Brief Introduction

One of the oldest institutions in the Nigeria Capital Market is the Nigeria Stock Exchange, trading in Lagos, Onitsha, Uyo, Ibadan, and Port-Harcourt each floor or branch of the exchange has a Director and a Secretary. The national secretariat has a Director-General and consists of three departments. The quotations department, the Administration, and the Public Relation department.

The exchange is an institution where quoted investments (stocks and shares) are bought and sold. It provides a market in a wide range of traded securities generally a medium to long term maturity issued by companies, government, and public organizations both domestic and overseas.

The organization is categorized as both primary market and secondary market. securities are in the first instance purchased by individuals and institutions who then resell them on the trading floor provided these securities are listed securities in the secondary market. Each branch of the exchange has a council (Branch council), consisting of some prominent individuals and also representatives of stockbroking firms, as members of the branch council.

The structure of the Nigeria Stock Exchange provides for representation of each branch council at the national council. The national provides all overall direction for the exchange.

In addition to providing a market for the primary issuance of securities and for their subsequent exchange, the exchange performs the vital function of maintaining orderliness in the markets.

The development of the capital market in Nigeria dated back to 1946 before political independence when the first government securities were floated. There was a perceived need within the financial and business community for the development of money and capital market in Nigeria.

The capital market is the framework of institutions that arrange for long-term financial assets such as shares and mortgages. Since the world will never be made up solely of wealthy philanthropists and charitable organizations, the demand for capital will always exceed the supply.

Membership of the exchange is open to limited companies partnership and in some cases individual of high repute and integrity who has made valuable contributions to the development of the Nigeria Capital Market. Stockbrokers who are dealing members of the exchange function primary as agents on behalf of their clients.

Table of Content

TITLE PAGE
DEDICATION
CERTIFICATION
ACKNOWLEDGEMENT
ABSTRACT
TABLE OF CONTENT

CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
1.2 OBJECTIVES OF THE STUDY
1.3 SIGNIFICANCE OF THE STUDY
1.4 SCOPE OF THE STUDY
1.5 DEFINITION OF TEARS

CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 THE NIGERIA CAPITAL MARKET
2.2 THE OPERATORS OF THE CAPITAL MARKET
2.3 OBSERVATION ON THE NIGERIA CAPITAL MARKET
2.4 MEMBERSHIP OF THE EXCHANGE
2.5 DEALING MEMBERS OF THE NIGERIA STOCK EXCHANGE
2.6 FUNCTIONS OF THE STOCKBROKER

CHAPTER THREE
3.1 RESEARCH METHODOLOGY
3.2 SECONDARY DATA
3.3 METHOD OF DATA COLLECTION
3.4 INTERVIEWED METHOD
3.5 HISTORY OF NIGERIA STOCK EXCHANGE
3.6 OPERATION OF THE NIGERIA STOCK EXCHANGE
3.7 PRICING OF THE NIGERIA STOCK EXCHANGE
3.8 REGULATION OF THE NIGERIA STOCK EXCHANGE
3.9 THE ALL–SHARE INDEX

CHAPTER FOUR
4.1 DATA ANALYSIS AND INTERPRETATION

CHAPTER FIVE
5.1 SUMMARY
5.2 CONCLUSION
5.3 RECOMMENDATION FOR SOLVING THE PROBLEMS
BIBLIOGRAPHY