NDIC Quarterly September-December 2017 Vol. 32 No. 3 & 4

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Nigeria Deposit Insurance Corporation (NDIC)

Review of developments in banking and finance for Q3 and Q4 2017; Financial condition and performance of DMBs for Q3 and Q4 2017; Mobile money and monetary policy in Nigeria; The effects of oil price volatility on selected banking stock prices in Nigeria.

During the two quarters under review, the Nigerian economy recorded positive GDP growth rate of 1.40% in Q3 having exited recession in the Q2, 2017 and for the 3rd consecutive quarter, the GDP further grew by 1.92% in Q4 2017. The improvement was as a result of interventions of the Central Bank of Nigeria (CBN) and other regulators. The developments included the introduction of the Investors and Exporter’s (I&E) Forex Exchange window by the CBN, increased crude oil production and oil price appreciation, decline in inflation rate, increased foreign exchange reserves position, amongst others.