoured industries and to support the economic plan.


Budget: Estimate of probable future income and expenditure

Clearing House: place where banks exchange cheques and settle accounts: the balance being paid in cash

Collateral: property of slow or bond pledge as security for payment of a loan.

Consortium: temporary cooperation of a number of banks for a common purpose.

Dearth: A scarcity or lack of something.

Development Plane: is an ideal way of setting out a country’s economic development objectives and to demonstrate initiative in tackling the country’s economic developments.

Sinking fund: funds built from period transfer usually twice a year from government review for the redemption of a maturing solves

Moral suasion: pursuance based on moral grounds not force.

Rediscount: involves the exchange of securities for cash

Smuggling: act of getting goods and other contra – band goods secretly and usually into and out of a country

Subvention: subsidy grants of money in e.g. federal government grant or subventions to states.


Not What You Are Looking For?

For Quick Help Chat with Us Now!

+234 813 292 6373

+233 541 351 187

Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Swift delivery within 9 minutes of payment. Thank you project master
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.


  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on 0813-292-6373 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.


How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: (+234) 813-292-6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!