Central Bank of Nigeria. STATISTICAL BULLETIN Garki, Abuja Tel: Website: (c) Central Bank of Nigeria. The Central Bank of Nigeria (CBN) in its role as a principal advisory organ to the Federal Government of Nigeria generates a lot of statistical data for the purpose. 29 Apr *Mr. Jonah Otunla joined the Board of the Bank in June, .. Report; the CBN Economic and Financial Review; Statistical Bulletin;.

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Gross domestic product and FDI: Financial Policy and Regulation Department 2.

The initiatives are mainly targeted at cbn statistical bulletin 2011 sector, rural development and micro, small and medium enterprises. Look up other Dates Your browser does not support inline frames or is currently configured not to display inline frames. Essentially, there are three pivotal roles for the payments system, namely: The Nigerian Payments System witnessed remarkable achievements in the recent past, with the introduction of a number of initiatives under the Payments System Vision Central Bank of Nigeria.

CBN Annual Report 2011

Similarly, on the average, the oil price stood at The payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. The global pursuit of financial inclusion as a vehicle for economic development had cbn statistical bulletin 2011 positive effect in Nigeria as the exclusion rate reduced from Testing for the effects of cbn statistical bulletin 2011 rises using vector autoregressions.


A variance autoregressive VAR model. Development Financing Activities Newsletter. The results indicate a significant and positive unidirectional causality running from oil price to real GDP, suggesting that an increase in oil price promotes economic growth in the short run. In the short run, oil price contributed positively to rise in total exports in Nigeria through increased in oil export.

The initiatives are mainly targeted at agricultural sector, rural development and micro, small and medium enterprises. In view of this, Granger 31 causality test will be conducted using vector autoregressive VAR model to get cbn statistical bulletin 2011 direction of causality in the short run. Financial Institutions Consumer Protection. Furthermore, an increase in oil price leads to increase in total exports in Nigeria.

Cunado and de Gracia 13 also investigate oil price impact on fifteen European countries and find mixed results.

Annual Statistical Bulletin

Table 3 presents stafistical results of Johansen tests for the number of cointegrating ranks. Results of cointegration test for real GDP, oil price, total export, foreign direct investmenthuman capital and economic openness.

Empirical evidence from time series data in Cbn statistical bulletin 2011. Financial Inclusion Financial inclusion has continued to assume increasing recognition across the globe among policy makers, researchers and development oriented agencies.

Therefore, this study made use of the annual average price of oil in US dollars per barrel as cbn statistical bulletin 2011 proxy for oil price.

Dickey-fuller generalised least squares unit roots test has been applied in testing for stationarity of the variables and granger causality test adopted for testing the direction of causality. The effects of oil price shocks on the Iranian economy.


Central Bank of Nigeria | Annual Statistical Bulletin

The payments system plays a very crucial cbn statistical bulletin 2011 in any economy, being the channel through which financial resources flow from one segment of the economy to the other. Real GDP, CPI, real oil cbn statistical bulletin 2011, real money supply, real government recurrent expenditure, real government capital expenditure and real oil price.

Langrange-multiplier test for autocorrelation, Jarque-bera test, skewness test, kurtosis test and eigenvalue stability condition. Calabar, Ilorin and Sokoto branches were opened.

The impact response show that a positive cbn statistical bulletin 2011 shock high oil price is followed by rise in output, reduction in inflation and a depreciation of the domestic currency.

Time series evidence from Pakistan. Parallel market appreciation first time in 20 years. Impact of human capital on economic growth with emphasis on intermediary role of technology: Facilitation of cbn statistical bulletin 2011 market determination of exchange rates for the Naira vis-a-vis other currencies.

Finally, the result is in conformity with the findings of Ayadi et al. As at July 26, Also, the findings indicate a significant positive unidirectional causality running from oil price to total exports in Nigeria. Official visiting days are Tuesdays and Thursdays by appointment only.

Exports, foreign cbn statistical bulletin 2011 investment and economic growth: Phones General Switch Board: Method of data analysis: