Monetary Policy Transmission Paths and Money Supply in Sub-Saharan Africa: Evidence from Nigeria and Ghana

The main objective of this study gears towards evaluating monetary policy transmission paths and money supply in Sub- Saharan Africa: evidence from Nigeria Ghana from1981- 2018. Central Bank Nigeria, World Bank, Development Indicator 2018 furnished us with the data used for analysis. This explored three different channels: interest rate, credit asset pricing channels these variables were regressed on both countries using Auto Regressive Distributed Lag (ARDL) Model estimation technique. also employed other diagnostic tests such as: Normality, correlation test, Heteroskedasticity test Breusch-Godfrey Serial Correlation LM they confirmed validity reliability model employed. inferential results revealed that to private sector had positive significant impact but lending rate two impacted insignificantly supply. concludes more robust impacting than Ghana. As such, recommends authorities need formulate stringent policies will reduce circulation outside financial systems there should be a synergy between fiscal economies so as aid instruments macroeconomic achieve their objectives.