The Nigerian capital market, specifically the stock market have been categorized by an international finance rating organizations standard and poor (S & P), as one of the most profitable markets in the emerging markets category.

The Nigerian Stock Market has been identified by this rating agency and others, in the years before 1997, as one with tremendous potential for growth and rapid development.

However, in the last 5 years the market began to witness a rapid increase both in quality and quantity of traded shares by companies offering shares previously owned by the Government through the Bureau for Privatization of Public Enterprise, and by privately owned companies. The result of this rapid exponential increase in shares available for trading, is that it deepened the market, consequently throwing up opportunities to harness for favorable returns.

Recently, the Central Securities Clearing System (CSCS) Ltd, which is the clearing and settlement institution of the Nigerian Stock Market (Nigerian Stock Exchange), published the following indices:

1. T + 3 settlement of Transactions i.e. transfers of stock ownership and values of stock are now concluded in three days after transactions as against 3 to 6 months in the past

2. T + 0 settlement cycle i.e. payment versus delivery (cash and carry type market) will soon be implemented.

3. From a daily deposit of 100 certificates at inception, an average of 3000 certificates daily are received fro trading by the CSCS.

4. Over 657,788 shareholders/investors now buy and sell shares through the CSCS with the numbers increasing daily.

5. Between 1997 to June 2004, CSCS cleared and settled stocks value at N341billion.

6. Stock volume cleared and settled for the same period amounted to 40,352,623,205units.

7. Accounts created between 1997 to June 2004 amounted to 774,424.

8. Certificates dematerialized with the same period totaled 2.5million in number.

9. Free quarterly statement of stock positions are printed for all shareholders in CSCS since inception as only 7,167 shareholders have requested for share certificates which is an amazing confidence in the system.

10. Numerous Shareholders/investors have continued to use their stockholding in CSCS system as collateral for loans. Lending institutions preference for the usage of CSCS infrastructure for lien placement is on the increase.

11. CSCS has taken transparency and accountability to greater heights.

12. CSCS has within seven years of operation/commissioning made visible giant strides and impact on the capital market and will continue to respond effectively, to the need of the stock market to further enhance transparency, credibility and speedy clearing and settlement of transactions.

13. The new CSCS business model about to be implemented will transform CSCS into a world class depository and digital data storage and retrieval company.

14. Therefore, the need arose in the market as it relates to equity transactions, to develop individual stockbroking firms and stockbrokers that are highly skilled professionals to take advantage of the market growth.

We are of the humble opinion that ADONAI STOCKBROKERS LIMITED can be ranked in this professional group.
We are optimistic that with the high caliber stockbrokers in our firm, we will be able to optimize opportunities in the market for all that stake with us.