Contribution of Non-Bank Financial Institutions to Economic Growth of Nigeria (2010-2019)

Authors

  • Dr. Abolade Francis AKINTOLA Department of Finance, Babcock University, Ilishan-Remo, Ogun-State, Nigeria
  • Adeboye Olubukunmi ADESANYA Department of Finance, Babcock University, Ilishan-Remo, Ogun-State, Nigeria

Keywords:

Non-bank financial institutions, financial assets treasury bill and economic growth.

Abstract

The paper investigated contribution of non-bank financial institutions to economic growth of Nigeria from 2010 to 2019. Data used for the study was sourced from Central Bank of Nigeria Statistical Bulletin. Data obtained was analysed using Ordinary Least Square (OLS) method. From the empirical result obtained from the study, non-bank financial institutions in Nigeria by their investment in financial assets and treasury bill had positive and significant effect on gross domestic product (GDP). From the findings of this study, the paper recommends that government should create an enabling environment to promote rapid development of non-bank financial institutions in Nigeria in order to attract investors and improve the asset base of the non-bank financial institutions.

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Published

2022-06-08

How to Cite

Dr. Abolade Francis AKINTOLA, & Adeboye Olubukunmi ADESANYA. (2022). Contribution of Non-Bank Financial Institutions to Economic Growth of Nigeria (2010-2019). International Journal of Recent Innovations in Academic Research, 6(6), 1–8. Retrieved from https://ijriar.com/index.php/ijriar/article/view/419