Performance Appraisal Of Monetary Policy Of Central Bank Of Nigeria

INTRODUCTION I.IBACKGROUND OF THE STUDY Before the establishment of the Central Bank of Nigeria the West African Currency Board (WACB) which was established in 1912 had the responsibility for issuing legal tender currency. The WACB was set up to promote the financing of the export trade. It was the duty of WACB to issue West African currency. The exchange of existing currencies and the investment of reserves. The reserve were invested in Britain and this is in a way facilitated Nigeria’s international payments. However because the WACB was linked to the British system it could not engage in mo…