The Verdict By Olusegun Adeniyi. Email, olusegun.adeniyi@thisdaylive.com
FLASHBACK
April 26, 2001:
The Nigerian Stock(fish) Market
Understanding the workings of the Nigerian economy is like trying to read a doctor’s prescription. It is never an easy task. That explains why when I see two or more “experts” arguing about movement of share capital, “bullish runs” and all that, I try as much as possible to keep my distance. Because they could be con-men!
Even as a lay man in business and economy, I have learnt enough from my friend and colleague, Ijeoma Nwogwugwu, to know that the death of a political leader, electricity failure for as insignificant a period as three minutes and even the bedroom antics of State officials can affect the movement of shares on the Tokyo, London or New York Stock Exchange markets with far-reaching consequences for the global economy. Interestingly, the Nigerian Stock Exchange (NSE) has for years been immune to political or economic factors, making one to wonder whether what they sell there is not stockfish after all.