Federal finance and statistics / Central Bank of Nigeria

Forecasting Nigerian Stock Market Returns using Artificial Neural Network Ensembles

This study constructs ANN based ensembles for modelling and forecasting the monthly Nigerian stock market return process, and comparing the forecast performance of the ensembles. The stock market returns were derived from the monthly stock mar ket All-Share-Indexes, from 1993 to 2023, consisting of 372 data points. Using R-square, RMSE, and TIC as goodness-of-fit measures, and FRMSE and FARV as forecast-error measures, results of the study showed that the ensemble methods gen erally provid | Keywords: ANN, ensemble, forecasting, stock market returns

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Source	Central Bank of Nigeria
Collection	Federal finance and statistics
Kind	Document
Publisher	Central Bank of Nigeria
Date	2026-09-07
Type	document
Found at	https://www.cbn.gov.ng/api/GetAllDocuments
Archived copy	Look it up in the Wayback Machine
Record ID	`cbn:cbn:b1837125cc40b0e4`

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Forecasting Nigerian Stock Market Returns using Artificial Neural Network Ensembles. Central Bank of Nigeria, 2026. Vero Archive, record cbn:cbn:b1837125cc40b0e4.