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Nigeria Stock Exchange was founded in the year 1960 and in the recent ages around 180 companies have come into its listing. The Nigerian stock exchange was started with a small capital and in the year 1997 the capital went up to a total of about $ 3 billion. Nigeria Stock Exchange has been one of the most successful businesses in Nigeria. The first Nigerian stock exchange market was built in Lagos, which is also the prime business center and the second stock exchange forum is in Abuja. Lagos Stock Exchange is one of the members of the FIBV or “Federation of International Stock Exchange”. The stock exchange in Lagos has its own machine driven merchandising system. Foreign investment is highly promoted by the government where foreign investors invest upon local shares of Nigeria. The body that governs the stock exchange of Nigeria is the securities and Exchange commission.
Miscellaneous Information about Stock Exchange of Nigeria
The business of trading in Lagos Stock Exchange Market is conducted during the weekdays from 11 o’ clock in the morning to 1 o’ clock in the afternoon. The goods, which are kept as security while trading are corporate bonds, shares and government bonds. The trading of shares and bonds are done by the stock brokers in large halls by shouting out loud or by making phone calls.