Investment Tribunal recovers N800b for investors

 Sanni Onogu, Abuja

THE Investment and Securities Tribunal (IST) has determined cases worth over N800 billion in favour of various investors in 13 years of its existence, it was learnt on Wednesday.

Also on Wednesday, the Security and Exchange Commission (SEC), said it plans to integrate Financial Technology (Fintech) into the Capital Market.

The Chairman of the IST, Amos Azi, stated this during an interactive session between Capital Market stakeholders and the Senate Committee on Capital Market, in Abuja.

Azi said the IST has delivered on its major Key Performance Indicators (KPIs) by delivering judgements within 90 days, that is from commencements to judgement day, publication of its law report and sensitisation.

He said: “From inception till date, we make bold to say that the IST has adjudicated and determined cases of monetary value of over N800 billion in favour of various investors which we believe is very encouraging to investors.

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“The investors now know that they have where to approach in case of a dispute.”

He said that the IST has established four zonal offices in the country in order to bring adjudication closer to investors at their door steps instead of traveling to Abuja.

He said the offices are in Lagos, Enugu, Port Harcourt and Kano, saying the IST has 10 volumes of its Law Reports that are being used by both academicians and practitioners in the Capital Market.


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