Wednesday, August 02, 2017 2.00pm/Proshare WebTV
The Federal Government yesterday approved the appointment of Mr Isiaka Isaiah Idoko as Chairman/CEO of the Investments and Securities Tribunal.
Apart from Mr Idoko nine other members were appointed into the IST as full and part-time members respectively.
Full time members are Mr Jude Udunni, Mr Nosa Osemwengie, Mr Abubakar Ahmed and Mr Albert Otesile.
Part-time members include Mr Emeka Madubuike, Mr Kasumi Garba Kurfi, Mr Edward Ajayi, Mr Onyemachi Elujekor and Mr Mamman Bukar Zargana.
Mr Idoko a native of Kogi State is a lawyer and worked with the Securities and Exchange Commission (SEC Nigeria), where he served as Director before retiring in 2006.
The Investments and Securities Tribunal (IST) is an independent specialized judicial body, originally established under Section 224 of the now repealed Investments and Securities Act (ISA) No. 45 of 1999, but currently having its enabling statutory provision under Section 274 of the Investments and Securities Act No. 29 of 2007.
It is vested with the onerous responsibility of interpreting the ISA and adjudicating on disputes and controversies in capital market transactions.
As a Tribunal, the IST combines the rule of law applicable in traditional law courts with the responsiveness, flexibility, speed and cost effectiveness associated with specialized courts and alternative disputes resolution (ADR) systems.
The Tribunal has specialized knowledge of the capital market/securities and pension’s law and operations due to the varied technical and operational skills of its members and staff which it applies in deciding each case brought before it.
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