The Nigerian Stock Exchange (NSE) reported on Friday that its All-Share Index crossed to 35,000 marks for the first time after the capital market crashed in 2008.
The index appreciated by 606.95 points or 1.76 per cent to close at 35,109.33 on Friday from the 34,502.38 posted on Thursday.

The Securities and Exchange Commission {SEC}has indefinitely postponed the widely criticized e- dividend date of June 3, 2013, to give room for more enlightenment programme.

Equity transactions on the floor of the Nigerian Stock Exchange (NSE) sustained moderate and cautious bargain drive to extend previous week's gains; riding on value investing along with low-key speculative trading last week.
Further analysis reveals improved risk appetite in the week when compared with previous week's posture as market breadth retuned to green zone in style - This could not be isolated from forbearance packaged announced by the Federal Government in the week.

Arunma Oteh, CEO, SEC. |Oscar Onyema, CEO, NSE.

The idea of recapitalising broking firms in the country has been an issue for a while. But with the recent development, the Securities and Exchange Commission (SEC) is set to expedite action on the issue, writes JIDE AJIA.

Oteh and Onyeama

Some shareholders in the Nigerian capital market have decried the multiple taxation on their investments, saying it was one of the factors affecting the low patronage the market is witnessing. They therefore, called on the federal government to remove the 10 per cent withholding tax charged on dividends.  

Mr. Okechukwu Unegbu, managing director/chief executive officer, Maxifund Investments and Securities Limited, has advised members of the National Assembly not to remove the CBN’s autonomy.

Dr. Ngozi Okonjo-Iweala, minister, finance has said the federal government will release a forbearance or stimulus package to stockbrokers as part of measures to stimulate confidence in the Nigerian capital market and increase liquidity.

The Nigerian Stock Exchange was not the only stock market that was affected by the economic crash that has been obvious since 2006. Other stock exchanges, especially Asian stocks, fell and headed for the first two-day decline recently since January, while the yen strengthened and treasuries rose after data from the U.S. and Europe signaled slowing economic growth. In retreating European equity futures, the MSCI Asia Pacific Index (MXAP) declined to 1.1 per cent as at last week (Wednesday).