IST Chairman Woos Capital Market Institutions For Support

BY COBHAM NSA – The Chairman of Investments and Securities Tribunal (IST), Amos Azi has expressed concern over the low level support extended to the Tribunal by institutions and stakeholders in the Nigerian Capital Market. 

He said it was not encouraging having only three Institutions in the Capital Market offering support to the Tribunal at the moment.

Azi described IST as an Institution that should be protected, supported and showcased given its critical role in boosting investors’ confidence and also the inherent benefits for all stakeholders in the  Market.

The Chairman made the worrying observations when Executive members of the Chartered Institute of Stockbrokers (CIS) visited the Tribunal headquarters in Abuja recently.

According to him, the IST boast of an impressive track record of performance, noting that since its inception, none of its judgment has been overturned on the ground of wrong evaluation of facts.

On how stakeholders and the public can benefit from IST’s proceedings, the Chairman explained that anyone, with or without a lawyer, can approach the Tribunal for help as it relates to issues of infractions in stock Market operations.

Consequently, he urged institutions in the Capital Market to support the IST is the major infrastructure that boosts investor confidence in the nation’s Capital Market.

Speaking during the visit, President of the Chartered Institute of Stockbrokers (CIS) Oluropo Dada said the Institute is willing to collaborate with IST on both local and foreign trainings for staff as a nominating body on the Tribunal’s board.

Dada said the visit was meant to introduce CIS’ new Executives to the Tribunal management and explore areas of symbiotic relationship and robust partnership between the two organisations.

Highlight of the visit was the presentation of the book titled ‘History of the Nigerian Capital Market‘ written by the Institute to the IST Chairman and his management team.