This paper extends the empirical research strategy developed for modeling demand for M1 in Nigeria in Teriba (2006a) to one of its two sub-components, currency outside banks (COB). However, none of our findings for M1 stand up for COB. Specifically, the long run equilibrium relationship between...

This study addresses many of the pitfalls involved in the empirical modeling of M1 demand with data from an economic setting where there is no consensus on the background information for the choice of proxies for the variables suggested by theory. We explore alternative approaches for dealing...

Naira notes have attracted global attention at the turn of 2023 for the wrong reasons. The currency redesign policy was a needless exercise that turned out to be a chaotic wild goose chase, until the Supreme Court suspended it on legal grounds.The Supreme Court Ruling has however not completely...

One of the most spectacular developments in the 2023 presidential election is that a prominent leader of the democratic struggle is set to get a first bite at the presidential cherry, having emerged President-Elect from the February 25, 2023, Presidential Election, after a long and tortuous...

This paper demonstrates that the facts, issues, and reasoning that justified the N100, N200, N500, and N1,000 notes in Nigeria twenty five years ago should also justify N2,000, N5,000, N10,000, and N20,000 notes today. It reveals the the Central Bank of Nigeria (CBN) should go beyond its...

2015 is likely to be a year of contrasts in which a difficult and uncertain start will most probably give way to a promising end, as renewed post-election economic reform efforts to address fiscal, structural, and financial challenges highlighted by low oil price and weak capital inflows on the...