The long-anticipated removal and upward review of the five per cent share-price movement cap (appreciation or depreciation) at the Nigerian Stock Exchange (NSE) may not be implemented soon, BusinessWorld can reveal. Consequently, prices of stocks listed on the NSE will continue to either rise or fall by a maximum of five per cent as against the ten per cent that has been advocated by stakeholders in the capital market since the commencement of the market meltdown.
Unfortunately, the five per cent cap will remain against the wishes of some stakeholders just to guard against the rascality of stockbrokers who can capitalise on the move for selfish gains.  It would be recalled that at the peak of the capital market crisis, stakeholders have called for the removal of the five per cent capping of share-price movement in the belief that it will stimulate market growth and liquidity and help to bring some measure of stability back to the market.  However, where a segment of market stakeholders called for the capping of share price, another segment argued that it is better to cap the index on the grounds that it would be easier to check the index than individual share prices.
They noted that allowing the ten per cent cap will lead to another crash of the market. An analyst said that: “With the way things are done by stockbrokers, if the five per cent cap is removed, they (stockbrokers) will just crash the market.”