Nigeria to help Ethiopia strengthen capital market institutions
Nigeria has assured Ethiopia of its readiness to support the development of the country’s emerging capital market by sharing its experience in resolving investment disputes. The assurance came from the
Nigeria has assured Ethiopia of its readiness to support the development of the country’s emerging capital market by sharing its experience in resolving investment disputes.
The assurance came from the Chairman of the Investments and Securities Tribunal (IST), Aminu Jinaidu, during a courtesy visit by the Ethiopian Ambassador to Nigeria, Legesse Geremens Haile, in Abuja.
Jinaidu said Nigeria is willing to support Ethiopia as it works to strengthen its capital market institutions and ensure investors have confidence in the system.
The tribunal is prepared to share its knowledge and experience in handling disputes arising from investment activities in the capital market.
He told the visiting ambassador that the tribunal would do everything within its capacity to assist Ethiopia in building a strong and reliable dispute resolution system for its capital market.
Jinaidu also assured that tribunal members, who sit as judges during proceedings, would be available to provide support and guidance whenever Ethiopia requires assistance.
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“Our members, who serve as judges during proceedings, will always be ready to offer support whenever the need arises. We will do everything within our capacity to ensure that the Ethiopian capital market stands firmly on its feet,” he said.
During the engagement, a tribunal member, Umahanni Amin, also pledged her support for Ethiopia’s efforts to develop its financial market institutions.
She said she would be willing to share her experience in Islamic finance, her area of specialisation, to assist Ethiopia in strengthening its investment framework.
Earlier, Ambassador Haile said Ethiopia recently established a capital market system, including the Ethiopian Exchange and the Capital Market Administration to serve investors.
He explained that investors require institutions that can receive and address complaints promptly, noting this was one reason his country seeks to learn from Nigeria’s experience.
According to him, Ethiopia approached the tribunal to study the legal and institutional arrangements through which investment disputes are handled in Nigeria’s capital market.
“We have established a capital market system, including the Ethiopian Exchange and the Capital Market Administration, to serve investors. Every investor needs assurance that institutions can receive and promptly respond to their complaints,” he said.
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The ambassador commended the tribunal for its work in supporting the growth and stability of Nigeria’s capital market.
He also said Ethiopia hopes to formalise cooperation with the tribunal through signing a Memorandum of Understanding.
Haile added that the partnership would help Ethiopia strengthen the legal and institutional structures required to support investment activities.
He noted that closer cooperation among African countries has become increasingly important, especially with the implementation of the African Continental Free Trade Area.
According to him, African nations must work together in the spirit of Pan-African cooperation to build stronger economic institutions across the continent.
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The ambassador also expressed his country’s desire to deepen political and economic relations with Nigeria.
He said the knowledge gained during the visit would help Ethiopia as it continues to develop and strengthen its capital market institutions.
Haile added that learning from more established systems, such as Nigeria’s, could play a major role in building credible and effective investment frameworks in his country.
A major moment during the visit was the ambassador’s attendance at a live court session of the tribunal, where he observed how the body conducts proceedings and handles disputes involving investors and capital market operators.
The Investments and Securities Tribunal is a specialised adjudicatory body created to resolve disputes arising from activities in Nigeria’s capital market.
The tribunal is expected to determine cases within 90 days, a process designed to strengthen transparency, protect investors, and build confidence in the country’s capital market system.
