Full Project – THE ROLE OF STOKE BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA
Click here to Get this Complete Project Chapter 1-5
INTRODUCTION
In any economy there is a financial system that is responsible for regulating the financial environment of the society determining the types and use of funds to be issued, source of funds to be put. The financial system is really made up of two major markets, namely money and capital stock market. The many market is the market for short term funds and securities including treasury bills, treasury certificate negligence of deposits, commercial paper and other funds of which are less than a year duration.
Thus the aim of the regulating bodies composed of Nigerian stock exchange commission (SEC) is to promote development of orderly capital market to have authority over its members (stock broking firms) to whom it set rules of ethics are made to guide their professional behaviour in the course of carrying out its functions and create awareness of the general public. Stocks exist to enable companies in need of long term financing to sell pieces of the business stock equity securities in exchange for cash. This is the principal method of raising business capital other than issuing bonds. When the stocks of these corporations, which all which corporations must issue, are owned by the public at large, including both private investors and institutions, they are said to be publicly held. These publicly held shares can be easily traded (sold) to other investors in the stock market and are thus said to be liquid, or readily conversed to cash. Stock breakage firms usually, serve as intermediaries in the transactions, buying the new securities at wholesale prices from the issuer and then reselling them to the investing public at retail prices
1.1 HISTORICAL DEVELOPMENT OF CASE STUDY IN NIGERIA STOCK EXCHANGE
The dealing members of the Nigeria stock exchange are institutions who are licensed by the exchange as stockbrokers to buy and sell securities quoted on the exchange on behalf of the investing public.
In 1960, Nigeria stock Exchange was established with branch in Kaduna in 1978. Prior to the establishment of the Nigeria stock exchange the were not equipped enough with the information of stock broking and its importance to an individual, groups, organizations and global economic development.
In essence the awareness was low but from 1936 to date a considerable number of stock broking firms sprang up in Nigeria and in Kaduna particularly the first stock broking firm served as an eye opener to investors and the potential ones, with a highly experienced board and a crop of seasoned and dedicated professionals positioned to tackle the challenges of this new millennium. The branch is situated in Kaduna to exploit the immense untapped natural resources and economic potentials of the country in general.
There are today 226 dealing members of the Nigeria stock exchange. Many of them are affiliates of bank and other reportable financials institutions. Dealing members of Nigeria stock exchange can now accommodate foreign shareholders in their equity capital or go into any form of partnership with foreign stock brokerage firms.
Application from foreign stock brokers as members of the nigeran stock exchange can now be enter anted within the rules and regulations of the inorganic stock exhcnage, as well as registration with securities and exchange commission and corporate afiars commission following the abrogation of the exchange control Act 1962 and Nigeria promotion Decree of 1982 as stated in the Nigerian stock exchange fact exchange book 2004 page 334.
Finally, the existence of stock broking firms as members of Nigeria stock exchange has helped to create a wealthy tomorrow for clients and increase the wealth of shareholders and job creation for the unemployed.
1.2 STATEMENT OF PROBLEM.
Capital market are generally expected to produce the institutional arrangement through which funds from the surplus sector of the economy. The allocation of funds are mainly for industrial, commercial and agricultural development. The capital market growth rate is very slow and not developing to meet the international standard. There is lack of awareness on the part of the public and potential investors.
Poor management for the operation and affairs of a business is one the major factors leading to incompetence, inefficiency and dishonesty in managing organization in Nigeria and in the global which has not been in the best interest of the shareholders and the general public. However, the need in that over-centralization of the stock exchange which might not bring the benefit of market operation nearer to a greater section of the countryâ’s citizenry and this will not enhance the particularly of the market function.
Dishonesty from both the stock broking firms and the investors are among the general problems facing stock shares investment in the country and the world at large. However, the need in that of over centralization of stock exchange which might not bring the benefit of market operation nearer to a greater section of the country citizenry and this will not enhance the performance of the market functions.
1.3 HYPOTHESIS TESTED
Hypothesis is a tentative proposition suggested as a solution to a problem or an explanation of phenomenon. It is also a set of generalized statement concerning the problem under study.
The formulation of which led to the structuring of questionnaires to assess the validity of the hypothesis by sampling various of stock brokers and customers of firms in Kaduna stock exchange.
The hypothesis is given below (1) Ho that there are inefficient stock marketing services  from stock broking firms to the development of a meaningful economy (2) Hi that there are efficient stock marketing services from stock broking firms to the development of a meaningful economy.
1.4 AIMS AND OBJECTIVES OF THE STUDY
The aim of this research is to undertake incentive investigation and to highlight the role stock broking firms have played in the development of Nigerian economy. To determine whether or not there are lapses in their contributions to the economy growth, however, in the event of any lapses suggestion which be made. The primary objectives of the research are to a basis for contribution to the development of Nigerian economy. And to provide a material for further studies.
Get the Complete Project
This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.
Click here to Get this Complete Project Chapter 1-5
You can also check other Research Project here:
- Accounting Research Project
- Adult Education
- Agricultural Science
- Banking & Finance
- Biblical Theology & CRS
- Biblical Theology and CRS
- Biology Education
- Business Administration
- Computer Engineering Project
- Computer Science 2
- Criminology Research Project
- Early Childhood Education
- Economic Education
- Education Research Project
- Educational Administration and Planning Research Project
- English
- English Education
- Entrepreneurship
- Environmental Sciences Research Project
- Guidance and Counselling Research Project
- History Education
- Human Kinetics and Health Education
- Management
- Maritime and Transportation
- Marketing
- Marketing Research Project 2
- Mass Communication
- Mathematics Education
- Medical Biochemistry Project
- Organizational Behaviour
- Political Science
- Psychology
- Public Administration
- Public Health Research Project
- More Research Project
- Transportation Management
- Nursing
Full Project – THE ROLE OF STOKE BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA