The currency of any independent country which is the legal tender symbolizes its nationhood. That is what the Naira and Kobo mean to Nigeria. But over the years, they have been subjected to different forms of abuses including mutilations, defacing and even outright sale in open markets. Often times, the currencies-Naira notes and coins-are conspicuously displayed for sale in such unholy places as motor parks, party venues, event centres etc.

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).

Standard bank group limited has increased profit for the 2011 financial year by 22 per cent, after the company cut costs and increased lending.

Generally speaking, it is never the numbers or figures that make the equities transaction market work but the people involved in the market make it work. Market makers are high networth folks who can put their resources together and push-up the capital market. Stock markets are not non-profit organizations staffed by social workers paid by the government to provide a public service. Brokers, specialists, and market makers don’t participate in the markets for their health. They trade only when they expect to make profits. Those profits are the price that investors and other traders pay in order to execute their orders when they want to trade. 

International Financial Reporting Standards (IFRS) represent a major change for the organisation. Change in not only the reporting of the financial results, but also changes in internal systems, business processes, performance management, external communication and more. Nigerian companies will begin reporting under IFRS standards as of January 1, 2012.

Development is the objective of every rational human being on earth and one of the cardinal goals of human existence. It includes among others sustainable improvement that yields the highest possible level of satisfaction and fulfillment as a person and a nation in general. In this piece, KAYODE OGUNWALE takes a look at the role of the capital market in the economic development of Nigeria.

The Debt Management Office (DMO) recently organised a retreat for financial journalists in Kaduna to intimate them of the activities of the office and the management of the nation’s debt .

THE management of Access Bank Plc, last week, notified the Nigerian Stock Exchange (NSE) of its intentions to completely divest from its non-banking subsidiaries, United Securities Limited and Access Investments and Securities Limited and integrate the operations of its Mortgage Banking subsidiary, Access Homes and Mortgages Limited into its Retail Banking Division.