Nigerian Capital Market

The Ngerian capital market was born in 1946 with issuance of Nigerian first development loan stock and it achieved maturity with the establishment of the Lagos stock exchange in 1960 in order to mobilize fund for  economy development ,a capital issuance committee was established in 1962 and upgraded to capital issuance commission in 1979 when the security and exchange commission (SEC) promulgated .With the success so far achieved and the need to expand capital market further ,the second Tier security market (SSM) was established in 1985 .The decree was re-enacted in 1988 as security and exchange commission decree number 29 so as to make provision for developing the capital market and also for potential investors .

The stock exchange decree of 1988 was replaced with the investment security act (ISA) no.45 of 1999 to provide a more effective and valuable capital market .The SEC decree of 1988 was replaced with investment security act(ISA) no.45 of 1999 to provide effective and valuable capital market that could meet economic Nigerian needs better .The ISA for 1999  re -established the securities and exchange commission (SEC) as body corporate with perpetual successor with common seal that can sue and be sued in it corporate name.