How we Beat Other Courts in Justices Delivery – TheNigerialawyer

The Investments and Securities Tribunal (IST), a tribunal set up
by the federal government to adjudicate disputes arising from
capital market.

transactions has noted that through innovations matters are
resolved in the tribunal thereby boosting confidence in the
sector.

The IST Chairman/CEO, Mr. Siaka Isaiah-Idoko-Akoh who made the
assertion when shedding light on the challenges and achievement of
the tribunal, said the tribunal had delivered 70 judgments within
the two years of its inauguration.

Akoh said the tribunal had surpassed any other court in Nigeria
in the aspect of dispensation of justice.

According to him, “IST has handled about 90 cases. The present
tribunal inherited about 54 cases and all have been properly
handled in less than one year plus other new ones which have also
been handled. It is on record, go anywhere in this country there is
no court that has achieved this feat.

“Judgments of this tribunal are well written such that we only
have very few appeals that have been filed against this tribunal.
Over 70 judgments have been passed within a period of two years of
its inauguration. This is a feat no ordinary court has achieved so
far.

“So we have been living up to the mandate and the market is
happy about this. The stakeholders, NSE, SEC, and CSCS have all
recognised this and this is what is helping to promote the Nigeria
capital market.”

To achieve all these feats, he said the tribunal had to
introduce some new trends. Preliminary applications most times
delay cases, “so we don’t take such motions.”

“Another trend that is assisting us, is that of taking a date of
judgment on the day parties are closing their cases then we will
then choose a date when written addresses will be deemed adopted.
In the normal court, after filing for a written address, they will
adjourn for the adoption of written addresses before date for
judgment.

“Another innovation is taking proceedings in e-recordings, we
have automated transcribers; if you want soft copies of proceedings
you’ll get it, we don’t do manual. We also have a new trend of
taking electronic hearing, e-hearing to give evidence.

“We will be seeing you and you answering questions from any part
of the world where you are. You can give your evidence and it will
be taken which means a foreigner anywhere he is, is happy that even
without his presence or coming down to incur transport or
accommodation expenses, his case will be handled. This is a new
feat that is not obtainable in any court in the country.”