Chapter One — 1.1 Background to the Study

Historians have long debated the significance of currency and trade reforms in South-Western Nigeria, though interpretations of its long-term consequences continue to evolve.

The years 1960-1999 represent a formative period for understanding currency and trade reforms in South-Western Nigeria, one that continues to inform present-day scholarship.

1.2 Statement of the Problem

Despite considerable historical scholarship, the precise role of currency and trade reforms in South-Western Nigeria during 1960-1999 remains a subject of ongoing debate, with existing accounts often relying on incomplete or contested source material. This study re-examines the available historical record to offer a clearer account.

1.3 Objectives of the Study

1. To trace the role of currency and trade reforms in South-Western Nigeria during 1960-1999.
2. To examine the factors that shaped currency and trade reforms during this period.
3. To assess the consequences of currency and trade reforms for South-Western Nigeria.
4. To situate these findings within the broader historiography of the period.

1.4 Research Questions

1. What role did currency and trade reforms play in South-Western Nigeria during 1960-1999?
2. What factors shaped currency and trade reforms during this period?
3. What were the consequences of currency and trade reforms for South-Western Nigeria?
4. How do these findings relate to the broader historiography of the period?

1.5 Significance of the Study

This study is significant to historians and students of history and international studies, contributing a focused account of currency and trade reforms in South-Western Nigeria to the existing historiography, and offering a reference point for future comparative or regional studies.

1.6 Scope of the Study

The study is limited chronologically to 1960-1999 and geographically to South-Western Nigeria, reflecting a clearly defined scope; developments outside this period and region fall outside its remit.