Impact Of Non-Bank Financial Intermediaries In Economic Development In Nigeria:- Isiofia, Blessing

ABSTRACT

The main goal of the government in Nigeria since independence has been to accelerate the country’s economic development with increased capital ‘ accumulation and investment. Banks are so prominent in the Nigerian economy that non-bank financial institutions (NBFIs) are hardly noticed.- It is against this background that this study sets out to investigate the impact of NBFI’s in economic growth in Nigeria ; To assess the 'impact of NBFI’s on the economy the study used secondary data obtained from CBN statistical bulletin and national bureau of statistics. Regression analyses were used to analyze data and test hypothesis. Findings indicate that there is no significant relationship existing between NBFI’s credit and GDP. In other to improve on this, fill up structural gaps and utilize their latent potentials, it was recommended that NBFI’s, should be made more relevant by channeling their mobilized funds. Into productive activities .