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The Investment and Securities Tribunal (IST), a specialized court for resolving capital market disputes, has successfully settled 300 cases worth over N1 trillion in the past two decades since its establishment.
In the previous year alone, the value of investment disputes resolved by IST amounted to over N17 billion, indicating the growing confidence of both local and international investors in the tribunal as a fair and impartial arbitrator for capital market disputes.
During an interactive session with the media in Abuja, IST Chairman, Hon. Amos Azi, confirmed these statistics and highlighted the tribunal's core values, which enable it to deliver judgments within three months of adjudicating disputes.
Azi emphasized that the tribunal has exclusive jurisdiction over all capital market matters and is committed to avoiding procedural technicalities.
Established under Section 274 of Investments and Securities Act 2007, the Tribunal is an independent judicial body mandated to adjudicate capital market disputes and interpret relevant laws, rules, and regulations.
Azi noted that since its inception in 2003, IST has successfully resolved disputes amounting to almost a trillion, with last year's resolved disputes valued at N17 billion.
Azi pointed out that IST is the only constitutional court with a three-month time frame for resolving disputes, a significant improvement compared to other courts where cases often linger for extended periods.
He also highlighted the tribunal's track record of providing judgments that are rarely overturned at the Appellate Court.
In line with global best practices, the Tribunal has implemented digital filing mechanisms to accommodate technological advancements, allowing suits to be filed from anywhere in the world.
