Federal Government has reconstituted the Investment and Securities Tribunal as a practical step towards restoring investors’ confidence in the capital market and repositioning it to contribute positively to the country’s economy.
The tribunal was dissolved in compliance with the Federal Government’s directive on dissolution of boards of parastatals, agencies, institutions and government-owned companies conveyed in circular Ref. No. SGF.19/S:18/XIX/964 dated October 16, 2015.
The reconstitution and inauguration of the IST is expected to enhance its effectiveness and efficiency in handling the daily rising number of new cases in the capital market. The reconstituted 10 man tribunal, which has Siaka Isaiah Idoko as the chairman, was inaugurated on Tuesday by the Minister of Finance, Mrs. Kemi Adeosun.
Speaking at the inauguration, the minister said the delay in reconstituting the tribunal was to enable the government to carefully overhaul the system and ensure that credible, competent and experienced people were brought in to effect the desired change