a. Primary and Secondary Segments of the Nigerian Financial Market:

• Primary Market:
  The primary market is where new securities are issued and sold for the first time. It allows companies to raise capital by issuing shares or bonds directly to investors. In Nigeria, companies use the primary market to access funds through initial public offerings (IPOs) or bond issuance.
• Secondary Market:
  The secondary market is where previously issued securities are traded among investors. After the initial sale in the primary market, these securities can be bought and sold by investors on platforms such as the Nigerian Stock Exchange (NSE), providing liquidity and enabling price discovery.

b. Four Advantages of Listing on the Stock Exchange:

1. Access to Capital: Listing on the stock exchange allows companies to raise large amounts of capital from a wide pool of investors, which can be used to fund expansion, research, or debt repayment.
2. Increased Public Profile: A company listed on the stock exchange gains visibility and recognition, which can enhance its reputation, attract customers, and build trust with investors and stakeholders.
3. Liquidity: Listing provides shareholders with a market for trading their shares, giving them the opportunity to liquidate their investment when needed. It also allows for price discovery based on market conditions.
4. Enhanced Corporate Governance: Listed companies are subject to stringent reporting and regulatory requirements, which promote transparency and good corporate governance. This can improve investor confidence and ensure accountability.

c. Listing Requirements for the First-Tier and Alternative Securities Markets: