Central Bank of Nigeria (CBN), Research Department
Money market, Nigerian economy
This article reviews arguments on the part of the monetary authorities to promote a money market in Nigeria. It discusses conceptual issues of definition, structure and role of the market, idealising the working of the system under normal conditions. An examination of the evolution of the market in Nigeria is also carried out with a view to ascertaining the extent to which it approximates reality. In the process, both successes and failures of the market are highlighted. The study ends with suggestions as to how the scope of the market could be enlarged to enable it to meet the economic challenges of the times.
Onyido, B. C. (1986). Promoting money market development in Nigeria (1960-1985), CBN Economic and Financial Review, (EFR), 24(1), 53-60.