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For the growth being experienced on the Nigerian capital market to be sustained, the engine driving it must be oiled continuously. This, no doubt, must be the thought of all market watchers, especially investors which comprises both small and corporate investors whose investment have shown tremendous appreciation within a space of two years, compared to past years transaction in the market. While the sustenance of corporate governance by the operators and regulators have assisted in guiding every operations in the market, the rules and regulations that ought to direct affairs in the market need to be touched by the apex body in the market. The market, from all available statistics, has grown both in transaction volume, market capitalization and the all-share index basis points, when compared to other major exchanges in the world where things have been on the reverse trend. Notwithstanding the growth trend of the market, investors, who are the major drivers of activities in the market are not just having things easy, when services from operators of the market are benchmarked against other markets around the globe. Investors in the market usually have a lot to brain storm over in terms of delay in certificate after companies’ public offer, slow verification of share certificate and lack of adequate services from both the stock broking firms and company registrars. The noise generated by the ugly scenario in the market cannot be quantified to the extent that at almost all event on the Nigerian Stock Exchange, the director general, Prof. Ndi Okereke-Onyiuke, always sound it loud and clear that operators in the market must jettison any action that may have adverse effect on the market. Okereke-Onyiuke’s announcement came on the heels of heightening complaints over unpleasant experiences by some shareholders. Some of the shareholders, who spoke to Nigerian Tribune on condition of anonymity complained that they had been kept on queue for over 18 months while waiting for their shares certificates to be released and verified. So, penultimate week, SEC issued a directive, threatening to suspend trading in shares of companies that unnecessarily delay issuance of certificates on public offers and return/surplus monies |
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