The Chairman and members of the Investment and Securities Tribunal (IST) have been urged to diligently work together to discharge the responsibilities of the tribunal.
This Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said this at the swearing–in in Abuja of Barrister Azi Amos Isaac and Barrister Nosa Smart Osemwengie, as chairman and member of the Investments and Securities Tribunal (IST) respectively.
Ahmed said “With your appointment, the tribunal now has a full complement of 10 members in line with the enabling law, the Investments and Securities Act (ISA), 2007. It is, therefore, my hope that all the members will justify the confidence reposed in them by President Muhammadu Buhari.”
While congratulating them for being found worthy by Mr. President to be appointed to the highly exalted positions, the Minister also said, “Your appointments have come at a time when all hands are needed to build our economy. As you all may be aware, the IST was first inaugurated in December, 2002. It is a specialised fast-track court, established for the settlement of disputes in the capital market.”
Since its establishment, the tribunal, Mrs. Ahmed noted, has made some strides, particularly in its adjudicatory role which has gone a long way to sanitize the capital market and build investors’ confidence.
Within its short time of its existence, in view of the dynamism in law, “the tribunal has reviewed its Procedure Rules with the publication of the IST (Procedure) Rules 2014. Also worthy of note is that the tribunal has partnered with the Securities and Exchange Commission (SEC) to review the enabling law with the enactment of the ISA, 2007.
In his remarks, the newly sworn-in Chairman of the IST, Mr. Amos Azi, described the appointment as a challenging one, but however assured that the new management would take up the challenge and ensure that Nigerians are not disappointed.
