Nigeria Stock Exchange

was founded in the year 1960 as the Lagos Stock Exchange with 19 securities listed for trading. Right now there are 262 securities listed on The Exchange, produced up of 11 Government Stocks, 49 Industrial Loan (Debenture/Preference) Stocks and 194 Equity / Ordinary Shares of Companies.
The Nigeria Stock Exchange took on its present name in 1977 as by then the Stock Market already had branches in the most important organization centers of the nation. The six branches of The Nigeria Stock Exchange are :

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Lagos opened in 1961

Kaduna opened in 1978

Port Harcourt opened in 1980

Kano opened in 1989

Onitsha opened in February 1990

Ibadan opened in August 1990

Abuja opened in October 1999

Yola opened in April 2002.

Lagos even so remained the headquarters of the Nigeria Stock Exchange.
The enterprise of trading in Market place is carried out for the duration of the weekdays from 11 o’ clock in the morning to 1 o’ clock in the afternoon neighborhood time. The goods, which are kept as safety although trading are, corporate bonds, shares and government bonds. The trading of shares and bonds are done by the stock brokers in big halls by shouting out loud or by producing cellphone calls which every branch getting its personal trading hall. The Nigeria Stock Exchange now utilizes an Automated Trading Program which tends to make trading easier, quicker and safer.

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The was started out with a small capital and in the year 1997 the capital went up to a total of about $ three billion. Nigeria Stock Exchange has been one of the most successful businesses in Nigeria.

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The All-Share Index (AMI) is the stock marketplace index of the Nigeria Stock Exchange which for its calculation utilizes only common stocks (ordinary shares), was developed in 1984.
Its market capitalisation was 5.12trillion naira at the finish of 2006 compared to two.9trillion the previous year.
Costs of new issues are determined by issuing homes/stockbrokers, whilst on the secondary marketplace rates are created by stockbrokers only. The market/quote rates, along with the All-Share Index, are published daily in The Stock Exchange Day-to-day Official List, The Nigerian Stock Exchange CAPNET (an intranet facility), The Nigerian Stock Exchange site (www.nigerianstockexchange.com), , Newspapers and on the stock marketplace page of the Reuters Electronic Contributor System.
In order to encourage foreign investment in Nigeria, the government has abolished legislation stopping the flow of foreign capital into the nation. This has allowed foreign brokers to enlist as dealers on the Nigeria Stock Exchange and investors of any nationality are free to invest. Nigerian firms are also allowed several and cross border listings on foreign markets.
In the quest of attaining world standard in stock marketing, became member of the FIBV or “Federation of International Stock Exchange”. Also with the present battle for fraud and corruption, public trust in the Nigeria stock market place has grown tremendously, with about 3 million individual investors and hundreds of institutional investors (such as foreigners who very own about 47% of the quoted businesses) utilizing the facilities of The Nigeria Stock Exchange. The Nigeria Stock Exchange’s 39-year history is devoid of any fraud, shocks, scandals or insider dealings.
The body that governs the Nigeria Stock Exchange is the Securities and Exchange Commission (SEC).
Clearing, Settlement and Delivery of transactions on The Nigeria Stock Exchange are carried out electronically by the , a subsidiary of The Nigeria Stock Exchange. The CSCS Limited (“the Clearing House”) was incorporated in 1992 as part of the work to make the Nigeria stock industry far more effective and investor-friendly. Apart from clearing, settlement and delivery, the CSCS Restricted provides custodian services.
Charges included in all transactions are a 3% commission on the traded value of shares and a 1% Securities and Exchange Commission charge. Withholding tax on dividend and interest remains at ten% corporate income tax, 35%, capital gains tax, ten%.
The Nigeria Stock exchange is presently headed by a Director-Common in the individual of Dr Mrs Ndi Okereke-onyiuke.
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Nigerian Stocks, Nigerian stock exchange, Investing in Nigeria

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