ABSTRACT

This research work studies the Nigerian money market and economic growth in Nigerian. Emphasizing on the contributions the Nigerian money market has made in the economic growth of the country and indentifying the challenges confronting the money market in Nigeria. This research work having proven that the money market is primary concerned with the raising of new funds which exist as a means of liquidity adjustment in the economy which have been achieved in the growth of the economy. The method used in collecting data for the research is secondary and the data were gotten from central bank of Nigeria annual statistical report and multiple regression was used in testing the hypothesis. From the finding, it was known that the Nigerian money market has contributed significantly to the economic growth of the Nigerian economy. With the present globalization, there is urgent need for the introduce of a more improved payment system to facilitate faster and easier financial transaction as they would moves faster to a cashers global economy. With regard to this, there is need for the money market to faster the development of appropriate technology to deal, with the issue of payments mechanism so as to move the Nigerian economy form a cash and carry economy to one that utilizes cash.