Investments and Securities Tribunal to digitalise operations in Nigeria

The Investments and Securities Tribunal (IST) in Nigeria has announced plans to digitalise its operations and adopt new rules of engagement. These measures aim to improve operational efficiency, facilitate easier access to justice, and strengthen investor protection within the nation’s capital market.

During a visit by the Chartered Institute of Stockbrokers (CIS) to the Tribunal in Abuja, IST Chairman Hon. Aminu Junaidu stated that the new rules would be considered following the Tribunal’s next board meeting in Port Harcourt. To ensure the timely resolution of cases, Junaidu noted that the Tribunal is prepared to sit on weekends and public holidays if necessary.

Tribunal member Hon. Felix Onwuneme highlighted challenges regarding the flow of cases, specifically pointing to the inactivity of the Securities and Exchange Commission’s (SEC) Administrative Proceedings Committee (APC). He noted that because certain matters must pass through the APC before reaching the Tribunal, its inactivity has contributed to a backlog of complaints at the commission.