The Central Bank of Nigeria has published Volume 49, No. 4 (October–December 2025) of its Bullion journal, combining new research on monetary policy, liquidity conditions, external debt, trade policy and financial inclusion with an editorial note that updates the journal’s approach to co-authorship. The issue’s editorial note states that Bullion has, for the first time, included an editorial note and published a manuscript co-authored by three scholars, reflecting a refinement of its authorship policy to accommodate multidisciplinary collaboration and mentorship. Research highlights include a proposed Monetary Policy Effectiveness Index (MPEI) that aggregates five dimensions of central bank performance in developing economies (price stability, output responsiveness, transmission effectiveness, financial depth and inclusion, and institutional credibility). Other papers analyse Nigeria’s external debt servicing dynamics, the implications of “Trump tariffs” (including a 10% flat rate and 145% on Chinese imports, with specific tariff rates cited for selected African exporters) and the role of African regional economic integration, the political economy impact of Official Development Assistance in Nigeria, and barriers to women’s mobile-money adoption and business credit access. A further paper reviews the Central Bank of Nigeria’s liquidity management during aggressive tightening, finding persistent liquidity surpluses despite CRR debits and open market operations, and pointing to drivers including fiscal injections, maturing OMO bills and foreign exchange interventions. The publication also sets out contributor guidelines, including limits on manuscript length, a two-stage peer-review process, internal vetting including a plagiarism check, and stated honoraria of NGN 400,000 per accepted paper and NGN 200,000 per reviewed manuscript, and reiterates a consumer complaint escalation route where unresolved issues with regulated financial institutions can be referred to the Central Bank of Nigeria after two weeks using a tracking number.
Central Bank of Nigeria 2026-01-19
Central Bank of Nigeria publishes Bullion issue and expands journal authorship threshold beyond two authors
The Central Bank of Nigeria released Volume 49, No. 4 of its Bullion journal, featuring research on monetary policy, liquidity conditions, external debt, trade policy, and financial inclusion. Notable contributions include a proposed Monetary Policy Effectiveness Index for developing economies and analyses of Nigeria's external debt servicing and tariff impacts. The issue also introduces updated contributor guidelines and a consumer complaint escalation process.