This research work is the impact of deregulation on the performance of the Nigeria banking Industry with special reference to Nigeria Stock Market as an instrument in the mobilization of investment capital. This commencement of deregulation, banks, operated in a regulated controlled sector, which ensured discipline and professionalism in the banking Industry. Staffs of banks Western highly regarded in society as men of noble profession with procession with proven integrity and entry into the sector was properly screened and virtually.

CHAPTER ONE: INTRODUCTION

1.0 BACKGROUND OF THE STUDY
The development of the stock Market in Nigeria started in 1946 when the their year plan local ordinance was promulgated. The ordinance provided for the floating of & 300,000 (N600, 000) to stock bearing interest at 3.25%. It had maturity of 10-15 years.
Another attempt was made in 1951 through the creation of a loan fund financing public utilities. This, 1945-55 constitute the first significant attempts made under the British colonial administration to create investment opportunities of Nigeria. There they mark the beginning of capital market development in Nigeria but the specific objectives of developing a local capital market was not seriously by the colonial administration.
In 1958, committees under professor barrack. The director of the Nigeria institute of social and economic research was appointed to consider the ways and years of postering a stock market in Nigeria. There was a favourable report recommending the creation of facilities for in stock.
The establishment of rules regulating transfers and Watchers to encourage savings and issue of securities of govt. and other organizations.
In 1959, the central bank of Nigeria can attempt to involves a stock market capital the first Federation of Nigeria development loan of N14 million on behalf of the govt. because a formal stock market had it been established, the central bank had to put a lot of effort and time to ensure that the total floated carried a reasonable assuratey of marketability by introducing arrangement involving the maintenance of a central register for marketing buyers and sellers of shares & suggesting apricesat which the deal stock place the refore, the favourable report of bareback committee led to the registration of Lagos stock exchange in March 1960 (Alile & Arao 1986).
Essentially, the stock market is expected to be the point of re-economic development of any economy. As noted by Adegute (1994). The capital market serves as an integral part of their counting financial system where money securities are bought and sold. It even place for raising funds of various maturities to the individual provides for rising of financial capital on a short, medium or long term basis. He defined capital market to be exclusive of the money market.
Market and is in the main a market for securities stock market are where financial instruments such as debts.
According to Okoro (1990), transaction on stock market instrument can be alone either by correspondence or by personal contact there must be an intension to sell (an effort and (abide) before a deal can take place on the trading the or for the stock exchange. Stock market was created an avenue for individual and institutions in the society who wish to invest their money by buying share in companies in the investors do not stand to get back these money under normal circumstances since the money is often used in setting up fixed asset like building machines and other project. However, an investor may have a pressing need for liquid cash and to increase his liquidity by buys securities which can be easily solid in the stock exchange to acquire liquid cash. The stock market is an encouragement to those that wish to invest by buying securities and those that want to reclaim an invested fund by selling their securities or terms that are agreeable to both parties. Meanwhile, there are still other that are not invested in actual investment but other sell purely for speculate purpose. They growth as speculative (Eiki, 1995,: 25) the growth of the stock market was enhance estimate and saving which include.

1. The income tax management. Act 1961-section of the act provides for certain proportion at which the relevant pension on provident find could be invested in Federal securities.
2. The intibal provident Fund Act, 1761-th specifies the nature of investment which the fund may make and it has to be invested only in Federal securities
3. The trusts investment Act 1962- specifies the types of securities in which the funds of settlement may be invested. The approved securities consist of Federal Government securities and other which are listed on the exchange.
4. Insurance Act, 1976 the Act requires insurance companies to invest a certain minimum proportion of their funds in presentable securities which are listed on the stock exchange.
5. The Nigeria enterprises promotion Acts 1976 and 1997 the indigenization measure pursue by government granted impact in the country by increasing the number of listed equality from the figure of 14 in 1971 to over 90 by the end of 1980 (Alile and Amino, 1986)

1.3 PURPOSE OF THE STUDY
Having the above problems in mind as militates against the development of stock market in serving as an in instrument in the mobilization of investment capital, the purpose of this study is to determine.

1. Contribution of the capital market to the development of industrial capabilities and economic growth.
2. The possible strategies to enhance or increase capital market.
3. The mission or objective of the Nigeria stock exchange in promoting increased capital information in Nigeria by the 2010.
4. The relevance or usefulness of stock market in the mobilization of investment capital

1.4 RESEARCH HYPOTHESIS

1. Ho: Nigeria stock market is not an efficient instrument in mobilization of investment.
2. Ho: Lack of public awareness does not militate against the realization of the potential of the stock market in fund mobilization for investment.
3. Ho: The use of the capital market does not reduce over reliance on the money market.

1.5 SIGNIFICANT OF THE STUDY
This study will be of importance to individual’s private and public companies, financial institutions government and parastatals, as it will enable them to understand the role which capital market plays in the mobilization of funds and their eventual transfer to businesses, the government and individuals that need those funds for investment. It encourages the investor towards specification, development and mobilization of the economy through investment process.

1.6 SCOPE OF THE STUDY
The research work revolves on the Nigeria stock market and how it serves as an efficient investment in the mobilization of investment capital. It is important to note that the capital market is not a sought entity. It is rather a work to specialized financial institutions to the various ways bring together supplies to capital, which will be fully ensure. This study, It will also examination are regulatory bodies of the capital.

1.7 LIMITATIONS OF THE STUDY
The research encounter few constraint saving the process of research the reluctance of some respondent to volutes information because they did not believe the assurance given them that the data collected were purely for academic purpose . Other limitation included financial and time constraint.

1.8 OPERATIONAL DEFINITIONS OF TERMS
Some terms concepts have various meanings depending on whom or it is used. The 1/ones in this study are in the following context.

1. Stock Market: It is used interchangeable with the capital market, which is integral part of the country financial system where many securities are bought and solid.
2. Share Holder: A shareholder is one who holds a share certificate that has to share is also called or referred as stock holder.
3. Speculation: It is the buying and selling of goods with the objects of gaining from differences in prices.
4. Stage: One who speculates on the stock exchange by subscribing to new issue with the hope of selling his allotment at a profit as deal in the securities commences.
5. Bear: An individual who sells securities he does not own, or which he does not want to deliver, in the hope that they can be repurchased at a profit before delivery has to be made.
6. Common Stock: It is a terms for equity or ordinary share.
7. Bid: The process at which a jobber or investor is prepared by stock or shares, when a prices is quoted as bid” It generally means that there are more, buyers than sellers.
8. Broker; A intermediary who buys or sells share can behalf of a client.
9. Double Option; The right to buy securities at an agreed price within an agreed period usually not more than three months.
10. Primary Market: It is where securities are offered for sale to the public from the issuer for the first time.
11. Secondary Market: It is where people investments stores can buy or sell previously quoted securities and get their money back for alternative uses.