CHAPTER    ONE

OVERVIEW OF THE STUDY

The capital market is the market for dealings,( that is lending and borrowing ) In long –term loan able fund. The market is a source from which industries obtain its capital for establishment expansion and modernization and from which the government borrows on long term basis for development purpose it offers access to varieties of various instrument that enable economic agent to pool, price and exchange risks through assets with affricative fields liquidity and risk characteristics. It encourages savings in financial form. This is very important for government and other institutions in need of long-term funds and for suppliers of long-term fund who because of the native of their liabilities undertake to maintain parts of their assets in the relatively liquid form (Ekeizie 1997)

According to Kanu N.O.N (2004) capital market refers to that market for the mobilization of medium and long term fund. From the surplus units for allocation to the deficits units of the economy the market provide opportunities for the insurance and resale’s of government securities co-operate funds, stocks, shares, and mortgage loans.

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