Research Article
THE ROLE OF PUBLIC ADMINISTRATION IN CURRENCY MANAGEMENT UNDER CAPITALISM IN NIGERIA
1 Department of Public Administration, University of Calabar, Nigeria
2 Department of Hospitality and Tourism Management, University of Calabar, Nigeria
Abstract
This study investigates the role of public administration in the management of Nigeria’s currency within the framework of a capitalist economic system. Since the adoption of the Structural Adjustment Programme in 1986, successive Nigerian governments have pursued market-oriented policies that place considerable responsibility on public institutions, particularly the Central Bank of Nigeria and the Federal Ministry of Finance, for maintaining monetary stability and managing the exchange rate. Drawing on both secondary literature and primary data collected from 150 respondents through a structured questionnaire, the research examines institutional capacity, policy effectiveness, and the administrative constraints that shape currency administration. The findings reveal that while public institutions are widely recognised as central actors in policy formulation and implementation, their performance is significantly constrained by political interference, policy inconsistency, weak inter-agency coordination, limited technical capacity, and corruption. The study concludes that the success of currency management under capitalism depends not only on the design of market-oriented policies but also on the quality, autonomy, and integrity of the public institutions charged with implementing them. Strengthening bureaucratic insulation, improving policy coherence, and investing in technical capacity are therefore essential for more effective currency administration in Nigeria.
Keywords: Public Administration, Currency Management, Capitalism, Central Bank of Nigeria, Monetary Policy, Exchange Rate, Institutional Capacity.
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