The historical development; 1946 (development loan stock first issue) 1960; Lagos stock exchange act- 1962, capital issue committee, 1979- capital issue commission - SS3 Commerce Past Questions and Answers - page 1
What was the significance of the development loan stock introduced in 1946?
It established the first stock exchange in Nigeria
It regulated the issuance of securities by companies
It provided a means to raise funds for development projects
It provided a means to raise funds for development projects
What was the purpose of the Lagos Stock Exchange Act enacted in 1960?
To regulate the issuance of securities by companies
To establish a formal stock exchange in Nigeria
To promote fair practices in the capital market
What was the role of the Capital Issue Committee formed in 1962?
To oversee the public offering of shares and debentures
To regulate the issuance of development loan stock
To promote fair practices in the capital market
What was the role of the Capital Issue Committee formed in 1962?
To oversee the public offering of shares and debentures
To regulate the issuance of development loan stock
To supervise international trade and investment activities
What was the purpose of the Capital Issue Commission established in 1979?
To promote fair practices in the capital market
To regulate the issuance of development loan stock
To oversee the public offering of shares and debentures
What did the historical developments in Nigeria's financial system aim to achieve?
To promote economic development and infrastructure projects
To regulate international trade and investment activities
To establish a monopoly in the stock market
To promote economic development and infrastructure projects
What is the significance of the development loan stock introduced in 1946?
The development loan stock provided a means to raise funds specifically for development projects, such as infrastructure and social programs.
Discuss the role of the Capital Issue Commission established in 1979.
The Capital Issue Commission was responsible for overseeing the public offering of shares and debentures, ensuring compliance with regulations, and protecting the interests of investors.