Oyedele Proposes Tribunal to Boost Nigeria's Capital Market

On Tuesday, Taiwo Oyedele, the Minister of Finance, proposed the creation of a specialized commercial dispute resolution tribunal during his inauguration lecture at the second biennial conference of the Capital Market Academy Nigeria in Abuja. He argued that the prolonged commercial litigation process, which currently averages 15 years through the High Court, Court of Appeal, and Supreme Court, creates uncertainty for investors and increases business costs, thereby weakening Nigeria's investment climate.

Oyedele's proposal includes staffing the tribunal with judges and arbitrators who possess specialized expertise in commercial, financial, and capital market matters, supported by a digital case management system and mandatory timelines to ensure speedy resolutions. He emphasized that this tribunal would complement existing investment protection mechanisms, providing businesses with faster and more predictable avenues for resolving commercial disputes.

Additionally, Oyedele urged a reevaluation of public borrowing perceptions, advocating for a focus on debt evaluation based on financial returns rather than absolute size. Emomotimi Agama, Director General of the Securities and Exchange Commission, called for stronger collaboration between regulators and academia to strengthen Nigeria's capital market.