Role of Central Bank of Nigeria on the Performance of Deposit Money Banks in South East Nigeria

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• April 17, 2024
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Rotimi, Uju Angela¹, Prof Okechukwu, Elizabeth Uzoamaka² & Mba, Paulinus Chigozie, PhD^3
123Department of Business Administration, Enugu State University of Science and Technology (ESUT), Enugu State, Nigeria

Abstract The study examined the role of Central Bank of Nigeria on the performance of deposit money banks in South East Nigeria. The specific objectives were to; examine the effect of implementing monetary policy on the profitability and evaluate the effect of currency regulator on the output of deposit money banks in South East, Nigeria. The study used the descriptive survey design approach. The primary source of data was the administration of questionnaire. A total population of 139 senior staff was used. The whole population was used as result of small number. One hundred and eleven (118) staff returned the questionnaire and accurately filled. Data was presented and analyzed using Likert Scale and the hypotheses was tested using Z- test. The findings indicated CBN Implementing of monetary policy had significant positive effect on the profitability Z (95, n = 118) = 4.557 < 5.385, p >0.05 and CBN Currency regulator had significant positive effect on the output of deposit money banks in South East, Nigeria, Z (95, n = 118) = 5.477 < 6.398, p >0.05. The study concluded that CBN implementing of monetary policy and CBN Currency regulator had significant positive effect on the profitability and output of deposit money banks in South East, Nigeria. The study recommended among others that for the benefit of the economy Nigeria, there is need for Central banks to use monetary policy to influence the growth of money supply consistent with the required aggregate Gross Domestic Product (GDP) growth rate, ensure financial stability, maintain a stable and competitive exchange rate of the naira, and achieve. Keywords Central Bank of Nigeria; Performance; Deposit Money Banks; Currency Regulator; Monetary Policy Citation Rotimi, U. A., Okechukwu, E. U. & Mba, P. C. (2024). Role of Central Bank of Nigeria on the Performance of Deposit Money Banks in South East Nigeria. International Journal of Advanced Finance and Accounting, 5(1), 1-16 https://doi.org/10.5281/zenodo.10734149