Rivers govt charges IST to restore confidence in stock exchange

Emmanuel Nlewedum, Port Harcourt

The Rivers State Government, RSG, has tasked members of the Investment and Securities Tribunal (IST) to restore the confidence of Nigerians in the Capital Market.

The Secretary to Rivers State Government, Dr. Tammy Danagogo gave the charge when members of the IST, led by its Chairman, Hon Amos Azi, paid him a courtesy visit in his office on Friday.

Danagogo regretted that many Nigerians have lost hope in the Capital Market following its collapse with no recourse to retrieve funds or make stock brokers accountable to give dividends.

The SSG maintained that the huge potentials for wealth creation through the stock market is still enormous, while calling on the IST to work assiduously to restore the optimism of Nigerians through its mission and provide efficient resolution of capital market disputes with fairness, flexibility, transparency and without fear or favour.

Speaking, the Chairman of the Investment and Securities Tribunal, Hon. Amos Azi informed that the Tribunal was set up to promote financial market integrity and stability in the economy.

He noted that the Tribunal has exclusive jurisdiction to matters relating to the capital market and its Port Harcourt office, being one of the three offices across the geo-political zones, has served the South-South region since 2009.

In another development, Dr Danagogo has called on the Federal Character Commission in the State to ensure and follow-up Rivers State quota fulfilment by Rivers indigenes in Federal Government establishments.

The SSG made the call when the State Director of the Commission, Dr. Danny Kika Pollyn paid him a courtesy visit.

He observed that many Rivers State indigenes are short-changed in opportunities meant for them and urged him to certify that the State’s quota is properly filled by Rivers people.

He further explained that if the FCC informs the government of available vacancies it will enable the state carry out sensitization exercises.