Enugu Govt assures partnership with Investment and Securities Tribunal,  calls for sensitization , investment in capital market

Enugu state Government has assured partnership with  the Investment and Securities Tribunal(IST) calling  on the Tribunal to sensitize members of the public on the need to invest in Capital market, and the processes of the Tribunal in carrying out it’s mandate of protecting businesses to maintain investors’. ‘confidence.

Deputy Gov Ossai

The state Governor , Dr. Peter Mbah made the call , Thursday, January 11,  when he received delegation of the Investment and Securities Tribunal, led by the Chairman, Amos Azi, who paid him a courtesy visit in Enugu. 

Represented by the Deputy Governor, Ifeanyi Ossai, Governor Mbah urged the Tribunal to help build structures that will outlive each other and sensitise the people of the south east on their job to enable businesses to thrive and create employment opportunities for  Youths.

 Azi standing

He said, “we need  your help because our people are highly  industrious.  Go to wherever in the South East ,you see huge capital trade. Volume of trade is huge in terms of what is going on. But we need you to help us in  sensitising  our people  to building structures that can outlive all of us , so that these businesses will keep self sustaining  each other, creating an opportunity for our people to gain employment and also create wealth”.

 He promised that  the state government will work with the Tribunal, and support it to build the zonal headquarters in Enugu. 

He commended them for choosing Enugu state as venue for their 2024 retreat, noting that Enugu is a cosmopolitan city and  committed to keep  being a good host.

Pix- Tribunal team and the Deputy Governor

Earlier, the Chairman of the Investment and Securities Tribunal, Amos Azi told Governor Mbah that the tribunal has as its mandate the expeditious determination of cases brought before it within a period of three (3) months from the date of commencement of the hearing of the substantive suit, with a view to build and maintain investors ‘confidence.

He  said, as the administrative headquarters of the South East, and a conducive environment created by the state government, the tribunal chose Enugu for its 2024 retreat.

 The chairman added that they were in Enugu to extend hands of partnership to the State Government and to appreciate the state government for it’s support to the tribunal. 

” We are an  Investment and Securities Tribunal , the only court in Nigeria that has jurisdiction to determine disputes ,arising from transactions in the Nigerian Capital market, disputes in  buying and selling of shares,, if you have problems with that. If you have problems with the  status of your holdings, if you have complaints about the statements,  about the  accounts of public complaints and things like that. So, the tribunal has been created to specifically deal with such issues within three months.The memberships comprise of experts  in World Capital Market Law  and Practice” Azi said.

 He urged people to invest in Capital market saying that   Investment in  capital markets is beneficial. “In any Investment you do you expect a reward( Dividends) If you have problems, you approach the tribunal and you are sure that within three months ,you will get justice.  I urge companies to go public so that people can subscribe,” he said..

The  Chairman explained that  the status of the tribunal  is equivalent to a federal  High court and it’s decisions can only be appealed at the court of Appeals.

Author: Maureen Ikpeama

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