Finance Minister Assures Capital Market Investors, Operators

• Of investments’ security, safety 

The Federal Government has assured investors and key players of the security and safety of their investments in the nation’s capital market.

Minister of Finance and Coordinating Minister of Economy, Chief Adebayo Edun, who gave the assurance on Wednesday, said volatility of the Nigerian economy notwithstanding, government is conscious of the capital market’s critical role in mobilising resources for social infrastructure and economic development.

Speaking during a Hybrid Sensitisation Seminar organized by the Investments and Securities Tribunal (IST) in Kano, Edun said the present administration’s resolve to strengthen investors’ confidence in the market should never be in doubt.

According to him, investors should not be despair over unresolved disputes on their stocks given the good works being done by the IST established to stabilise and ensure a conducive investment environment.

The Minister, whose address was delivered virtually, said the current administration would not relent in making judicious use of the capital market to strengthen investment opportunities and ensure infrastructure growth in the country.

In his remarks, Chairman of the Investments and Securities Tribunal (IST), Amos Azi, said the Tribunal was established to fast-track dispute resolution between investors, regulators, and stock players.

He said given the need for speedy dispensation of justice and security on investments in the stock exchange ecosystem, IST is empowered by law to hear and determine any conflict brought before it within 90 days.

Azi recalls the Supreme Court decision that guves IST the exclusive jurisdiction and powers to hear and determine disputes that concerns capital market issues.

The IST boss urged High Court judges to always refer matters concerning investments and securities brought before them to IST for speedy hearing.

On the workshop’s relevance, he Azi it was “organised to sensitise judicial officers on the critical role of IST and why they should timely refer cases that have to do with the capital market and stock exchange to IST”, adding; “IST is established to protect investments and restore investors’ confidence in any case of dispute either between them and the regulator or the stockbrokers.

“While the tribunal ensures investors’ returns, it also gives the regulator, that is, the Securities and Exchange Commission (SEC), powers to take drastic action against defaulters of laws”.

In their separate interventions, the Chief Justices of Kano and Jigawa states acknowledged that the Supreme Court’s decision on the exclusive jurisdiction of IST on matters relating to the capital market.

For them, the ruling is a healthy development that has further enriched and expanded the body of jurisprudence in the country.