INTERNATIONALIZATION OF THE NIGERIAN STOCK EXCHANCE MARKET AND THE REGULATORY FRAME WORK

INTERNATIONALIZATION OF THE NIGERIAN STOCK EXCHANCE MARKET AND THE REGULATORY FRAME WORK

 

ABSTRACT

Internationalization of Stock Exchange is an inevitable fact of the global securities. Therefore any nation wishing to be truly global player would be left with no alternative than to internationalize. Decree Nos. 16 and 17 of 1995 of the Nigerian Government gave power to the subject. To internationalized, we need Foreign investment in our great country. The project identified some problem relating to the political economy of Nigeria particularly in the Finance Sector. The Nigerian Economy has been in prolonged state of recession since the era of 1980s. A series of the ad-hoc reform measures cultivated in the introduction of structural adjustment programme (SAP) in 1996 by the Federal Government. The Economy was suffered due to poor management of some past leaders through looting the government treasury. But debt, both domestic and external running in billions of Naira, IMF loan accumulated. It was discovered that Nigeria was rated the worst nation in terms of transparency under the following areas: • Fiscal and monetary transparency • Banking Transparency • Corruption accounting • Custody and settlement vi However, the above problem could be a propaganda from the western countries. It was found out that the performance of the Nigeria Stock Exchange globally is progressive as Nigeria was rated the first nation (in the emergency market) in terms of market capitalization of other IFCG index stocks in 1995 42.2% and considering the inflows of foreign investment of about USS 256 billion naira as at 1996. Finally, it was recommended that: • Privatization and commercialization programme be implemented by the Government to encourage foreign inflow (investment). a The operators should apply the Decrees No. 16 and 17 strictly as per Government policy.

TABLE OF CONTENT

Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi

CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10

CHAPTER TWO

LITERATURE REVIEW – – – – – – -11

CHAPTER THREE

Research methodology – – – – – – -39
Design of study – – – – – – – -40

CHAPTER FOUR

Presentation, analysis and interpretation of data – -48

CHAPTER FIVE

Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69

INTERNATIONALIZATION OF THE NIGERIAN STOCK EXCHANCE MARKET AND THE REGULATORY FRAME WORK

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