Peter Arinze

Understanding the Nigerian Stock Exchange Peter Arinze

The constant function of the Nigerian Stock Exchange is to provide market in which securities may be bought and sold and facilitate the raising of money by Government, State and Local Governments, and Public Companies. It is a vast trading floor in the building at the E/4 Customs Street, Lagos, near the Central Bank of Nigeria. It is the nation?s largest Organised Securities market where Exchange member brokers daily buy and sell, for thousands of people, the stocks and bonds of most Nigeria?s leading companies. The Nigerian Stock Exchange has branches in Kaduna, Port-Harcourt, Kano (1989), Onitsha, Ibadan, Abuja, Yola, Benin, Uyo, Ilorin and Abeokuta where daily activities are also taking place. The following legend could well appear beneath its name: Here is where people buy and sell Ownership in Nigerian leading companies. The analysis should be a contribution to new theories of Economic development and some aspects of economic growth, emphasising the role of the Stock Exchange Market in economic development, making use of familiar concept of the production function and supply side problem of the economy.