The Investments and Securities Tribunal (IST) plans to roll out new Rules of Engagement following its next board meeting in Port Harcourt, part of a broader push to digitalize its processes and improve how it delivers capital market justice.
Tribunal Chairman, Hon. Aminu Junaidu, shared the plans when the Chartered Institute of Stockbrokers (CIS) President, Dr. Fiona Ahmed Ahimie, led a delegation from the Institute on a courtesy visit to the Tribunal in Abuja over the weekend.
Junaidu said the digitalization effort is meant to improve efficiency, make justice more accessible, and strengthen the integrity of Nigeria’s capital market. He assured investors and other stakeholders that the Tribunal would continue resolving cases without unnecessary delay, adding that it is prepared to sit on weekends and public holidays when needed to protect investors.
The chairman also welcomed deeper collaboration with the CIS on capacity building, noting that professional development is one of the Tribunal’s key performance indicators and would help sharpen skills across the capital market.
Ahimie said the visit was meant to strengthen ties between the two institutions, which she called essential pillars of Nigeria’s capital market ecosystem. She said their shared goal should be building a market that is transparent, investor-friendly, and able to draw in more participants.
While noting that confidence is returning to the Nigerian market, Ahimie raised concern about bad actors who could undermine that progress, calling for stronger cooperation among the Securities and Exchange Commission (SEC), the CIS, and the IST to identify and prosecute them.
She said the market currently has about 2.2 million registered investors, with efforts underway to attract 10 million more, making investor education and market credibility a growing priority. She added that the CIS is ready to work with the Tribunal on training programs, including extending them to other African capital markets.
Hon. Felix Onwuneme, a member of the Tribunal, pointed to a structural challenge: the SEC’s Administrative Proceedings Committee (APC), which must review certain matters before they reach the Tribunal, has reportedly not convened in four or five years, causing complaints to pile up.
He noted that the Investments and Securities Act (ISA) 2025 allows matters to proceed to the Tribunal if the SEC takes no action within 60 days, but said the APC’s inactivity still affects case volumes and investor confidence, since the SEC’s investigative capacity is needed to properly vet complaints beforehand.
Tunde Omolegbe, the 11th President of the CIS and a part-time member of the IST, urged the Tribunal to take a more active role in stockbroker gatherings, saying closer engagement would help both institutions understand each other’s roles and address shared challenges.
The visit closed with an exchange of gifts, as both institutions reaffirmed their commitment to working together to develop and protect Nigeria’s capital market.
