The Financial Market> Capital Market 

The Capital Market Today

The Nigerian Capital Market has undergone a lot of reforms in the last four years. The reforms followed the general concern for a strong and viable capital market as a vehicle for mobilising capital for developmental purposes. Much of this reform has been in the secondary market represented by The Nigerian Stock Exchange (NSE”). The NSE has thus evolved from a local stock exchange established in 1960, when it was known as the Lagos Stock Exchange, to an electronic based internationalised Nigerian Stock Exchange today. There is in place, since 1997, a Central Securities Clearing System (CSCS”) and recently,the Automated Trading System (“ ATS”). Both developments have enhanced the efficiency in stock trading and also made the market more investor- friendly as a result of the apparent honesty and transparency in-built in the system. The operating standards at the NSE are now comparable to what obtains in Europe and America.