Interest Rate Statistics in Nigeria： Its Sampling Techniques and Computational Procedures.pdfVIP

JournalofMathematicsandSysternScience3(2013)625—630 InterestRateStatisticsinNigeria：ItsSampling TeecchhnnIClluueessaannddCoommppuuttaattiioonnaallPPrroocceedduurree,,s AbiolaO．Adeleke StatisticsDepartmenLCentralBankofNigeria，Abuja,Nigeria Received：September25，2013／Accepted：Octorber28，2013／Published：December25，2013 Abstract：Developingnations，likeNigeria，whosefinancialsystemsandinfrastructuralbasearenotyetfullydevelopedfacedata renditionchallengeswhichmayhamperthereDresentativenessoftheirinterestratestatistics．A criticalcomponentofanycredible interestratedatacompilation frameworkrelatesto thesamplingprocedure．InNigeria，noworkhasbeen donewithregardsto employingalternativessamplingtechniquesinthecomputationofinterestratestatisticslargelybecauseofthesmallnumberofdeposit moneybanksinthecountry．Leveragingonexistingliteratureandestablishedstatisticalmethods，thestudyexaminestwosampling techniquesforgeneratingcredibleandreliableinterestratesinNigeria．Thecurrentinterestratecompilationframeworkinthecountry ispresentedandaltemativesamplingprocedureswereexploredwithaviewtoinvestigatingtheirappropriatenessforNigeria’sinterest ratecomputation．Theinterestratesgeneratedbasedonthecurrentpopulation．basedcompilationmethodiscomparedwiththoseofthe alternativeapproaches．ThispaperrecommendstheuseofpurposivesamplingmethodthatcoversDepositMoneyBanks(DMBs) whichaccountforabout70．0percentofthebankingsectortotalassetsasanappropriatealtemative． keywords：Bankingsector，depositmoneybank，electronicdatasubmission 1．IntrOducti0n 1oans． Amongst others，reliable interestrates statistics Interestratestatisticscoverabroadrangeofinterest facilitatetheanalysisofthetransmissionmechanism of ratesthatmonetaryandfinancialinstitutions(MFIs) monetary policy，