Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday, inaugurated Zonal Office of Investments and Securities’ Tribunal in Kano.e
Speaking at the inauguration, the minister said the tribunal would help immensely in attending to cases related to investment fraud, among others.
Edun, who was represented by the Director Finance, Federal Ministry of Finance, Alhaji Ali Mohammad, said that cases would be dispensed immediately without going through all the rigorous court processes provided as it were.
He said one of the cardinal objectives of President Bola Tinubu’s administration was to ensure that investment was being increased by paving ways to thrive it in the country.
“If that is done, definitely the revenue profile of government and general public will increase.
“By so doing, more job opportunities will be provided to the teeming youths of the country,” Edun said.
The Chairman Investments and Securities Tribunal (IST), Mr Amos Isaac-Azi, said the establishment of the tribunal was intended to fast-track dispute resolutions between investors and regulators in the Nigeria’s capital market.
“The tribunal is established pursuant to section 274 of the Investment and Securities Act 2007 and stands as one of the major investment incentives that government has for investors.
“The IST provides protection to investments and restore investors’ confidence in any case of dispute either between them and the regulators or the stockbrokers, to hear and determine any conflict brought before it within 90 days,” he noted.
Isaac-Azi said that the tribunal was already working on an app to make filing of cases easier online for the benefit of equity holders, stockbrokers and the regulators as well.
Similarly, the Chairman Shareholders’ Association, Kano State chapter, Alhaji Sabi’u Bako, commended the initiative, saying that it would go a long way in ensuring speedy dispensation of justice in the dispute matters associated with capital market.