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Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note on Strengthening Monetary and Liquidity Management

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  • International Monetary Fund

Abstract

This Technical Note focuses on strengthening of monetary and liquidity management in Nigeria. The Central Bank of Nigeria (CBN) has robust institutional framework in place to design and implement monetary policy. The CBN has also sufficient instruments for short-term liquidity management. The Monetary Policy Rate (MPR) corridor serves as a signaling device for the monetary policy stance. Although use of the overnight facilities is at the banks’ discretion, the CBN is able to use repo operations and outright transactions to manage day-to-day liquidity and guide short-term interest rates toward the MPR.

Suggested Citation

  • International Monetary Fund, 2013. "Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note on Strengthening Monetary and Liquidity Management," IMF Staff Country Reports 2013/315, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/315
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    Cited by:

    1. Nzeh Innocent Chile & Innocent.U. Duru & Abubakar Yusuf & Bartholomew .O.N. Okafor & Millicent Adanne Eze, 2021. "Modelling the Monetary Impact of Oil Price Volatility in Nigeria: Evidence from GARCH Models," Energy Economics Letters, Asian Economic and Social Society, vol. 8(1), pages 70-94, June.

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