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Appraisal Of Monetary Policy Implementation In Nigerian Banks
[A CASE STUDY OF CBN]
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1.4 DEFINITION OF THE TERMS
Brief definitions of the terms relevant to this highlighted below.
1. Monetary policy: This is concerned with the use of money supply and credit control to change macro-economic activities.
2. Discount Rate: This is the rate of interest paid by banks to CBN when they borrow from them.
3. Research requirement: This is the function of commercial banks demand and time deposit that must be kept with the CBN.
4. Open Market operations: It is the selling and buying of government and other eligible security by CBN in open market.
5. Special deposit: This means supplementary revenue that are used by CBN to reduce the volume of commercial banks liquidity.
6. Moral Suasion: This involve the employment of persuasion or public pronouncement or outright appeals on the part of monetary authorities to the bank regulating to operate in a particular direction for the realization of specified objective.
7. Direct credit control: This involves imposition of quantitative ceiling on the overall commercial banks credit y the CBN.
8. Monetary target: this is value that the monetary authorities shoot at in determining their appropriate policies.
9. Monetary People: It simply the money stock of any moment in the economy on the other hand, it is defined as currency with the public and demand deposit with commercial bank.
10. Gross Domestic Products: This measure the output produced factors of production in the domestic economy regardless it who own these factors within the nation.
1.5 LIMITATION OF THE STUDY
This work aim at examining the effect of monetary policy on the development of banking sector.
The problem encountered and the way forward. This study is restricted to the operation of monetary policy in Nigeria, between 1992 – 2008.
1.6 PLAN OF THE STUDY
This research work consist of five chapters. Chapter one of this research works is made up of the introduction the statement of the study the objective of the study, the significance of the study the limitation of the study, the definition of terms and the plan of the study.
Chapter three of this research work also includes research methodology.
Chapter four consists of data presentation and analysis.
Finally Chapter five of this research work includes summary conclusion and recommendation.
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