Adebayo Kabir Tiamiyu
Title: NIGERIA’S MONETARY POLICY AND ECONOMIC DEVELOPMENT: EXPERIENCE OF THE CASHLESS SOCIETY AND AN APPRAISAL OF THE CENTRAL BANK DIGITAL CURRENCY (CBDC)
Supervisor: Dr. Egert Juuse
Opponent: Nastassia Harbuzova, MSc
Defense: 2-3 June 2022
Abstract: Money is an essential instrument to achieving the macroeconomic objectives of any nation; thus, this study used this perspective to contribute exploratorily using Nigeria as the case study. The study examined the possibility of issuance of CBDC, existing structures, the economic environment, benefits, opportunities, challenges, and risks in Nigeria. Using workable theories similar to fiat currencies. Despite noisome success stages of CBDC by central banks of the world, Nigeria is yet to have an overview of the possibility of issuing CBDC and as an employable option to its current difficulties of corruption, money laundering and terrorism. hThe study revealed that from the respondents’ views and that of the researcher, CBDC is a viable option that can eradicate most of the challenges faced in the current financial/monetary system like financial inclusion, money laundering and terrorist financing, interest rate discrepancies etc. This study, therefore, recommends that CBDC, similar to other developed and developing nations across the globe, explore the option of retail or wholesale CBDC to revamp the trust and reputation of the financial system both domestically and internationally
Keywords: CBDC, Nigeria, Digital Currency, Blockchain
