Investments and Securities Tribunal Visits NASD


Friday, October 27, 2017 /7:00 PM / NASD Plc 

Representatives of the Investments and Securities Tribunal (“IST” or “the Tribunal”) on Friday, 27 October 2017 visited the office of NASD Plc (“NASD”). The Tribunal was represented at the meeting by Chief Siaka Isaiah Idoko-Akoh (Chairman) Hon. Jude Udinni, Hon. (Dr.) Ajayi, Hon. Emeka Madubuike and Hon. Sali Yerima (Chief Registar). 

Mr. Olutola Mobolurin, Chairman of the Board of NASD Plc and former member of the Tribunal while thanking the IST for the visit, recognised its role in the capital market and stressed the need for the Tribunal to remain a veritable tool for obtaining justice.

In his response, the Chairman of the Tribunal, Chief Siaka Isaiah Idoko-Akoh, expressed delight at the opportunity to meet with the NASD team and stated that the visit was part of efforts by the Tribunal to bolstering understanding and cooperation between institutions in the capital market, one of the mandates of Tribunal. He solicited NASD’s support of the Tribunal to ensure that as a mechanism for dispute resolution, the institution continues to sustaining confidence in the capital market.

The IST is an independent specialised judicial body established under the Investments and Securities Act (ISA) 29 of 2007, with original and appellate jurisdiction to interpret and adjudicate on all capital market and investments civil disputes as stated under the ISA

The Week in Review

NASD closed its trading day on Friday 27, October 2017 higher compared to last Friday. The Market Capitalisation closed the week 0.90% higher at 409.46 billion against 406.00 billion previously. The NASD USI increased by 0.90% this week, closing at 605.06 points, as against 599.94 points last Friday.

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Trade Summary

NASD OTC Securities Exchange currently trades Equity and Bonds. Of the 34 securities admitted to trade on the OTC Market, Central Securities Clearing System PLC and Friesland Campina Wamco Nigeria PLC both led the market by volume and value.

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