Impact of Pension Reform on Nigeria’s Capital Market from 2004 ? 2008Journal: International Journal of Accounting and Financial Management Research (IJAFMR) (Vol.3, No. 4)
Publication Date: 2013-10-31
Authors : Salihu Kwairanga;
Page : 11-20
Keywords : Pension Reform; Capital Market;
The paper is aimed at examining the impact of Nigeria’s pension reform on its capital market development from 2004 - 2008. Nigerian government prior to 2004 was faced with myriad of problems associated with its then pension scheme. The problems included inability to pay retirees pensions on time, decreased revenue base and increasing workforce. The government to curtail this decided to reform its pension and changed it from a pay as you go system to contributory scheme. The paper made use of secondary data and it was found out that pension reform has contributed to the development of the Nigeria’s capital market through revamping of the moribund bonds sector, increase market capitalisation and improving the performance of stocks in the market.
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