Stockbrokers’ Perceived Techniques for Mobilizing Nigerian Civil Servants to Invest in Shares.

Abstract

The study was aimed at finding out the techniques perceived by stockbrokers for mobilizing Nigerian civil servants to invest in shares. Two research questions and two null hypotheses tested at 0.05 level of significance guided the study. The population of the study was all the 354 stockbrokers from the South-East geo-political zone of Nigeria. A structured questionnaire was used for data collection. The reliability of the instrument was established using Cronbach Alpha research technique which yielded the reliability co-efficient of 0.80. Out of 354 copies of questionnaire distributed to the respondents, 324 copies were returned and used for data analysis. Data collected for the study were analyzed using mean ratings for research questions and z-test for the null hypotheses. The major findings revealed amongst others that organizing seminar and workshops, holding talk-shows, circulation of share subscription forms to various ministries, and information on various benefits associated with investment in shares were perceived as techniques for mobilizing Nigerian civil servants to invest in shares. Gender and years of experience do not have significant effect on the respondents’ opinions. It was recommended amongst others that government should support all legitimate efforts towards boosting the purchasing powers of the Nigerian civil servants to enable them to invest in stock..

Keywords: Stockbrokers, civil servants, NSE awareness creation activities, and NSE investment benefits.