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This study examined the impact of monetary policy and trade liberalization on output growth in Nigeria from 1989 to 2020. The study was analyzed using; descriptive statistics, unit root test, co-integration test using the fully modified least squares (FMOLS) method, and granger causality test was used to verify a unidirectional and bidirectional relationship among the variables used. The results showed that a unit change in import will decrease the growth rate of the economy (RGDP) by 0.05 percent with a p value greater than 1 percent, 5 percent and 10 percent level of significance and a percentage increase in IMP, FDI, RER and INF rate will cause a decrease in growth rate by the value of the coefficients, which shows that exchange rate has a negative impact on import and inflation affects foreign direct investment. The study recommends that, there should be adequate and result oriented instruments in the monetary policies (like the direct control of credit and stable exchange rate) adopted at any given time by the government to enhance trade liberalization and output growth.

Keywords: monetary policy, trade liberalization, output growth

JEL Classification : E52, F19, G18

This paper examines the effects of financial technology on banking the unbanked in Nigeria. To measure the financial technology, the study used point of sale machine, automated teller machine, mobile banking device and web banking device, while total deposit to gross domestic product was used as a proxy for banking the unbanked. The study employed time series financial methodology to collect quarterly data for the period 2009 –2020 from Central Bank of Nigeria statistical bulletin 2021. Granger Causality Test was used to analyze the data. The results showed that banking the unbanked causes the number of ATMs to increase because an increase in the number of ATMs will make financial services more accessible to a broader range of people. This shows that more ATMs are positively correlated with higher financial inclusion. Only one-way causality exists between mobile banking transactions and banking the unbanked. Mobile banking transaction causes banking the unbanked because an increase in the use of mobile money technologies allows people to conduct financial transactions more efficiently, as they do not have to travel long distances to banks and exchange offices to carry out transactions. This indicates that the relationship between mobile banking technology and financial inclusion is positive. This indicates that the more people use mobile technology to conduct financial transactions, the higher the level of banking the unbanked. Based on these findings, the study concludes that financial technology is critical factors that influence the level of banking the unbanked in Nigeria. The study recommends that the Central Bank of Nigeria should make uniform the cost of accessing digital financial service and effort should be made to increase internet access, especially in rural areas where the infrastructure is not well developed.

Keywords: Banking the Unbanked, Financial Technology, Point of sales machine, Automated teller machine, mobile banking technology, web banking technology.

Risk plays a significant role in uncertainty and the possibility of losing, both of which can happen in every business transaction, at any place and at any time. Credit risk is the potential loss of assets or income that could occur if a borrower is unable to comply with the conditions of a loan agreement with the bank or otherwise carry out as agreed. According to the credit risk theory, the lender is largely at risk, which includes lost principal and interest. A bank that is insolvent may be unable to repay a depositor’s money, for example, leading to a disruption loss that might be either full or partial. The study’s major goal was to investigate the idea of credit risk as it applies to banks and to comprehend how it may be handled to prevent bank failure. Information from original journal papers that investigated the connection between credit risk and commercial banks’ performance was gathered to fulfill the main purpose. According to the assessment, credit risk is more dangerous for banks if it is improperly managed, so efficient solutions should be used to lessen the impact of credit risk on banks.

Keywords: risk, credit risk, credit risk management

This study’s major goal was to find out how Nigeria’s contributory pension system affected the country’s economic growth. The National Pension Commission Annual Report and the Central Bank Statistics Bulletin were used to collect the data for this ex-post-facto study’s analysis. A model was developed based on empirical and theoretical reviews to accomplish this goal. The dependent variable in the model was the Human Development Index, and the independent variables were Private Sector Pension Funds, Public Sector Pension Funds, and Total Pension Funds. The Fully Modified Least Squares (FMOLS) Model was used in this study to examine the data. The results of this study showed that total pension funds, private sector pension funds, and public sector pension funds all had positive and significant effects on the human development index within the parameters of this study, with p-values of 0.0000, 0.0000, and 0.0031, respectively. The inference result led to the conclusion that Nigeria’s economic progress had been positively and significantly impacted by the contributory pension programme. Providing timely pension payments to beneficiaries in the public and private sectors will stimulate economic growth by introducing cash into the economy. The researcher concludes from the foregoing that government should ensure that pension payments are made on time, in accordance with the Pension Reform Act of 2014; if this is accomplished, economic development would be reached through an increase in the citizens’ standard of living.

Keywords: contributory pension scheme, pension reforms, private sector funds, public sector funds, total pension funds, human development index

The study investigated the effect of domestic debt on Nigerian economy. The study utilized a time series data from 1990 to 2018, and adopts among other techniques the Ordinary Least Squares (OLS) test method. A multiple regression model is formulated to ascertain the relationship between the economic growth and debt financing variables. Our findings establish that Domestic Debt and Debt Servicing (DBS) will increase the Real Gross Domestic Product. However, our result with positive coefficients for Domestic Debt (DDB) and Debt Servicing (DBS), indicates that if they are increased, can also increase economic growth. External Debt (EXD) on the other hand exhibited a positive but insignificant relationship with Real Gross Domestic Product (RGDP). This means that government External Debt (EXD) has not contributed to meaningfully to the economy. The study therefore advocate for adequate coordination of the debt financing policy to better the economy. Also government should revive active process in the public sector that will ensure adequate utilization and accountability of borrowed fund.

Keyword: Domestic Debt, Debt Servicing, External Debt, Real Gross Domestic Product.