CHAPTER ONE
1.1 INTRODUCTION
The growth and development of international trade along west African coast played a major role in extending the medium of exchange beyond trade by barter in the nineteenth century.
The ‘’native currency’’ system which relied on item such as manila, cowries, brass and copper rods had to accommodate foreign currencies such as Maria Theresa dollar and British silver coins increased trade motivated the setting up of the Bank of British West African [BWA] in 1894, thereby drastically reducing the barter system and ushering in a rudimentary form of commercial banking.
The issue of legal tender currency for the West African region was however deferred till 1912 when the west African currency Board [WACB] was established. The WACB was an offshoot of the recommendation of the EMMOE committee set up by the then secretary of state the Rt. Ifon. Lewis Harcourt. The WACB retained the services of the BBWA as its currency distribution agent. It set up four currency centers in Lagos [Nigeria] and Bathurst, now Banjul [the Gambia].The currency in circulation in West Africa increased steadily through the 1950s in response to the growing demand and increase in the World price for west African primary products such as cocoa, groundnuts and palm oil.
NOT THE TOPIC YOU ARE LOOKING FOR?
Once payment is made, kindly send us your project topic, email address and payment name to +234 810 144 4147
Once payment is confirmed, Project materials will be sent to your email
Importation is important for the development and growth of national economies because not all countries have the resources and skills required to produce certain goods and services thus there is need for them to import products which they deem fit is...
This study will be helpful in the academic field as it would be an addition to the issue of covid-19 and its effects on unemployment.
This study will be helpful to Lagos state Government and governments of other states in Nigeria in creating awareness of the effects of overpopulation and on how to diffuse the population properly.
This study will examine the effect of corruption in government agency on the economic growth and development of Nigeria.
This study will be helpful to organizations in creating awareness on the effects of relying only on corp members on other unemployed youths.
This study is of significance to the government as it will serve as a guide in implementing effective measures to curtail crimes and insecurity as it find means of solving the motorcycle and tricycle ban.
This study is significant as it provides an opportunity to hear Nigerian women's perspectives on their access (or lack thereof) to education and the hurdles that prevent them from participating in it.
This topic is critical to assisting policymakers in making decisions about how to allocate public funds. Future academics will be able to use these findings to learn more about the relationship between government agriculture spending and economic gro...
The government of Nigeria, students, and the general public will benefit from this study. Nigeria's ability to relieve poverty is contingent on adequate inflows of foreign investment funds and a secure investment environment.
This study it gives actual information on the current condition of government spending management and accountability.
Message Us on WhatsApp »
