Munich Personal RePEc Archive

Prudential guidelines and financial system stability in Nigeria.

Uddin, Godwin (2020): Prudential guidelines and financial system stability in Nigeria.

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Much studies had considered the efficacy of the Central Bank of Nigeria (CBN)’s monetary policy to ensure Deposit Money Banks (DMBs) performance in Nigeria, and the conclusions thereof had been mixed. Also, the need for initiatives that could inform efforts to strengthen the efficacy of CBN’s monetary policy (and or macro- and microprudential guidelines) remains, in same vein as there are scanty assertions in literature on other roles that the Asset Management Corporation of Nigeria (AMCON) – an agency aligned to the CBN – could perform to further strengthen the efficacy of the CBN’s macro- and microprudential guidelines, besides its statutory role of debt recovery for financial system stability. Thus, this exploratory review (or study) of 50 relevant literature is to examine the activities of AMCON, and its activities’ implication(s) on the CBN’s macro- and microprudential guidelines’ formulation and implementation in Nigeria. The findings thereof include AMCON contributes to DMBs’ surveillance which inform macro- and microprudential guidelines’ formulation, and that the basis of association between the CBN and AMCON is prominent in respect to macro- and microprudential guidelines’ implementation and compliance. Therefore, this study recommends CBN to leverage on AMCON’s interface with DMBs in efforts to ensure operational effectiveness of so established macro- and microprudential guidelines.

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