·  What has been the experience of the Central Bank of Nigeria in the development process? ·  What are the challenges and constraints facing the Bank in the process? In discussing these issues, my focus will be on the experience of the Central Bank of Nigeria, in the context of international best practices. II.
The role of the Central Bank and monetary policy in the development process  The pursuit of price stability has come to be regarded as the raison d’etre of central banks in recent times.