Capital Markets and Law: Nigeria As a Case Study

Abstract

The dynamism of law cannot be undermined rather it extends to new frontiers even as existence continues to unfold. In line with the aforesaid, it is no gainsaying that the continuum of law as extended into the distinctive aspects of financial markets most notably, capital markets. Undoubtedly, in the emerging capital markets Nigeria has a history and it strongly represents a growing proportion in the country’s economy. On this note, this paper seeks to review the evolution of the capital markets institution in tandem with law and regulation in Nigeria. As an objective, it further seeks to give a report on the legal and regulatory framework governing capital markets in Nigeria with attention to the inadequacies and possible solutions to improve the quality of regulations which will contribute to the growth and development of the capital markets and its legal regime. With this background, it is necessary to consider the legal regulations that oversees the Nigerian capital markets. Albeit, it is considerable to understand the nitty-gritties of capital markets in order to establish clearly its synergy with law. Sequel on these findings, this paper makes recommendations for the way forward.