ROLE OF CENTRAL BANK OF NIGERIA IN ENSURING EFFICIENT AND EFFECTIVE BANKING OPERATION IN NIGERIA
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ROLE OF CENTRAL BANK OF NIGERIA IN ENSURING EFFICIENT AND EFFECTIVE BANKING OPERATION IN NIGERIA
EVALUATION OF THE ROLE OF THE CENTRAL BANK OF NIGERIA IN ENSURING EFFICIENT AND EFFECTIVE BANKING IN NIGERIA
The primary goal of this research is to investigate the role of the Nigerian Central Bank in ensuring efficient and effective banking operations in Nigeria.
The study was conducted to determine the role of the Nigerian Central Bank as an apex bank.
The central bank, as the apex bank, is obligated by law to maintain accounts with commercial banks. The researcher employed secondary data in this project.
Finally, the government should offer more equipment, such as computers, to the apex banks in order to encourage them to engage in banking activities.
INTRODUCTION
1.1 STATEMENT OF THE PROBLEM
v It is often assumed that bankers were concerned about their customers’ difficulties in withdrawing funds.
v Commission, interest, and service charges were examples of wear on the customers.
v Delays and widespread bank strikes could not be ruled out.
v Banks’ lending practises in Nigeria are likewise questionable, as they strive to lend only to sectors that profit them the most, to the disadvantage of other sectors of the economy.
v It can make it difficult for employees to receive their earned revenue or wage when it is due.
v The current inflationary trend and accompanying depreciation of the naira are other issues that must be addressed.
v Orders and regulations issued by the CBN in areas of control cover other financial institutions are broken with frequency and with little or no penal corrective measures.
The aforementioned issues clearly demonstrate that banking operations in Nigeria are highly ineffective. Despite the fact that great progress has been made in recent years, more progress is still expected.
1.2 THE OBJECTIVE OF THE STUDY
2 To determine the causes of persistent bank distress notwithstanding policy actions and improvements implemented by Nigeria’s central bank.
3 To identify methods to improve the CBN’s supervisory role.
4 To give recommendations based on the findings.
1.3 SIGNIFICANCE OF THE STUDY
The review of the role of the Central Bank of Nigeria in maintaining efficient and effective banking operations in Nigeria will benefit the commercial bank and its customers.
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