THE EFFECT OF CENTRAL SECURITIES CLEARING SYSTEM (CSCS) ON THE NIGERIA CAPITAL MARKET

THE EFFECT OF CENTRAL SECURITIES CLEARING SYSTEM (CSCS) ON THE NIGERIA CAPITAL MARKET
 
ABSTRACT
The study is about the impact of Central Securities Clearing System (CSCS) operations on the development of Nigerian capital market. The Nigerian stock exchange was facing a great challenge of ever-growing volume of transactions on one hand and ensuring the transparency in transactions on the other. The need for efficient market where price determination will be effective and transparent became of increasing concern. The study adopted the survey research design and randomly enrolled participants in the study. A total of 100 responses were validated from the enrolled participants where all respondent are staff of Nigeria Security and stock exchange commission. The study concluded that the system is an innovation in the transfer of shares between sellers and buyers of security timely and this culminates into the development of Nigeria capital market to an enviable degree.
 
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The idea to have a stock market in Nigeria dates back to the late fifties, this period witnessed an upsurge of private industrial investments and many other developments took place that time which promoted government in taking initiative in establishing