The Nigerian financial markets: growth, performance, appraisal and prospects

Abstract

The purpose of the paper is to evaluate the growth and performance of the financial markets in Nigeda in relation to the achievement of basic objectives. The Central Bank has nurtured both money and capital markets, while various government policy measures were instrumental to their promotion. The main finding was that while the markets have provided facilities for the retention of funds in the economy, they still lack in depth and breadth. The money market has been very active in the mobilization of funds for the Federal Government while the on- going Structural Adjustment Programme, adopted in 1986, has engendered keen competition among the financial institutions for customers' deposits and bankable projects.