The Role Of The Cbn In Ensuring Affordable Housing For Nigerians

CHAPTER ONE INTRODUCTION 1.1   BACKGROUND TO THE STUDY Nigeria is the most populous country in Africa and 8th in the world, with a population of 173 million. Over the past decade the economy has been growing at an average rate of around seven percent yearly and, after Johannesburg, Lagos has the biggest, most liquid market in the region thereby creating the need for massive housing development. A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central b…