Browsing by Author "Sulu Babaita ISIAKA(PhD)"

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    EVALUATION OF CBN POLICIES AND ITS EFFECT ON LOCAL BUREAU DE CHANGE
    (Management and Social Sciences, Fountain University, Osogbo, Nigeria, 2016-06) Sulu Babaita ISIAKA(PhD); Adewumi Sulaiman ABDULLAH; Olushola Joshua OMOLEKAN
    The Advent of the new political dispensation that was inaugurated in Nigeria on the 29th May, 2015 has continued to demonstrate signs of sincerity and integrity. These include fight against all sorts of corruption in the country. This study aims to evaluate the Current Central Bank of Nigeria (CBN) policies d its effects on customers patronage of local bureau de exchange operations in Nigeria. The study examines the probability of survival of Burea De Change (BDCs) in the face of stringent national policies. Judgmental and convenience sampling techniques were used to select the sample for this study. Questionnaire was used to elicit information from both the customers and staffs of the selected BDCs. Correlation and Z test analysis was used to test the formulated hypotheses. The findings from the study revealed that there is a positive relationship between CBN FOREX policy and customers patronage; and that BDCs cannot survive in the face of stringent financial policies. The study proposed that local Bureau de Change operators be pre-informed of any financial policy so as to allow them time to prepare palliative measures to allow them have a 'soft landing' during change periods. It is also recommended that instead of total embargo placed on the FOREX operations, daily transaction limits should be enforced in order to have control of their operations.