Nigeria’s Investments and Securities Tribunal (IST) has offered to share its expertise in investment dispute resolution with Ethiopia, as the two countries explore deeper cooperation in capital market development.
The pledge was made when Ethiopia’s Ambassador to Nigeria, Legesse Geremens Haile, paid a courtesy visit to the IST Chairman, Aminu Jinaidu, at the Tribunal’s headquarters in Abuja.
Jinaidu assured the ambassador that the Tribunal would deploy its institutional capacity to help Ethiopia’s nascent capital market establish firm regulatory foundations. He said the IST’s members, who serve as adjudicators during proceedings, stood ready to extend technical support to Addis Ababa whenever required.
Ambassador Haile, in his remarks, said Ethiopia had taken significant steps in building its capital market architecture, including the establishment of the Ethiopian Exchange and the Capital Market Administration. He explained that investor confidence in any market depends heavily on the existence of credible institutions capable of receiving and resolving complaints promptly — a gap his country is working to close.
“Because every investor needs assurance from institutions that can receive and respond to their complaints in a timely manner,” Haile said, noting that Ethiopia approached the IST specifically to study the legal framework through which investment disputes are handled in Nigeria.
The ambassador said Ethiopia hopes to formalise the relationship through a Memorandum of Understanding with the Tribunal in the near term. He also underscored the broader continental dimension of the visit, noting that the African Continental Free Trade Area (AfCFTA) makes intra-African institutional collaboration not just desirable but necessary.
“With the African Continental Free Trade Area coming into effect, Africans need to work together in the spirit of Pan-Africanism,” Haile said.
He praised the Tribunal’s track record and expressed confidence that the knowledge and insights gathered from the visit would inform Ethiopia’s efforts to build stronger, more credible investment frameworks.
A notable feature of the ambassador’s visit was his attendance at a live IST court session, where he observed firsthand how the Tribunal conducts proceedings and manages investment-related disputes.
Also present at the engagement was IST member Umahanni Amin, who pledged her personal support to Ethiopia’s capital market development. At the instance of the Tribunal Chairman, Amin offered to contribute her expertise in Islamic finance — her area of specialisation — to Ethiopia’s institutional building efforts.
The visit reflects a growing momentum in South-South cooperation on financial regulation, as African countries increasingly look to established peer institutions for guidance in developing their capital market infrastructure.
