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Investment tribunal adjudicates 300 cases

By Vincent Ujumadu

Awka -The Investment and Securities Tribunal (IST), says it has so far adjudicated on about 300 cases, worth over N100 billion since its establishment six years ago.

Chairman of the tribunal, Dr. Nnenna Orji said at the inauguration of the Anambra state office of the tribunal in Awka, that IST became necessary because the capital market was critical for stabilizing the nation’s economy and be in a position to nip in the bud in a decisive and timely manner, the unwholesome developments in the market when it is poorly managed.

Essentially, IST adjudicates on such matters as misappropriation of client’s money by market operators, non–remittance of issue of proceeds by an issuing house to the issuer, non  remittance of dividends by a Registrar, public company or stock broker, late transfer and registration of shares by any stock broker.


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