Home | About Us | FAQs | RSS | Contact Us | Sitemap | Careers | Educational | Freedom of Information    

Monetary Policy

MPC Mandate of the CBN | Fiscal Policy | Committees | Calendar of Meetings | Educational | FAQ's | Policy Decisions | Policy Communiques | Intl. Economic Cooperations | Monetary Policy Review | Policy Measures | Monetary, Credit, Foreign Trade and Exchange policy Guidelines | Monetary Policy Committee Reforms

The Conduct of Monetary Policy

The Performance of Monetary Policy In 1995
The stance of monetary policy in 1995 continued to be tight, so as to complement a disciplined fiscal policy in order to achieve moderation in inflationary pressures and ensure exchange rate stability.

By the end of the year, the results showed that while there was improvement in the macroeconomic environment especially the stability of the naira exchange rate, inflationary pressures and the disequilibrium in the external sector persisted. Broad money stock (M2) rose by 10.3 percent as against the 10.1 percent target and narrow money (M1) rose by 8.1 percent, a level below the target increase of 9.4 percent. Bank credit to the economy rose by 36.2 percent, surpassing the target by 24.9 percent and credit to government increased by 18.4 percent as against the 5.6 percent target. Bank credit to private sector also increased by 69.6 percent as against the 21.9 percent target.

Facts : 1/1/1966
Central Bank of Nigeria, Enugu Branch:In the year 1966, The Central Bank of Nigeria Branch in Enugu was opened.It was the fourth Central Bank Branch that was established, bringing to 4, the number of Central Bank offices in Nigeria at that time.
See All: Facts | Events