Central Bank of Nigeria


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Monetary Policy

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The Conduct of Monetary Policy

The Performance of Monetary Policy In 1993
The goals of monetary policy in fiscal 1993 were to reduce the inflation rate, minimize pressures on the external sector, stimulate growth in production and output, and reduce pressure on the balance of payments to ensure stable exchange and interest rates.

By the end of the year, there was a rapid expansion of monetary and credit aggregates as broad money rose by 52.8 percent instead of the target of 20 per cent and narrow money by more than 50 per cent instead of the 18 percent target. The trend was the same for other key aggregates. The rate of growth of real output as measured by GDP at 1984 constant factor cost declined, inflation rose and unemployment increased.

Facts : 1/1/1900
Paris Club of Creditors:The club represents only government guaranteed creditors. Members include the United States of America, United Kingdom, Germany, France and Canada, who guarantee the export activities of their nationals. When the recipient nation s government is unable to pay the equivalent of the imports domestic currency cover, it becomes government debt owed to creditor nations. The first Paris Club meeting was held in 1956.
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We are open for business Monday through Friday except on national holidays. Official visiting days are Tuesdays and Thursdays by appointment only. Our working hours are from 8:00a.m. - 4:00p.m.

Address

Central Bank of Nigeria
Plot 33,
Abubakar Tafawa Balewa Way
Central Business District,
Cadastral Zone,
Abuja,
Federal Capital Territory,
Nigeria

Post Office Box

P.M.B. 0187,
Garki Abuja.
Nigeria

Phones

General Switch Board:
See Reception Desk below

Authorized Dealer Enquires
+234 9 462 37804,
+234 9 462 37802

Commercial Agricultural Credit Scheme (CACS)
+234 9 46237602

Corporate Communications
+234 9 462 36011
Fax: +234 9 462 36012
cad@cbn.gov.ng

Complaints Against Financial Institutions
cpd@cbn.gov.ng

Forex Helpdesk
+234 9 462 37827
+234 9 462 37831

Reception Desk
+234 9 462 39701-02