The Investment and Securities Tribunal (IST) has been instrumental in settling capital market disputes valued at N1 trillion since its establishment in 2003.
The Chairman of the tribunal, Mr. Amos Azi, revealed this information during a press briefing in Abuja. He emphasized that the IST has significantly enhanced investor confidence by effectively resolving disagreements arising from transactions within the sub-sector.
Mr. Azi highlighted the tribunal's achievements, stating that they have successfully resolved disputes amounting to nearly a trillion Naira since 2003, with recent resolutions totaling N17 billion.
He commended the tribunal's track record of providing judgments that are rarely overturned at the Appellate Court, showcasing the tribunal's credibility and efficiency.
Furthermore, Mr. Azi emphasized the IST's unique ability to expedite case resolutions within three months, contrasting with the prolonged delays often experienced in other courts. This swift resolution process is crucial for maintaining a conducive business environment.
The IST has modernized its operations, allowing parties to electronically file suits globally and receive prompt attention, demonstrating the tribunal's commitment to efficient dispute resolution.
Additionally, Mr. Emmanuel Chukwuorji, the Director of Planning Research and Statistics, highlighted that the IST has successfully resolved over 300 cases since its inception, significantly contributing to the growth and stability of the Nigerian capital market.
He emphasized the tribunal's role in enhancing investor confidence through thorough dispute vetting processes, ensuring the integrity of judgments that rarely face challenges at the Appellate Court.
