WE are of the belief that the second quarter will record a better performance than the first quarter. This is based on the performance recorded in the first quarter. Stock performance in the first quarter is remarkable because most of banking stocks which are prominent players in the market have yet to publish their full year reports.

IT is common knowledge that the problem of capital market can not be resolved without addressing the issue of Registrars. Registrars are very vital to the capital market because of the pivotal rules they play in bringing efficiency to the market.

THE year 2009 is a year that will forever remain in the history of the Nigerian capital market for so many reasons. The real meltdown which started in 2008 came fully in the year 2009 and almost all of the sectors were affected. By the end of January 2009, the All Share Index lost 31 per cent of its value which has never happened in the history of the Nigerian capital market, and that singular act really dampened the confidence of the investors.

FROM the result of the recent examination conducted by the Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Commission (NDIC), at least eight banks were taken over by the CBN. As a result of this, there are talks in the market that it is likely that some of these banks would be acquired, merged or taken over. This has to do with the statement earlier made by the governor of the CBN, who is of the opinion that the number of banks in Nigeria should be reduced from the current position of 24 to 15.

RECENTLY, one of the directors of the Central Bank of Nigeria (CBN), issued a circular to all the banks in the country, regarding the publication of their financials as at September 30, and they were given the directive to disclose all their loss provision in respect of oil and gas and margin account.  After the examination by CBN- NDIC joint examination, they were asked to make provisions.

THE bubble in the financial system (i.e. banking industry) has made some investors to think that the Central Bank of Nigeria (CBN) will shove them aside and take over the banks from them. May be they are reacting to the statement by the CBN governor that it is the depositors and creditors that own the banks. He is not saying that investors have lost their investments in these banks.

THE issue of bond is one that should be looked at with all seriousness.
Why are more states and companies coming out with bonds? Guaranty Trust Bank just concluded its annual general meeting and got an approval for a N200 billion bond, First Bank also got approval during its AGM and as today UBA is calling for an extra-ordinary general meeting for an approval of another N500 billion bond.

RISK taking goes beyond just a necessary step, beyond just a requirement to reach the perfect “10”. Risks-sensible, calculated, prudent, rational risks-are the obstacles that make reaching the destination worthwhile. Without them there would be no struggle and no satisfaction.