By Onu Okorie
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has proposed the establishment of a specialised Commercial Dispute Resolution Tribunal to accelerate the resolution of business disputes.
The Minister who stated this while delivering his inaugural lecture as a Fellow of the Capital Market Academics of Nigeria CMAN at the association’s Second Biennial Conference in Abuja, argued that quicker justice delivery is critical to attracting long-term investment and deepening Nigeria’s capital market.
Themed “The Nigerian Capital Market as a Catalyst for Equitable and Inclusive Growth”, the lecture is prerequisite for fellows of CMAN.
He said delays in resolving commercial disputes remain one of the biggest obstacles to investment, noting that cases currently take an average of 15 years to pass through the High Court, Court of Appeal and Supreme Court.
According to the minister, prolonged litigation creates uncertainty, discourages investors and significantly raises the cost of doing business in the country.
To tackle the challenge, Oyedele proposed a dedicated Commercial Dispute Resolution Tribunal staffed by judges and arbitrators with specialised expertise in commercial, financial and capital market matters.
He said the tribunal should operate with digital case management systems and mandatory timelines to ensure the speedy resolution of disputes involving businesses, suppliers, joint venture partners and other commercial entities.
The minister explained that the proposed tribunal would complement existing investment protection mechanisms by providing a more efficient platform for resolving commercial disagreements that often delay investments and undermine investor confidence.
He stressed that virtually every financial instrument, including bonds, syndicated loans, private placements and structured notes, is built on enforceable contracts, making efficient dispute resolution essential for capital market development.
Also speaking at the conference, the Director-General of the Securities and Exchange Commission SEC, Dr Emomotimi Agama, called for stronger collaboration between regulators and academics. He said that research-driven policymaking is essential to strengthening Nigeria’s capital market and promoting inclusive economic growth.
Agama described CMAN as an important bridge between academic research and financial market regulation.
The SEC Director-General reaffirmed the Commission’s commitment to working closely with the academic community to advance knowledge, strengthen regulation and support the sustainable development of Nigeria’s capital market.
Earlier, CMAN President, Prof. Uche Uwaleke, called for stronger collaboration between academia and the financial services industry, saying closer partnerships are necessary to deepen Nigeria’s financial markets and accelerate economic growth.
He said Nigeria possesses abundant intellectual capacity within its universities and extensive practical expertise across financial institutions but lacks a structured framework to connect both sectors for national development.