{"id":22365,"date":"2025-06-04T14:04:38","date_gmt":"2025-06-04T14:04:38","guid":{"rendered":"https:\/\/journals.amssr.org\/grjbm\/?p=22365"},"modified":"2025-06-04T14:11:12","modified_gmt":"2025-06-04T14:11:12","slug":"effect-of-insurance-of-cryptocurrency-based-businesses-on-nigerias-economic-growth-2019-2024","status":"publish","type":"post","link":"https:\/\/journals.amssr.org\/grjbm\/2025\/06\/04\/effect-of-insurance-of-cryptocurrency-based-businesses-on-nigerias-economic-growth-2019-2024\/","title":{"rendered":"Effect of Insurance of Cryptocurrency-based businesses on Nigeria\u2019s Economic Growth, 2019-2024"},"content":{"rendered":"\n

Full-text PDF Download<\/h2>\n\n\n\n
<\/object>Effect of Insurance of Cryptocurrency-based businesses on Nigeria\u2019s Economic Growth, 2019-2024 GRJ AMSSRN<\/a>Download<\/a><\/div>\n\n\n\n

Authors<\/h2>\n\n\n\n

Okparaka, Vincent Chukwuka (Ph.D.) 1<\/sup>; Udeji, Banabas Uchenna 2<\/sup>; Sir Henry Obi Ofordile, Ph.D. 3<\/sup><\/p>\n\n\n\n

1 & 2 <\/sup><\/em>Department of Insurance and Risk Management<\/em><\/p>\n\n\n\n

Enugu State University of Science and Technology, ESUT, Nigeria.<\/em><\/p>\n\n\n\n

3 <\/sup><\/em>Coal City University, Enugu, Nigeria.<\/em><\/p>\n\n\n\n

1 <\/sup><\/em>vincent.okparaka@esut.edu.ng<\/em><\/a>, 08035985711<\/em><\/p>\n\n\n\n

2 <\/sup><\/em>09121399483<\/em>
<\/em>3 <\/sup><\/em>08037622558<\/em><\/p>\n\n\n\n

Abstract<\/strong><\/h2>\n\n\n\n

Research Objective: <\/strong>The study examined the effect of crypto currency insurance business on Nigeria economic growth. Specific objectives were to: examine the effect of Bitcoin on gross domestic product (GDP) in Nigeria and investigate the effect of Ethereum on gross domestic product (GDP) in Nigeria. <\/p>\n\n\n\n

Methodology: <\/strong>Ex post<\/em> facto research design was adopted. Study used secondary data of time series covering a period of 6 years i.e. 2019 \u2013 2024, which was obtained from the Central Bank of Nigeria (CBN) statistical bulletin. The study adopted descriptive statistics, correlation test, unit root test and Auto Regressive Distributed Lag Model regression technique in testing hypotheses.
Findings:<\/strong> Bitcon had a negative and non significant effect on gross domestic product (GDP) in Nigeria (coefficient value of -0.336452, pv>0.05) and Ethereum had a positive and non significant effect on gross domestic product (GDP) in Nigeria (coefficient value of 0.037052, pv>0.05).
Conclusion: <\/strong>Insurance of Crypto currency businesses had non significant effect on gross domestic product (GDP) in Nigeria. <\/p>\n\n\n\n

Recommendation: <\/strong>Government of Nigeria in conjunction with regulatory agencies in the country should regulate the adoption of crypto currency known as Bitcon as individual ways of conducting businesses.<\/p>\n\n\n\n

<\/em><\/strong>Key words: <\/em><\/strong>Crypto currency, Gross Domestic Product (GDP), Bitcoin, Ethereum.<\/em><\/p>\n\n\n\n

References<\/strong><\/h2>\n\n\n\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

Full-text PDF Download Authors Okparaka, Vincent Chukwuka (Ph.D.) 1; Udeji, Banabas Uchenna 2; Sir Henry Obi Ofordile, Ph.D. 3 1 & 2 Department of Insurance and Risk Management Enugu State University of Science and Technology, ESUT, Nigeria. 3 Coal City University, Enugu, Nigeria. 1 vincent.okparaka@esut.edu.ng, 08035985711 2 091213994833 08037622558 Abstract Research Objective: The study examined the effect of crypto currency insurance business on Nigeria economic growth. Specific objectives were to: examine the effect of Bitcoin on gross domestic product (GDP) […]<\/p>\n","protected":false},"author":1,"featured_media":21662,"comment_status":"open","ping_status":"0","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,219,220],"tags":[],"class_list":["post-22365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-grjbm","category-volume-5","category-volume-5-issue-1"],"_links":{"self":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/comments?post=22365"}],"version-history":[{"count":1,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22365\/revisions"}],"predecessor-version":[{"id":22367,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22365\/revisions\/22367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/media\/21662"}],"wp:attachment":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/media?parent=22365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/categories?post=22365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/tags?post=22365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}