Ethiopia is actively studying Nigeria's specialized mechanism for resolving investment disputes to fortify its nascent capital market, build greater trust among investors, and improve overall regulatory governance.
The initiative stems from a recent courtesy visit by Ethiopian Ambassador to Nigeria, Legesse Geremens Haile, to the Chairman of Nigeria's Investments and Securities Tribunal (IST), Hon. Aminu Jinaidu, in Abuja.
During the meeting, the ambassador revealed that Ethiopian officials are keen to examine the IST's legal and institutional framework, which efficiently handles complaints and disputes arising from capital market activities.
Ethiopia has recently launched its own capital market infrastructure, including the Ethiopian Exchange and the Capital Market Authority, designed to protect and serve investor interests. However, officials stress that credible institutions capable of addressing grievances promptly are essential to reassuring investors and fostering a stable environment.
Ambassador Haile highlighted the broader context of African collaboration, noting the African Continental Free Trade Area (AfCFTA) and the spirit of Pan-Africanism as drivers for such partnerships. He expressed Ethiopia's intent to soon formalize cooperation through a Memorandum of Understanding (MoU) with the IST.
Nigeria's IST serves as a specialized adjudicatory body that resolves capital market-related disputes within a streamlined 90-day timeframe, promoting transparency and confidence. Chairman Jinaidu pledged full support, assuring that the tribunal would share its expertise to help Ethiopia's emerging market "stand firmly on its feet." Tribunal member Hon. Umahanni Amin also offered her knowledge, particularly in Islamic financing.
The Ethiopian delegation observed a live IST court session to gain firsthand insight into effective dispute management practices.
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