By MICHAEL EBOH

Chartered Institute of Stockbrokers, CIS, said it has repositioned its Disciplinary Tribunal to help advance in its mandate of regulating the conduct and behaviour of stockbrokers in the Nigerian capital market.

Speaking during the inauguration of Honourable Justice Adesola Oguntade, a retired judge of the Supreme Court of Nigeria, as the Legal Assessor of the Disciplinary Tribunal of the CIS in Lagos, the President/Chairman of Council, CIS, Mr. Mike Itegboje disclosed that its decision to instill discipline in its members was borne out of the need to restore the confidence of investors in the market.

He said that the Disciplinary Tribunal is one of the machineries, CIS uses to regulate the conduct of its members.

According to him, the Institute, with proactive management was determined to review the processes of regulating the conduct  of its members in order to restore investors’ confidence in the Nigerian capital market.

In doing this, Itegboje said the Institute decided to reposition the Disciplinary Tribunal for speedy dispensation of the cases before it and making its directions credible and watertight.

He explained that to achieve this, the management of CIS guided by the statue that established it, requested the Honourable Attorney General for the Federation and Minister of Justice, Mohammed Bello Adoke, to nominate Legal Assessor for the Institute.

He said, “Hence, Oguntade was nominated as the Legal Assessor. We   are therefore happy to have him as our assessor. The Tribunal already has a Senior Advocate of Nigeria (SAN) as a prosecutor but we needed a justice as an Assessor.

“We welcome him on Board and we believe he will assist to dispense justice faster and fairly in order to restore investor confidence in the market,”.

Responding, Oguntade said that  he was glad to be part of the  setting , adding  that the role would enable contribute his own quota to the growth of the capital market  in particular and nation’s economy in general.

“As an Assessor, I will guide you to see that the procedure and conclusions are in accordance with the law. I pledge to give the best of my ability and I promise to elevate all the standards you are used to,” he said.