Vice President Kashim Shettima has cautioned that an inefficient and underperforming judiciary could jeopardise Nigeria’s quest to build a resilient and credible capital market capable of attracting long-term investments and catalysing economic growth.....KINDLY READ THE FULL STORY HERE▶

Delivering his remarks through his Special Adviser on Economic Affairs, Dr. Tope Fasua, at the 2025 Judges’ Workshop organised by the Securities and Exchange Commission (SEC) in Abuja, Shettima underscored the pivotal role of the judiciary in safeguarding investor trust by ensuring timely, impartial, and technically sound dispute resolutions.

Themed “Repositioning the Nigerian Capital Market for National Economic Transformation through Effective Dispute Resolution,” the workshop brought together judicial officers, regulators, lawmakers, and financial sector experts to explore the role of the judiciary in capital market development.

According to Shettima, a capital market is not merely a trading arena—it serves as a vital engine for financing infrastructure, supporting small businesses, fostering innovation, and driving national development.

He stressed that Nigeria’s capital market is especially crucial for diversifying the economy away from oil dependence, promoting indigenous industrialisation, and enhancing financial inclusion.

“For any capital market to thrive, one key element is non-negotiable: trust,” he said. “Investors—whether domestic or foreign—will only stake their funds where they are assured of security, transparency, and the protection of their rights.”

Shettima warned that judicial delays, inconsistent rulings, and limited technical knowledge could create systemic risks that repel investors. He therefore advocated for the adoption of alternative dispute resolution (ADR) mechanisms such as arbitration and mediation to ensure quicker and more context-specific resolution of financial disputes.

“While litigation remains vital, embracing ADR can ease the burden on our courts and offer flexible, effective solutions suited to the complexities of capital markets,” he noted, urging judicial officers to deliver judgments that inspire confidence in Nigeria’s investment climate.

SEC Director-General, Dr. Emomotimi Agama, described the newly enacted Investments and Securities Act 2025 as a groundbreaking reform. He said the law introduces stiffer penalties for market infractions, tighter governance standards for listed companies, and streamlined dispute resolution procedures.

“With the ISA 2025, Nigeria has laid the legal groundwork for a more transparent, efficient, and globally competitive capital market,” Agama said, adding that the workshop was part of SEC’s effort to ensure judicial stakeholders fully understand the law’s provisions.

He emphasised that judicial interpretation of the new Act will be crucial in setting legal precedents and shaping future market conduct.

The Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun—represented by Supreme Court Justice Stephen Adah—affirmed the strategic relevance of the capital market as a tool for economic empowerment. She urged the judiciary to remain adaptable as financial markets evolve, especially with the emergence of digital assets and green finance, while maintaining respect for legal precedent.

Also speaking, the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Olanipekun Olukoyede, revealed that the commission had prosecuted 58 unlicensed entities operating fraudulent investment schemes, with some convictions already secured.

He noted the increasing sophistication of digital asset-related crimes and urged judges to continuously update their knowledge to stay ahead.

The workshop served as a strategic forum to harmonise the efforts of the judiciary, regulators, and legislators toward reinforcing the legal backbone of Nigeria’s capital market.