Exclusive Jurisdiction of the Investment and Securities Tribunal Over Capital Market Disputes

The Supreme Court of Nigeria, sitting in Abuja on Friday, December 12, 2025, delivered a lead judgement by Honourable Abubakar Sadiq Umar, JSC, in case SC/967/2017. The case involved Union Bank of Nigeria PLC as appellant and the Securities and Exchange Commission (SEC) as respondent. The facts indicate that between 2007 and 2008, the appellant obtained foreign credit facilities totalling USD$270 million, equivalent to N30,477,210,000, from Merrill Lynch International and HSBC Bank Plc. The judgement addresses the exclusive jurisdiction of the Investment and Securities Tribunal over capital market disputes.

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