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Tribunal (IST) is an independent specialized judicial body, originally established under Section 224 of the now repealed Investments and Securities Act (ISA) No. 45 of 1999, but currently having its enabling statutory provision under Section 274 of the Investments and Securities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 has jurisdiction, original and appellate, to interpret and adjudicate on all capital market and investments civil disputes as specified under the Investments and Securities Act No. 29 of 2007. In addition, Section 93 of the Pension Reform Act No. 2 of 2004 vested on the Tribunal the jurisdiction, original and appellate, to hear and determine pension disputes arising therefrom.

Section 274 of ISA 2007 states that:

“There is established a body to be known as the Investments and Securities Tribunal (in this Act referred to as ‘the Tribunal’) to exercise the jurisdiction, powers and authority of the Tribunal conferred on it by or under this Act”.

The IST is vested with the onerous responsibility of interpreting the ISA and adjudicating on disputes and controversies in capital market transactions.

The concept of IST, though novel, is not peculiar to Nigeria. In the U.K., there is the Financial Services and Markets Tribunal (FSMT), and in India, the Securities Appellate Tribunal (SAT), and the Hong Kong amongst others.

It is however, pertinent to note that the Tribunal is the first and only one of its kind in Africa.

The Tribunal 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.

The Tribunal has a Technical & Operations Department and a Legal Services Department responsible for world-class technical and legal research support services in addition to other external expert advice obtained as the need arises. The Tribunal is not bound strictly by the rules of evidence applicable in traditional courts.

Another fundamental difference between the Tribunal and other traditional law courts is that each party could represent himself or appoint a representative who is not a legal practitioner.

Procedure before the Tribunal is regulated by the Investments and Securities Act No. 29 of 2007 and the Investments and Securities Tribunal(Procedure) Rules 2003.

MY PRACTICE AREAS

Family Law

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Business Law

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Trust & Estates

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Civil Litigation

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Civil Litigation

Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum.

Family Law

Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum.

Civil Litigation

Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum.

Family Law

Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum.

What makes me qualified?

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  • How we can help you?

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– 1987, Opening

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– 1996, 30 fresh new people

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– 2014 , We’re in Tokyo!

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– 2014 , We’re in Tokyo!

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“Every mountain top is within reach if you just keep climbing.”

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