Nigeria: The BP And Investor Resurgence in Equity Markets

11 May 2009

A new economic paradigm is on the horizon and by the time the current American led grand assault on the more than 200 years of capitalism is completely digested by the investing communities, there will be overwhelming calls and demands for reshaping of the mechanisms and instruments of regulating financial markets.

Misapplication of risk control measures, bad credits, collateralization of defective debt instruments, insurance fraud, and failure of government regulatory agencies to carry out statutory oversight of public and private corporations engaged in financial markets in the United States and several European countries, has led to a dislocation of centuries old economic theories in North America and Europe and the near collapse of several leading corporations. The shock in emerging markets is enormous. Individual investors in countries such as Nigeria have lost fortunes mainly through declines in the value of investments. The Naira has suffered in its value against the US Dollar, the British Pound Sterling, and the Euro. Investor apathy and lack of confidence in capital markets have never been lower.

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