The Chairman of the Investments and Securities Tribunal (IST), Hon. Aminu Jinaidu, on behalf of the Federal Government, has assured Ethiopia of the Tribunal’s readiness to support the development and stability of the country’s emerging capital market through the sharing of its experience in investment dispute resolution.
The IST Chairman made this pledge when the Ethiopian Ambassador to Nigeria, Legesse Geremens Haile, recently paid a courtesy visit to his office in Abuja.
Jinaidu maintained that the Tribunal would do its best to ensure that the Ethiopian capital market remained among the fastest growing investment market in Africa.
In his remarks, the Ethiopian envoy disclosed that his country had established a Capital Market system, including the Ethiopian Exchange and the Capital Market Administration, to serve the interests of investors.
- Advertisement -
Haile explained that because every investor needed assurance from institutions that can receive and respond to their complaints in a timely manner, his visit to the IST was aimed at understudying the legal mechanism through which complaints arising from investments in the Nigerian capital market were being addressed.
While commending the Tribunal for its roles in the Nigerian capital market, the Ambassador said his country would soon sign a Memorandum of Understanding (MoU) with the IST.
He noted that with the African Continental Free Trade Area (AfCTA) agreement being enforced, Africans needed to work together in the spirit of Pan-Africanism.
The envoy also expressed Ethiopia’s desire to strengthen its political as well as economic relations with Nigeria and expressed optimism that the knowledge gained from the visit would be useful as Ethiopia continues to develop and strengthen its own capital market institutions.
Haile added that collaboration and learning from established systems such as Nigeria’s could play an important role in building strong and credible investment frameworks in his country.
In his response, Jinaidu welcomed the Ambassador’s request and assured that the Tribunal would be ready to support Ethiopia whenever necessary in the country’s strive to develop its investment market.
One of the key highlights of the Ethiopian envoy’s visit was his attendance at a live court session, where he observed how the Tribunal conducts its proceedings and manages investment-related disputes.
The IST is a specialized adjudicatory body established to resolve disputes arising from activities in Nigeria’s capital market within a 90-day period, thereby helping to ensure transparency and investor confidence in the system.
