Impact of Money Market Instruments on Economic Growth in Nigeria

Money market instruments play a crucial role in the growth and development of Nigerian economy. Still, it is not yet vibrant constrained by absence sub-markets availability adequate credit required for smooth operations market. The study examine impact money (Treasury bill, Treasury certificates, Certificate Deposits, Banker’s Acceptances, Development Stock Commercial Papers) on Economic based secondary data sourced from Central Bank Nigeria (CBN) Statistical Bulletin National Bureau Statistics (NBS) publications 30 years. employed statistical techniques such as ADF, Unit Root Test, OLS, multiple-regression Granger Causality Test to analysis collected covering period 1990-2020. observed that acceptance paper granger cause Gross Domestic Product (GDP). certificate commercial papers have positive relationship with GDP, but its effect insignificant long run. But banker’s deposits has significant GDP In contrast, stock no short run causal GDP. therefore recommends should be reformed line current globalization trend internationalization allow flow foreign investment into economy also increase number tradable