ABSTRACT
The method used in the collection of data for this research
include information gotten from the responses of the questionnaires
distributed. Also there were secondary data which are from books and
magazines.
There was analysis of the table involved. At the end of the
study, some of the finding include that actually a remittance lag
actually exists in the Nigerian financial system and that the fluctuating
exchange rate has an effect on the country’s balance of trade.
The recommendation include that external borrowing by, Nigeria
should be in different currencies so as to offset exchange rate risks.
There was also a recommendation that there should be the
establishment of official help to reduce the variability and increase the
incentives on exchange rates. In conclusion it was adjusted that
Nigeria as a developing country and economy needs to grow and
come out of the menace of chronic balance of payment disequilibrium
which is one of the causes of inflation. This could only be achieved
when there is adequate management of international trade and
payment.
