Practice Note On Appeallate Proceeding At The Ist

Introduction

• As part of the federal government reform agenda for the Nigerian Capital Market to provide an adjudicatory framework and make statutory provisions for predictability and certainty in dispute resolution, the Investment and Securities Tribunal (“IST”) was established as an independent specialized judicial body under section 274 of the Investment and Securities Act 2007 (“ISA 2007”)¹ to adjudicate Capital Market disputes and to interpret any law, rule, or regulation as may be applicable to capital market transactions and relationships.
• The IST Rules 2014 provides two ways of commencing proceedings before the Tribunal as follows:
  • Notice of Appeal;² and
  • Originating Application to the Tribunal.³