In any economy there is a financial system that is responsible for regulating the financial environment of the society determining the types and use of funds to be issued, source of funds to be put. The financial system is really made up of two major markets, namely money and capital stock market. The many market is the market for short term funds and securities including treasury bills, treasury certificate negligence of deposits, commercial paper and other funds of which are less than a year duration.
Thus the aim of the regulating bodies composed of Nigerian stock exchange commission (SEC) is to promote development of orderly capital market to have authority over its members (stock broking firms) to whom it set rules of ethics are made to guide their professional behaviour in the course of carrying out its functions and create awareness of the general public. Stocks exist to enable companies in need of long term financing to sell pieces of the business stock equity securities in exchange for cash. This is the principal method of raising business capital other than issuing bonds. When the stocks of these corporations, which all which corporations must issue, are owned by the public at large, including both private investors and institutions, they are said to be publicly held. These publicly held shares can be easily traded (sold) to other investors in the stock market and are thus said to be liquid, or readily conversed to cash. Stock breakage firms usually, serve as intermediaries in the transactions, buying the new securities at wholesale prices from the issuer and then reselling them to the investing public at retail prices
HISTORICAL DEVELOPMENT OF CASE STUDY IN NIGERIA STOCK EXCHANGE
The dealing members of the Nigeria stock exchange are institutions who are licensed by the exchange as stockbrokers to buy and sell securities quoted on the exchange on behalf of the investing public.
In 1960, Nigeria stock Exchange was established with branch in Kaduna in 1978. Prior to the establishment of the Nigeria stock exchange the were not equipped enough with the information of stock broking and its importance to an individual, groups, organizations and global economic development.
In essence the awareness was low but from 1936 to date a considerable number of stock broking firms sprang up in Nigeria and in Kaduna particularly the first stock broking firm served as an eye opener to investors and the potential ones, with a highly experienced board and a crop of seasoned and dedicated professionals positioned to tackle the challenges of this new millennium. The branch is situated in Kaduna to exploit the immense untapped natural resources and economic potentials of the country in general.
This chapter review of literature entails the review another notable authorities, opinions in this field. This is to give the entire writer up a sound theoretical base. He the researcher is going to consider, journals, publications, text and documented interviews on security an security work investment as developmental of the ingrain economy. This work up is based on economical development through there are of development like infrastructural but for the purpose of this study it is limited to economic development. Security is a document certificate etc showing ownership of proudly (especially bonds, stocks and shares).
The prime role and essential reason for being a stock broker is to act as an agent on behalf of his client. He must put his clients interest first above his or anything else and he must get the bets price for his client. You can use the services of a stockbrokers simply to execute your instruments, or you can ask that he acts as an advisers in addition. The distinction is important and you must be aware of the ramification between the two distinct and different roles. Remember that you chose to be advised by a stock-broker or do all your own research and construct a portfolio particularly suited to your own needs, you will have to have your dealing done by some one who is authorized.
Societies have in the cause of production and consumption created surplus, which were used on a continued basis to create surpluses. Every nation has at one time or the other posed capital which are transformed and improved upon through the use of human labour to generate more capital for higher rates of economical growth especially in metropolitans like Kaduna stock broking is the buying and selling of shares on behalf of customers and offering advisory services top them.
(2018). THE ROLE OF STOCK BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA. Afribary. Retrieved from https://afribary.com/works/the-role-of-stock-brokers-in-the-economic-development-of-nigeria-4564
"THE ROLE OF STOCK BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/the-role-of-stock-brokers-in-the-economic-development-of-nigeria-4564. Accessed 28 May. 2023.
. "THE ROLE OF STOCK BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA". Afribary, Afribary, 29 Jan. 2018. Web. 28 May. 2023. < https://afribary.com/works/the-role-of-stock-brokers-in-the-economic-development-of-nigeria-4564 >.
. "THE ROLE OF STOCK BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA" Afribary (2018). Accessed May 28, 2023. https://afribary.com/works/the-role-of-stock-brokers-in-the-economic-development-of-nigeria-4564