The Investment and Securities Tribunal IST has resolved 300 cases with market value of N1 trillion since its inception in 2003.
Chairman of the tribunal Amos Azi who disclosed this in Abuja said the IST successfully adjudicated over some disputes in the Nigerian capital market valued at N17 billion in 2023.
Azi who spoke during a meeting with Finance Correspondents Association of Nigeria (FICAN) said the tribunal had set a standard which the Nigerian 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 said.
The meeting was premised on the Tribunal’s efforts to create awareness of its activities.
On its operational performance, the chairman said that the Tribunal stands out in the nation’s judiciary due to its ability to resolve cases within three months, unlike other courts where in most cases, matters remained for many years undetermined, a situation inimical to business operations, noting that 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.
The Tribunal has leveraged technology and built a mechanism to ensure cases can now be filed digitally from anywhere around the world as part of efforts to adapt to technological advancement in line with global best practices. Azi said part of this was driven by the COVID-19 pandemic of 2020 that propelled the Tribunal to commenced virtual hearing.
By revolutionising its processes and procedures, aggrieved parties can now electronically file suits from any part of the globe and receive prompt attention.
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