The federal government on Thursday tasked the Investment and Securities Tribunal to avoid previous pitfalls which had tended to blur its modest achievements.
While Azi was appointed for the first five-year term, Osemwengie was re-appointed for a second and final term of four years. Congratulating both of them for being found worthy by the president to be appointed to the highly exalted positions, she noted: “Your appointments have come at a time when all hands are needed to build our economy. As you all may be aware, the IST was first inaugurated in December 2002. It is a specialised fast-track court, established for the settlement of disputes in the capital market.”
The minister recalled that since its establishment, the tribunal had made some strides, particularly in its adjudicatory role which has gone a long way to sanitise the capital market and build investors’ confidence. “We may recall that in November 2015, the Tribunal was dissolved and the chairman and its members relieved of their jobs. A new panel of the tribunal, which includes many of the members here seated, was inaugurated in 2017.
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