IMPACT OF GLOBAL FINANCIAL CRISIS ON NIGERIA CAPITAL MARKET (A STUDY OF NIGERIA STOCK EXCHANGE)

ABSTRACT
This research project was centered on the impact of global financial crisis on Nigeria capital market using Nigeria stock exchange (NSE) as a study. The over riding objectives were to examine the role of capital market in the global financial crisis and economic development.  To determine the problem of Nigeria capital market in enhancing national economic growth. To ascertain if the confidence and interest of investors in the capital market, can be restored by high level of transparency in administration of depositors funds.  In the introduction chapter, issues  like historical background of Nigeria stock exchange, problems that face Nigeria capital market and how global crisis affects Nigeria and lots of them were highlighted . Primary and secondary methods of data collection were used in obtaining relevant information used in presentation of data, analysis of data was done using percentage analysis method chi-square  regression was used in testing the relevant hypotheses and the result was interpreted. In the course of this research work, the researcher was able to find the problems and challenges as posed by the global financial crisis to Nigeria capital market. The financial crisis has caused to  much harm to the capital market, there are lots of lingering problem such as issues bordering on unclaimed divided, delay in issuing of shares certificates after public offers, insincerity of market intermediary to the investors. Through the country was able to withstand the first round effect of the global crisis the effect of the next round were too much, leaving the country with considerable shock.   Global financial crisis and economic downturn have impacted negatively on the economic environment in Nigeria However the Nigeria economy is at a critical junction, therefore overcoming the situation would depend on how effectively the government responds on the economic crisis.

The result showed that market capitalization positively and significantly impacts on gross domestic product (GDP). It was therefore recommended that the operators of Nigeria capital market should raise the level of awareness so that investors will be abreast with the happenings in the market for adequate capitalization.
 
TABLE OF CONTENTS
Title page                                    i
Approval page                                ii
Dedication                                    iii
Acknowledgment                                iv
Abstract                                    vi
Table of content                                vii
CHAPTER ONE
1.1    Background of the study                        1
1.2    Statement of the problem                        4
1.3    Objectives of the study                        4
1.4    Research question                            5
1.5    Research hypotheses                        5
1.6    Significance of the study                        6
1.7    Scope of the study                            8
1.8    Limitation of the study                        8
1.9    Definition of terms                            9
    References                                11
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Historical overview of Nigeria stock exchange          12
2.1    The concept of financial crisis                    15
2.2    The cause of the crisis                        17
2.3    Overview of Nigerian capital market                20
2.4    The stock exchange and the capital market             22
2.5    The historical background of
    Nigeria stock exchange (NSE)                     25
2.6    The Role of Capital Market in Economic Development     28
2.7    Performance of the Nigerian capital
market since 2004-2010                        28   
2.8    Evidences of effect of global financial
 crisis on development project in Nigeria            34
2.8.1 Problems of Nigerian capital market                36
2.8.2   Global financial crisis emerging
        challenges for capital market                     39
2.8.3 How global crisis affects Nigerian economy            41
2.9.4 The impact of global financial crisis in
    economic development of developing countries        45
2.10 Solutions and likely remedies to global financial
       meltdown                                 48
    References                                50
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY         52
3.1    Research Design                            52
3.2    Sources and Method of Date Collection            52
3.3    Population of the Study                         55
3.4    Sample size Determination                     55
3.5    Instrument used for data collection                57
3.6    Validity of data collection Instrument                 57
3.7    Reliability of Data Collection instrument             57
3.8    Method of Data Analysis                        58
    References                                 62
CHAPTER FOUR
Presentation and analysis of data                     62
4.1    Questionnaire analysis                         62
4.2    Presentation of data                        62
4.3    Analysis of data                             64
4.4    Test of hypotheses                         68
4.5    Summary of Result                        72

CHAPTER FIVE
Summary of findings, Conclusion and Recommendation
5.1    Findings                                 74
5.2    Conclusion                                77
5.3    Recommendation                            78
Bibliography                            80
Appendix                                82
Questionnaire                             83