TERMS OF REFERENCE OF THE OKIGBO PANEL

See:

http://www.nigeriancp.net/tribune.html

The actual terms of reference of the Okigbo Panel were to
probe the activities of the Central Bank of Nigeria (CBN)
as follows:

1. To examine the legal framework guiding the
operations of Central Bank with particular reference to the relationship of the
bank with the Federal Government.

2. Re-appraise the structures for the co-ordination
and harmonisation of fiscal and monetary policies for the purpose of achieving
the objective of macro-economic policy;

3. Review the process of formulation and
implementation of monetary policy with specific reference to the control of
money supply, interest rates management and attainment of price stability.

4. Re-examine the design and implementation of
external sector policies with particular regard to the operations of the foreign
exchange market, exchange rate management, external reserve management, external
debt management and the dedication account operated by the Central Bank.

5. Review the growth and management of domestic debt,
especially the granting of ways and means of advances of the Federal Government
and Central Bank credit to the government generally.

6. Assess the adequacy or otherwise of the regulatory
framework for the financial system, with specific reference to the establishment
of financial institutions, prudential requirements and the bank