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Investment and Securities Tribunal seeks collaboration with Enugu Govt

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From Sylvia Udegbunam, Enugu

The Investments and Securities Tribunal (IST) is seeking to collaborate with the Enugu State government in areas of mutual interests that would contribute to the ease of doing business and boost economic activities by encouraging people to invest in the state.

This development was disclosed on Thursday by the Chairman, Barr.

Amos Azi, when he led a delegation of the tribunal on a courtesy visit to the Enugu State governor, Dr.
Peter Mbah, at the Government House, Enugu.

The IST Chairman, who expressed delight over the victory of the governor at the Supreme Court, further commended his administration for the laudable achievements recorded in less than one year in office.

According to him, the IST is a specialized fast-track civil court established pursuant to section 274 of the Investments and Securities Act 2007 for the resolution of disputes arising from investments and securities transactions in the Nigerian Capital Market as part of the Federal Government’s reform initiative for the financial sector.

While stating that the Enugu Zonal Office was established in 2009 with a view to reducing costs to prospective litigants and creating affordable access to justice, considering the strategic and unique role the state has been playing in the zone, the Chairman bemoaned that its zonal office had been operating in a rented residential apartment with perennial increment and other costs.

“The Tribunal has since its inception in Enugu adjudicated over 30 cases with a collective monetary value of about ₦1.2 billion, and it is hoped that with an adequate enabling environment and stakeholders engagement, the Tribunal is likely to witness a deluge of cases, which will serve to address the concerns of many investors thus boosting economic activities not just in Enugu State but the entire South East geo-political and economic zone,” he added.

He also called on the people of the state and the entire zone to consider investing in the capital market as that would expand their economic base, saying acquiring shares in performing companies would yield good dividends for them.

Reacting, Governor Mbah reiterated the administration’s commitment to partnering with every institution that would add value to the state, adding that Enugu State had been supporting a large number of federal agencies operating in the state over the past years.

Governor Mbah, who was represented by the Deputy Governor, Barr Ifeanyi Ossai, assured of continuous collaboration with the tribunal and other agencies as the relationship would foster economic and investment justice, reinforce investor’s confidence and facilitate quick resolution of disputes.

“This courtesy call exemplifies our commitment to fostering collaboration and promotion of investment justice. It also speaks to our fidelity to investment agreement, honest and quick resolution of investment disputes, financial and economic stability especially as we work assiduously to grow the economy of our state from $4.4 billion to $30 billion,” he maintained.

Governor Mbah called on investors to see the state as the most investor-friendly state with the recent reforms in all the MDAs that would encourage the ease of doing business.

“Our administration remains steadfast in creating an environment conducive to investment, and the insights shared during this engagement will undoubtedly contribute to the formulation of policies geared towards making Enugu State the choice destination for investors,” the governor added.

NEWS

Public Disturbance: Court Orders Kano TikToker to Undergo Mental Evaluation

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A Kano State Shari’a Court on Tuesday, ordered that a Kano Tiktoker Murja Kunya, be taken to a Government hospital for a mental evaluation.

The defendant, who lives at Tishama Hotoro Quarters Kano, is standing trial on a three-count charge of inciting  public disturbance, belonging to criminal gang and criminal intimidation.

Delivering a ruling, the Judge Malam Nura Yusuf-Ahmad, ordered that the defendant be taken to public hospital to ascertain her mental health due to suspected drug influence.

“The defendant previous appearance shows she is allegedly not in a sound state of mind due to suspected drug influence.

” Hisbah board should be updating the court time to time on her well-being for three months”

Yusuf-Ahmad  adjourned the matter untill May for hearing.

Earlier, the Prosecutor Prosecution Counsel, Mr Aliyu Abideen, said Kano State Hisbah Board arrested the defendent after receiving several complaints from members of the public.

He alleged that the defendant usually terrorize Tishama Hotoro Quarters Kano by bringing bad boys at midnight and  also disturbs the area by inciting disturbance and using social media to disturb members of the public.

“The defendant in one of her videos on Tiktok which went viral said she is the leader of all prostitute in the city”

The defendant, however, denied committing the offence.

According to the prosecutor, the offence contravened section 341, 275 and 227 of Kano State Shari’a Law.(NAN)

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NEWS

NAF Nabs Alleged Notorious Kidnapper in Kano

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Troops of the Nigerian Air Force (NAF) deployed at Durbunde in Takai Local Government Area  of Kano State have apprehended a 35-year-old alleged high-profile kidnapper known as Isah Abdul.

This is contained in a statement by NAF’s Director of Public Relations and Information, AVM Edward Gabkwet, on Tuesday in Abuja.

Gabkwet said that the arrest was carried out on Monday at 6.

30 p.
m. in a well-coordinated operation following credible intelligence on the hideout of the suspect and other members of his gang.

He said that the gang was responsible for several kidnapping incidences in the area.

According to him, preliminary investigation revealed that Isah Abdul was responsible for the abduction of one Yakubu Ibrahim Tagaho, popularly known as Sarkin Noman Gaya, on April 6, 2023, from his residence in Tagaho Village in Takai LGA.

Gabkwet said that Tagaho was released a month later after a ransom of N30 million was collected by his abductors.

“In December 2023, the same criminal abducted two sisters and three others in the same village and released them after collecting a huge ransom.

“He is also responsible for several other kidnapping activities as he has strong ties with  other known kidnapping gangs like the Danbul Fulaku gang that also operates in Takai LGA.

“Isah Abdul is currently in the custody of the Nigerian Air Force and undergoing investigations.

“He will soon be handed over to appropriate authorities,” he said. (NAN)

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Foreign News

Palestinian Death Toll in Gaza Rises to 29,195 Amid Israeli Attacks

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The death toll in the Gaza Strip has risen to 29,195 with 69,170 others wounded as the Israeli attacks continue, The Gaza-based Health Ministry said on Tuesday.

The Israeli army had killed 103 Palestinians and wounded 142 others in the Strip during the past 24 hours, the ministry said in a press statement.

It was noted that some victims remained under the rubble amid heavy bombardment and a lack of civil defence and ambulance crews.

Meanwhile, Israeli media outlets said the Israeli army forces were continuing their operations in the north centre and south of the Gaza Strip against Hamas, and have killed many fighters.

The Israeli army announced the death of a 22-year-old soldier as a result of his wounds in the Gaza battles.

The death of the 22-year-old soldier raised the death toll of Israeli soldiers killed in the ground operation to 236.

In addition, the Israeli army revealed a video of Israeli detainees alive in the first days of their detention in the Gaza Strip on Monday.

The video was showing a woman and her two children wrapped in a blanket, taken by gunmen in Khan Yunis, south of the Gaza Strip.

The Israel Defense Forces (IDF) Spokesman Daniel Hagari said that the family had been kidnapped by an organization calling itself the “Mujahideen Brigades.” (Xinhua/NAN)

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