The Nigerian capital market regulation

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Periodical article

Title:	The Nigerian capital market regulation
Author:	Oladele, O.O.
Year:	2005
Periodical:	Lesotho Law Journal: A Journal of Law and Development
Volume:	15
Issue:	1
Pages:	141-170
Language:	English
Geographic term:	Nigeria
Subjects:	financial market legislation
Abstract:	The principal statute that regulates the Nigerian capital market is the Investment and Securities Act of 1999. This Act has reestablished the Securities and Exchange Commission as the regulatory apex organization of the capital market. It also makes extensive provision to regulate dealings in securities and market participants. The stock exchange, a major institution of the capital market and a self-regulatory organization, also regulates the market and is in turn regulated by the Securities and Exchange Commission. The Central Bank of Nigeria has facilitated the development of the capital market and cooperates with the Commission to regulate the market and the self-regulatory organizations. After outlining the evolution of the Nigerian capital market and its regulatory structure and evaluating the current structure for regulating the market as well as for settling disputes among the market participants, the author offers suggestions for a more effective regulation of the market to enable it to cope with new challenges. Notes, ref. [ASC Leiden abstract]