About the Nigerian Stock Exchange

According to the Central Intelligence Agency, Nigeria is a country located in West Africa. It is officially called the Federal Republic of Nigeria and is comprised of 36 states and a Federal Capital Territory. The country is defined as an emerging market and its official currency is the Nigerian Naira.

Significance

The Nigerian Stock Exchange is the second largest equities marketplace in Africa. The stock exchange is home to about 260 companies. Most of the companies on the Nigerian Stock Exchange have multinational affiliations.

Size

The Nigerian Stock Exchange is made up of 10 government stocks, 55 industrial loan stocks and 195 ordinary shares of companies. The companies range from agriculture to manufacturing and services.

History

According to MBendi, the Nigerian Stock Exchange was first established in 1960 and the stock exchange is a foundation member of the African Stock Exchanges Association. The exchange encourages foreign investors by abolishing any legislation that would prevent the flow of foreign capital into the country.

Considerations

In December 2009, Thomas Reuters began offering real-time data for the Nigerian Stock Exchange. This development was an acknowledgement of the growing financial markets in Nigeria.

Function

The Nigerian Stock Exchange has an automated trading system. Data for the listed companies are published on a daily, weekly, monthly, and annual basis.

References

• MBendi
• Central Intelligence Agency

Resources

• Nigerian Stock Exchange