THE POLITICAL ECONOMY OF CENTRAL BANK REFORMS: THE NIGERIAN CASE
Keywords:
POLITICAL ECONOMY, CENTRAL BANK REFORMS, NIGERIAN CASESynopsis
The study evaluates the political economic effects of the Central Bank of Nigeria (CBN) reforms.This central objective was inspired by the pragmatic expectations on the CBN as an agency for thetransformation and development of the political economy. The work sets about this task by examining the different internai reorganisations and changes in the relationship between the CBN and the government. Just as the establishment of the CBN which has been noted to have some underlying political objectives, the CBN reforms and activities generally have some political dimension arising from the political economy of govemment finance and national development. Basically, the study observes that the current reforms in the CBN is part of the general reforms in the political economy which have been undertaken due to the downturil in the socio-economic activities. It is also noted that the success of the CBN reforms depends in part on the scale and scope of deregulation of the political economy as well as the lev.el of democratisation in the govemance processes. The activities and behaviour within the CBN are another set of factors that determine the level of achievement of the CBN reforms objectives.
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