The Central Bank of Nigeria (CBN) expects to achieve 2.38 per cent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year.
The Deputy Director, Financial Policy and Regulation Department in CBN, Dr Hassan Mahmoud said this in Yola at the 2019 workshop for financial journalists sponsored by the Nigeria Deposit Insurance Corporation (NDIC).
Mahmoud said that the GDP growth target would be an improvement over the third quarter growth rate of 2.28 per cent.
According to him, CBN is, however, creating ways to discourage the trend. Mahmoud commended the permanece of some fixed income instruments in the financial market, saying that their yield rates had improved.
He, however, card that yield rates on treasury bills had dropped to as low as eight per cent of recent. On pension funds, he said the stock had increased to about nine trillion Naira of which the bulk could be invested in non-risky assets.
The News Agency of Nigeria (NAN) reports that his paper was on State of the Nigerian Economy and Implications for Stability of the Banking System.