Nigeria is currently ranked as the world's top 10 remittance destination country with estimated official inflows of about US$10 billion. However, very little is still known about the end-use dynamics of these large inflows into Nigeria. Understanding these dynamics is central to any attempt to minimize the negative effects of migration, while optimizing its development potentials in the country. Using a new dataset involving 697 end-users of remittances collected at money-operating facilities in the country between March 2011 and December 2012, the study finds that the bulk of remittances flowing into Nigeria are primarily used to subsidize households' consumption, education and health expenditures (74.3 per cent). However, intriguingly, when sources are disaggregated, the study finds that remittances originating from within africa are driven by 'pure altruism', whereas those originating from the rest of the world are mostly driven by 'purely selfish' motives.

The paper is borne out of the necessity to create a repository of information on monetary effects of banking crisis with a focus on money demand and inflation. To this end, the paper selectively reviews some empirical studies on money demand and inflation in the face of banking crisis. Overwhelming evidence reveals that money demand does not only increase during banking crisis but is also largely stable. The studies also suggest that long-run cointegrating relationship exists between money demand and its determining variables during banking crisis. However, evidence indicates that banking crisis makes inflation to decline or increase. These pattern of results were evident in developed and developing countries and from different methodologies applied. One policy implication from the survey is that during banking crisis monetary policy would be ineffective. The policy recommendation that can make monetary policy effective is to expand money supply and reduce interest rate for the productive sectors, particularly agricultural and manufacturing sectors.

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