TITLE PAGE I

APPROVAL PAGE II

DEDICATION III

ACKNOWLEDGEMENT IV

ABSTRACT VII

TABLE OF CONTENTS IX

Chapter ONE

1.0 INTRODUCTION 1

1.1 STATEMENT OF PROBLEM 8

1.2 PURPOSE OF STUDY 9

1.3 SIGNIFICANCE OF THE STUDY 9

1.4 STATEMENT OF HYPOTHESIS 10

1.5 SCOPE OF THE STUDY 12

Chapter TWO

2.0 LITERATURE REVIEW 13

2.1 INTRODUCTION 13

2.2 THE IMPACT OF CAPITAL MARKET RELATION TO STOCK EXCHANGE TOWARDS ECONOMIC DEVELOPMENT 17

2.3 HISTORICAL DEVELOPMENT OF THE NIGERIAN MARKET 21

2.4 THE MAJOR INSTITUTION IN THE NIGERIAN CAPITAL MARKET (NIGERIA SECURITIES AND EXCHANGE COMMISSION) 23

2.4.1 CAPITAL ISSUES COMMITTEE23

2.4.2 OTHER MAJOR INSTITUTION IN THE NIGERIAN CAPITAL MARKET 26

2.4.3 THE NIGERIAN STOCK EXCHANGE29

2.5.1 HISTORICAL DEVELOPMENT 33

2.5.2 MEMBERSHIP AND OPERATION 37

2.5.3 FUNCTIONS OF THE EXCHANGE 38

2.5.4 STRUCTURE OF THE EXCHANGE 39

2.5.5 STOCK MARKET ACTIVITIES 40

2.6 EXPECTED ROLE OF THE NIGERIAN STOCK EXCHANGE IN CAPITAL FORMATION.41

2.7 EXCHANGE ROLE OF THE NIGERIAN STOCK EXCHANGE IN THE NIGERIAN CAPITAL MARKET ESPECIALLY AS RETARDS NEW ISSUES THE PRIMARY MARKET. 44

Chapter THREE

3.0 RESEARCH DESIGN AND METHODOLOGY

3.1 POPULATION OF THE STUDY 50

3.2 METHOD OF DATA COLLECTION 51

3.3 PROCEDURE FOR DATA ANALYSIS 52

3.4 VALIDATION OF THE INSTRUMENT 52

Chapter FOUR

4.0 PRESENTATION AND DATA ANALYSIS

4.1 DATA PRESENTATION AND ANALYSIS 54

4.2 TEST OF HYPOTHESIS 59

Chapter FIVE

5.0 SUMMARY OF FINDINGS, CONCLUSION, RECOMMENDATION

5.1 FINDINGS 63

5.2 CONCLUSION 68

5.3 RECOMMENDATION 66

BIBLIOGRAPHY 70

APPENDIX: QUESTIONNAIRE