Judiciary key to FDI, says CJN

The Chief Justice of Nigeria (CJN) Justice Mahmud Mohammed has said that the ability of the Federal Government to access foreign direct investment is predicated on an efficient judicial system.

Th CJN made this observation while delivering the keynote address at the annual workshop for judges on legal issues in the capital market organised by the Securities and Exchange Commission (SEC) in Abuja on Wednesday.

According to the CJN, who was
represented by Justice Ibrahim Tanko Mohammed, “The efficiency of the judicial system has a direct impact on the drive for foreign investment.”

The best way to achieve this laudable objective, he said, is “For all hands to be on deck to ensure the independence of the judiciary and that judicial officers have all they require to work with, such as adequate facilities, sufficient budgetary allocation, capacity building and continuous professional development amongst others.”

The workshop, he said will also afford judges “the opportunity to become better acquainted with other trending issues in the industry such as the precise role of the Securities and Exchange Commission in the current reforms, the need for regulatory reforms in the capital market, corporate governance and the law and procedure of the investments and securities tribunal, the impediments militating against the Nigerian Securities market and the role of the judiciary in addressing these challenges.”

Speaking earlier, the Director General of the SEC, Mounir Gwarzo, said the judiciary’s important work impacts market integrity, investor confidence, market development and market fairness.

He noted that without fair, prompt and effective dispensation of justice, the capital markets can never develop.

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