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The Chairman of the Investments and Securities Tribunal, IST, Hon. Aminu Jinaidu, has assured Ethiopia of the Tribunal’s readiness to support the development of its emerging capital market through the sharing of its experience in investment dispute resolution.
Hon. Jinaidu gave the assurance when the Ethiopian Ambassador to Nigeria, His Excellency Legesse Geremens Haile, paid him a courtesy visit in Abuja. He stated that the Tribunal would do everything within its capacity to ensure that Ethiopia’s capital market stands firmly on its feet.
The IST Chairman noted that strong institutions that can effectively resolve investment disputes are essential for building investor confidence and ensuring the stability of any capital market.
Speaking during the visit, Ethiopian Ambassador to Nigeria, Legesse Geremens Haile revealed that Ethiopia has recently established a capital market system, including the Ethiopian Exchange and the Capital Market Administration, to serve the interests of investors in the country.
He explained that investors require assurance from institutions capable of receiving and addressing their complaints promptly, which informed Ethiopia’s decision to approach the Tribunal to understudy the legal framework used in resolving investment disputes in Nigeria’s capital market.
While commending the Tribunal for its achievements, the ambassador expressed hope that Ethiopia would soon sign a Memorandum of Understanding with the IST. He stressed that the collaboration aligns with the spirit of Pan Africanism, especially as the African Continental Free Trade Area takes effect.
In response, Hon. Jinaidu welcomed the request and assured that members of the Tribunal, who sit as judges during proceedings, would be available to provide support to Ethiopia whenever necessary.
Highlight of the visit was the ambassador’s attendance at a live court session, where he observed how the Tribunal conducts its proceedings and manages disputes arising from activities in Nigeria’s capital market.
PR/Umbwanko Baba
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