LEGAL ROLES OF THE INVESTMENTS AND SECURITIES TRIBUNAL IN RESOLVING CAPITAL MARKET DISPUTES IN NIGERIA

Abstract

Dispute is a natural phenomenon and our societies are replete with disputes the world over. As there are disputes so are there also mechanisms for determining disputes. The investments and securities market has had its own fair share of disputes. The importance of the capital market to the growth of a nation cannot be overemphasized. One sure way of measuring the economic health of a nation is the robustness of its capital market. This work studied the legal roles of the IST in resolving disputes within the Nigerian capital market. The article examined the statutory mandate of the IST its jurisdiction and its effectiveness in providing specialized, timely, and accessible adjudication of disputes arising from investments and securities transactions. It further examined the constitutional issues of the IST as a superior court of record even though it is not listed in the constitution. The dissenting views to the status of the IST and the recent Supreme -Court decision heralds a new dawn for the IST. The objective of this article was to explore the legal roles of the IST in resolving capital market disputes vis-a-vis it’s exclusive jurisdiction to adjudicate on disputes arising from investments and securities transactions in Nigeria. The IST is the court imbued with the legal authority to adjudicate on securities in Nigeria. However, challenges such as jurisdictional conflicts, enforcement limitations, lack of awareness, - lack of up-to-date procedural rules and underfunding continue to plague the effectiveness of the IST.