The Investments and Securities Tribunal (IST) disclosed on Wednesday that it adjudicated in sundry investment disputes between investors in the Nigerian capital market worth N17 billion in the last one year.
The Chairman of the Tribunal, Mr. Amos Azi, who made this disclosure at a meeting with members of the Finance Correspondents Association of Nigeria (FICAN) in Abuja in furtherance of its enlightenment of the public on its activities, said the tribunal had set a benchmark for the capital market and its stakeholders to guide them in their investment initiatives.
The investment expert maintained that the tribunal’s mediatory approach and timely dispensation of justice on disputes handled by it had helped to engender investor confidence in the Nigerian capital market as one of the best choices for all investors globally.
The Chairman said: “The tribunal has not let anybody down; it has broken grounds. The stock market has also taken a queue to fashion its guidelines.”
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According to him, the tribunal has also reduced the 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.
Azi said that the tribunal had handled 300 cases worth about N1 trillion since its establishment in 2003 and May this year.
In his remarks, the tribunal’s Director Planning, Research & Statistics, Mr Emmanuel Chukwuorji, corroborated the Chairman’s position on the tribunal’s roles in the Nigerian capital market by ensuring fairness in all transaction disputes handled by it with the attendant implications for improved contributions of the local bourse to the growth of the nation’s economy over the years.
