Professor Wilson E. Herbert (KSC), PhD CFE CPFA FAIA FCTI, Professor of Accounting and Financial Management, and Director of Academic Planning Bingham University, Nasarawa State has posited that real investor in the capital market do not fear the effect of boom and bust in the market. He said this during the presentation of the book, “ An Insight into the Nigerian Capital Market co-authored by Jane Onoku Itseuwa, (PhD, FCAI) and Uche Uwaleke (PhD, ACA, ACS). Prof. Herbert who reviewed the book capital market as an investment wind can make a public company and also destroy it.
He started the review by differentiating among written texts which he classified as; academic, technical, professional and pedestrian or mundane. “While there are natural difference according to the context of a text, its audience, readership and purpose, nevertheless, certain commonalities emerge in every textual review”, he said. According to him, “A book review is not a summary of the book’s content, even though that may be included, but primarily trajectory into three essential features of the book: the content, style and merit. In so doing, a book review can be a primary source of opinion about a subject matter or phenomenon of interest, a summary review or scholarly review.”
He described the authors of the 27 chapter book as having the requisite qualifications to write the book in these words, “With respect to the authors’ academic and professional authenticity, they possess rich academic credentials laced with professional qualification and cognate experience. The authors have demonstrable academic pedigree and recognize pedagogy as an important profession. In all respects, these imbue them with complementary steps to write on the subject matter…”
The erudite scholar explained the message in the book in a paragraph thus; “Financial market has become a small animal in the national and global economic development menagerie with a loud roar! Financial markets and institutions are critical to economic development and play a key role in the smooth and efficient functioning of the economy. In recent years, the overall contribution of the financial market has extended well beyond their primary roles to include resolving the risk preferences or characteristics of economic entities (individuals and corporate organizations). The object of the book, An Insight into Nigerian Capital market, is to give the reader an insight into the operations of Nigeria’s Capital Market.”
Speaking to newsmen after the presentation, Dr. Uwaleke, who spoke on behalf of the pair said the capital market is characterized by boom and bust, but noted that wise investors learn to adapt to the market cycle. He revealed that the Nigerian Capital market is dominated by international investors and that the retail base of the market is very shallow. He advised Nigerians not to wait until they have millions before investing in the market; rather he said that one can start with ten thousand naira investment.
Mrs. Charity Zwingina, who represented her husband at the event praised the authors for job well done and advised that a little investment in the market can make somebody rich in a short time if the person gets expertise counseling .
A copy of the book sold for at least five thousand naira only.