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Introduction

The Nigerian stock exchange market is a highly organized market where investors can buy and sell existing securities like shares, stock, debenture, gilt-edge etc.

This is a market where those who are interested in purchase of securities are brought into contact with the sellers.

This Nigeria stock exchange market is an essential part of the capital market, it serve as a source of raising capital as well as forum for financial investment the market deals with old existing share only ie new ones are not trade in it. The stock exchange market ensure that every transaction must follow prescribed set of rules and regulation which are complex in nature quoted companies are organization whose share are quoted in the stock exchange market, the Nigeria stock exchange market in Lagos with branches across the country.

The Nigeria stock exchange market was established in 1977 through the act of parliament, some of the companies quoted in the Nigeria stock exchange market are Nestle food Nigeria plc, Nigeria Breweries plc, Guinness plc, Union Bank plc, First Bank plc etc.

1:1BACHGROUND OF THE STUDY.

The Nigeria stock exchange market was founded in 1960 as the Lagos stock exchange market, it started operation in Lagos in 1961 with 19(nineteen) companies listed for trading. In December 1977 it became known as the Nigeria stock exchange market, with branches in Nigeria established in some of the country. There are now thirteen(13branches of the Nigerian stock exchange market excluding the head office in Lagos. Each branch has an electronic trading floor, the head office in

Lagos was opened in 1961 Kaduna in 1978, Port-Harcourt in 1980,Kano in 1989, Onitsha february 1990, Ibadan in august 1990, Abuja October 1999, Yola in April 2002, Benin in January 2005, Uyo in 2007 Ilorin in 2008 Owerri in October 2009, and Buachi in 2009.

The Nigeria stock exchange market currently has about 283 listed companies with a total market capitalization of about 125 billion dollars as at the end of 2007. the type of securities trade include industrial loan stock , government bon d and equity or ordinary shares, the implementation of the automated trading system has significantly enhances the trading process and made it easier for ordinary people who struggle with trading technicalities. The central securities clearing system limited was incorporated m as a subsidiary of Nigeria stock exchange in 19992 and some of its responsibilities including clearing,

settlement and delivery of transaction electronically on the Nigeria stock exchange.

The stock exchange market continues to evolve to meet the needs of its valued customers and to achieve the highest level of competitiveness. The Nigeria stock exchange operates fair, orderly and transparent market that brings together the best of Africa enterprises and the local and global investor champion the acceleration of Africans economic development and to become the gateway to African market.