Breaking News

Capital market wrecked by NSE and SEC – 1

Nigeria’s capital market is totally wrecked. It had been partially demolished by 2008, but there was still some hope. Now it is in ruins – thanks to the heads of the two institutions controlling it. The global community, and nations with honest capital markets, whose shares are heading for the basement, must be amused that in Nigeria those who are supposed to build the capital market – the NSE and SEC—are exactly the ones destroying what is left of it.

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CBN Governor

Another banking crisis coming up – 2

If anyone had asked Sanusi Lamido Sanusi three years ago his choice between becoming the Emir of Kano and the Governor of Central Bank; he would have chosen the former. But like Prince Charles of Britain, whose mother, Queen Elizabeth II, has reigned since 1952, and is still going strong, Lamido too must wait indefinitely to pursue his ultimate ambition – which does not include being remembered as a great banker. Banking was just something to do while waiting.

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Another banking crisis coming up – 1

This would be the third alert I would issue in the last fifteen years about a banking crisis about to occur. Almost invariably, the banking crisis causes collateral damage in the capital market – which heads down as a result. The recent appointment of market makers by the Nigerian Stock Exchange, NSE, might represent taking on fresh fuel before a ship capsizes. It will not help; it might even add to the problems that would result from the carnage.

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