The Investment and Securities Tribunal has said it successfully adjudicated over some cases concerning investment disputes that arose between various investors in the Nigerian capital market valued at N17 billion within the last year. The tribunal also said that it had handled 300 cases worth about N1 trillion between 2003 when it was established and now.
Chairman of the securities tribunal Amos Azi said the tribunal had laid a benchmark upon which the capital market and its stakeholders are leaning to discharge their mandate.
“The tribunal has not let anybody down; it has broken grounds. The stock market has also taken a queue to fashion its guidelines,” he remarked yesterday at a meeting with the Finance Correspondents
Association of Nigeria (FICAN) as part of efforts to create awareness about the activities of the tribunal.
He stated the dispensation of justice and mediation activities of the tribunal in record time has helped to engender investors’ confidence in the fact that the Nigerian market is one of the best choices for all investors.
He said the tribunal has also reduced the hitherto impunity of the Securities and Exchange Commission (SEC) in its resolve to enhance good transactional experience and create an enabling environment for investors to trade.
The director in charge of planning, research & statistics, Mr Emmanuel Chukwuorji said the investment and securities tribunal has sanitised the Nigerian capital market and enabled transactions for the growth of the national economy.
Like Chukwuorji, the chairman claimed that the Capital Market has been responding to the tribunal’s statements and decisions by constantly addressing the issues affecting the market, Ponzi scheme.
The investment tribunal is a dedicated fast-track civil court established for the resolution of disputes in the Nigerian Capital Market. The Tribunal, the first of its kind in Africa, is similar to the Securities Appellate Tribunal of India and the Market Misconduct Tribunal of Hong Kong.
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