March 16, (THEWILL) — The Federal Government of Nigeria has pledged to support the development of Ethiopia’s emerging capital market by sharing its legal and institutional framework for resolving investment disputes.
The Chairman of the Investments and Securities Tribunal (IST), Aminu Jinaidu, gave the assurance when he received the Ethiopian Ambassador to Nigeria, Legesse Geremens Haile, during a courtesy visit in Abuja.
Jinaidu assured the envoy that the Tribunal would do everything within its capacity to assist Ethiopia in strengthening the legal mechanisms needed to support a stable and credible capital market.
Speaking earlier, Haile disclosed that Ethiopia had recently established a capital market system, including the Ethiopian Securities Exchange and the Ethiopian Capital Market Authority, to safeguard investor interests and support economic development.
He explained that investors require strong institutions capable of receiving and resolving complaints in a timely and transparent manner, noting that this informed Ethiopia’s decision to approach the Tribunal to understudy the legal framework through which disputes arising from investments in the Nigerian capital market are resolved.
The ambassador commended the Tribunal for its contributions to maintaining order and investor confidence in the Nigerian capital market and expressed optimism that both countries could soon formalise cooperation through a Memorandum of Understanding.
Haile noted that with the implementation of the African Continental Free Trade Area (AfCFTA), African countries must collaborate more closely in the spirit of Pan-Africanism to strengthen economic integration and investment flows across the continent.
He also reiterated Ethiopia’s interest in deepening both political and economic relations with Nigeria, expressing confidence that lessons drawn from Nigeria’s experience would assist his country in developing credible and efficient capital market institutions.
Responding, Jinaidu welcomed the request and assured that members of the Tribunal, who sit as judges during proceedings, would be available to support Ethiopia whenever necessary.
Also speaking during the engagement, a member of the Tribunal, Umahanni Amin, pledged her support, offering to share her expertise in Islamic financing, which she identified as her area of specialisation.
A highlight of the Ethiopian envoy’s visit was his attendance at a live court session, where he observed firsthand how the Tribunal conducts its proceedings and resolves investment-related disputes.
The Investments and Securities Tribunal is a specialised adjudicatory body established to resolve disputes arising from activities in Nigeria’s capital market within 90 days, a process aimed at enhancing transparency and strengthening investor confidence in the financial system.
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