Just thinking aloud on the full suspension of trading in shares of Afroil and Capoil in the stock market. Shouldn't the NSE/SEC make public the outcome of their investigations to let the public know whether the two companies are actually guilty as charged? What is the position of the regulatory bodies on the other two suspected companies? Is the investigation on them not yet concluded? If so, what's responsible for the delay? Afroil and Capoil were probably unfortunate to have being used as scape-goats. Discerning investors have all the while being suspecting foul plays in the unjustified price appreciation of some moribound companies and on many occassions, have openly expressed their fears. It has now become public knowledge that some newly enlisted and moribound companies had in the recent past device strategies to deliberately created artificial scarcity of their shares which impacted heavily on investors' demand and in turn, moved their prices northward. The regulatory bodies should "nib the practice in the bud" by instituting a broad-based investigations to cover all companies in the stock market. Such actions would attract the participation of more investors, both local and foreign, into the Nigerian stock investment.
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