Investment Tribunal resolves N1 trillion cases
By Nduka Chiejina, Abuja The Investments and Securities Tribunal (IST) said since its establishment in 2007, it has resolved cases valued at over N1 trillion, showing the scale of disputes
By Nduka Chiejina, Abuja
The Investments and Securities Tribunal (IST) said since its establishment in 2007, it has resolved cases valued at over N1 trillion, showing the scale of disputes it has handled in Nigeria’s capital market.
Its Chairman, Aminu Junaidu, made this known in Abuja when he received a delegation from the Ethiopian Capital Market Authority, which is in Nigeria to study the Tribunal’s operations with a view to adopting a similar system in Ethiopia.
Speaking during the visit, Junaidu said Nigeria’s experience has shown that a properly structured tribunal can support capital market growth by making justice accessible to investors and companies.
He said: “Our experience in Nigeria shows that a well-structured Tribunal can serve as a cornerstone for capital market development by ensuring that justice is accessible to investors and corporate entities.”
Junaidu explained that for emerging and developing economies across Africa, the Tribunal provides a practical model for resolving financial disputes, adding that specialised dispute resolution systems are important for building trust among investors.
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He said: “The Tribunal demonstrates the value of specialised dispute resolution mechanisms. It also shows the importance of combining legal and financial expertise and having efficient processes that can inspire investor confidence.”
The IST chairman also noted that the Tribunal has embraced technology in its operations, saying cases can now be heard virtually, making the process faster and more convenient.
He drew attention to the Tribunal’s Alternative Dispute Resolution centre, which handles smaller claims through mediation, and added that the law setting up the Tribunal allows it to conclude cases within 90 days after hearings.
Also speaking, a member of the Tribunal, Felix Onwuneme, advised the visiting Ethiopian team to adopt the practice of front-loading documents to speed up proceedings.
Onwuneme explained that front-loading involves a litigant presenting written arguments before appearing in court to adopt them, a process he said reduces delays and saves time during hearings.
Leader of the delegation and Deputy Director-General of the Ethiopian Capital Market Authority, Renege Rahel Kassa, said the team chose Nigeria because of its strong experience in capital market development and the Tribunal’s track record in resolving cases quickly.
She said: “We came to Nigeria because of its extensive experience in capital market development and the Tribunal’s ability to dispose of cases in a timely manner while contributing to peace and justice in the system and upholding market standards.”
The visit also featured interactive sessions where members of the delegation asked questions on the composition of the Tribunal and its rules of procedure, as part of efforts to understand how the model can be adapted to suit Ethiopia’s financial system.
