Legal and Institutional Framework Regulating Public Offering of Securities in the Nigerian Capital Market
Legal and Institutional Framework Regulating Public Offering of Securities in the Nigerian Capital Market
Abstract of Legal and Institutional Framework Regulating Public Offering of Securities in the Nigerian Capital Market
A nation’s financial system is made up of the Money Market, Capital Market and the Insurance Market. While Central Bank of Nigeria serves as the apex regulatory organization of the Nigerian Money Market, the Securities and Exchange Commission (SEC) is the apex regulatory body of the Nigerian Capital Market, while the National Insurance Commission (NAICOM) regulates the Insurance Sector. Capital Market, in simple terms, is a market for raising long-term funds. It is that segment of the financial market which represents the intricate intermediation functions and processes of a network of individuals, institutions and financial instruments between the users and providers of long-term funds are mobilized and channeled into productive investments by the issuance of equities and interest bearing securities. The market also provides a