Investments Tribunal Resolves 300 Capital Market Cases Valued at N1tn                                              

Ndubuisi Francis in Abuja

The value of cases adjudicated by the Investments and Securities Tribunal (IST) has hit about N1 trillion since inception in 2003, its Chairman, Amos Azi disclosed has disclosed.

Azi, who made the disclosure during an interactive session with  journalists in Abuja, also stated that no fewer than 300 cases were involved during the reference period.

IST is an independent, specialised judicial body constituted under 274 of the Investments and Securities Act (ISA 2007), to ensure good and orderly conduct of the Nigerian capital market, to boost and retain the confidence of local and foreign investors, and generally protect the sanctity of the capital market.

According to him, last year alone, the value of investment disputes settled by IST grossed over N17 billion, with the tribunal gaining popularity, confidence of both local and international investors as the foremost unbiased capital market dispute arbitrator.  

Azi said the tribunal’s core values make it easier for the specialised judiciary body to expedite judgment within three months of adjudicating disputes.   

He said: “IST has exclusive jurisdictions in all matters relating to the capital market. We abhor technicalities on all our procedures.

“The Tribunal is an independent specialized judicial body established under section 274 of Investments and Securities Act (ISA) 2007 to adjudicate capital market disputes and to interpret any law, rules or regulations as may be applicable.

“Since inception of the Investment and Securities Tribunal (IST) in the year 2003, we have been able to resolve disputes from transactions in the capital market to the tune of almost a trillion and in the last year, we have resolved disputes valued at N17 billion.” 

Azi noted that what makes the Tribunal unique is that it has a statutory timeline of three months to commence and conclude adjudication on a case, adding that it remains the only constitutionaly-guaranteed court that has a timeframe to resolve disputes within the stipulated three months unlike other  courts where cases linger for years.