By S.k. Ilugbekhai
Investment in securities in Nigeria is, by and large, still a strictly elitist venture. The highest concentration of investors are in the urban areas such as Lagos. Ibadan, Port-Harcourt, Onitsha, Yola, Kano and the Federal Capital Territory. Abuja. This perhaps informs the reason why the Nigerian Stock Exchange has created trading floors in all these cities to facilitate the business of stock trading in the Nigerian Capital Market. Investment in securities is highly dependent on customer confidence. Just like other sectors of the Nigerian Financial System. Where the customer lacks confidence in the system there is bound to be paucity of investment. Investors get about losing confidence in the system when the market is fraught with such negative vices as market rigging eloping with investors’ fund buying and not having money to pay buying from investors who have nothing to sell etc. One major question which this research has sought to find answers to is the level of protection at the disposal of an innocent investor in securities in the Nigeria Capital market in the event of loss of his or her hard earned resources in the course of engaging in legitimate transaction with member of the market.