The Federal Government has expressed concern over the lack of awareness among investors and capital market stakeholders about the existence, jurisdiction, and operations of the Investments and Securities Tribunal.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, addressed this issue while inaugurating a workshop on the Legal Profession and Capital Market Regulation in Nigeria, organized by the Investments and Securities Tribunal at Bayero University Kano on Wednesday.
According to Edun, this knowledge gap has prevented many from leveraging the tribunal’s opportunities and benefits to enhance their activities and transactions. He emphasized the crucial role of the capital market in mobilizing necessary funds for government infrastructure and development projects.
“A well-functioning capital market is essential for a country’s economic development and growth,” Edun stated. However, realizing these opportunities requires a robust legal framework that ensures certainty and predictability of judicial outcomes.
“This underscores the importance of the legal profession in ensuring compliance with regulations and guiding the efficient resolution of disputes,” he added.
Edun called on legal experts, capital market stakeholders, regulators, and financial experts to provide valuable suggestions for strengthening capital market regulations and enhancing the effectiveness of the Investments and Securities Tribunal.
In his welcome address, Amos Azi Esq, Chairman of the Investments and Securities Tribunal, reiterated that the capital market mobilizes savings, facilitates investments, and provides liquidity, thereby stimulating economic growth and development.
“The capital market enables a healthy economy through efficient allocation of resources. Capital market transactions are confidence-driven, and this confidence is rooted in a strong adjudicatory framework,” Azi added. “An efficient dispute resolution process builds trust in the market, thereby attracting investors.”
Azi emphasized the importance of a developed dispute resolution framework for the Nigerian capital market to ensure fair, efficient, and transparent resolution of disputes, thereby promoting market confidence and integrity.
