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The purpose of this proposal to enlarge important of the modern state of guarantee adequate provision for living and the need for economic growth in large part of the world have donated to the entrance of the prestige of monetary policy as an important instrument of economic policy and the essence would be laid on how the monetary authorities used these in controlling some major micro economic problems now rampart in our society monetary theories : various definition have been given to monetary policy by different economist.
Ginham (1980) define monetary policy as the credit control measure adopted by the central bank while I proposed the monetary policy has a final say who by the central bank of Nigeria because the money generated from there side and also monetary policy order to influence the supply of money, implemented via a wide range of institution both public and private to influence the level of economic activity. The positive role of monetary policy in the finance system having been recognized, the question arise about the objectives and roles of this policy economist have from time to time mentioned different roles of the monetary policy.
The central bank of Nigeria which is the apex financial institution and regulatory body of monetary credit, foreign trade and exchange policy in the country was established in 1958 under the act of parliamentary know as central banks Act for many years before the establishment of the bank a rudimentary monetary system had already begin the process of transforming.
Review of monetary policy in Nigeria: since independence monetary policy regimes in Nigeria can be divided broadly into two: 1960 to 1986 and 1987 to date pre-1986 period.
The economic environment that guided monetary policy before 1986 when the structural adjustment programme (SAP) introduced was characterized by the growing importance of the oil sector, the expanding role of the public sector in economic and over-dependence on the external sector.
During the period, the major objectives of monetary policy were the maintenance of relative price stability and healthy balance of payment position as well as the acceleration of the pace of economic development.
The focus on sectoral distribution of bank credit through the period was stimulate the productive sectors and therefore stem inflationary pressures.
The monetary policy which is one of the policy tool that can be used to achieve the macro-economic objective of a nation is aimed at maintenance of full employment, ensuring domestic price stability stimulation economic growth and development and maintenance healthy balance of payment equilibrium in order to evaluate the adequate of its operation in Nigeria.
TABLE OF CONTENT
TABLE OF CONTENT
CHAPTER ONE INTRODUCTION
CHAPTER TWO LITERATURE REVIEW
CASE STUDY AND METHODOLOGY
4.4 IMPACT OF MONETARY POLICY ON NIGERIA
SUMMARY, CONCLUSION AND RECOMMENDATION
5.4 LIMITATION OF THE STUDY
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