Nigeria All-Share Index: Retail investors will determine how it moves
Dear Africa interested individuals: I have mentioned multiple times in the past that retail investors are critical to the positive performance of any developing countries' stock market. This has largely fallen on deaf ears in Nigeria. The appeal of foreign portfolio investors with their large briefcases have stolen the hearts and minds of market regulators in Nigeria. The refusal to raise the domestic retail investor to a major player from a peripheral player has been the bane of the Nigerian market for more than five years now. This has led to market returns being consistently inconsistent. The Exchange hierarchy have advised retail investors to invest in mutual funds instead of directly. I have never been in support of this especially in Nigeria where their operations are shrouded in secrecy with the tacit cooperation of market regulators. I lo