The Nigerian capital market: Development, Issues and policies

Abstract

The Nigerian Capital Market. Developments, Issues and Policies, is an excursion into the growth and expansion of the capital market in Nigeria. From its cradle in 1960, the stock market has undergone significant metamorphosis resulting sometimes in remarkable growth and at other times in noticeable bruises. In several instances, government policies, through the Federal Ministry of Finance and the Central Bank of Nigeria, have affected or determined the internal dynamics of the body. Consequently, its target objectives in the development process have only achieved limited success until recently. Nevertheless, the presence and development of the stock market in Nigeria is, no doubt, a great catalyst to the internationalisation of investment opportunities in the country, raising the chances of both local and foreign direct investment (FDI), as well as portfolio investment, especially at a time when the money market is almost always in crisis, financially. The fall-outs of the...