AN APPRAISAL OF THE LEGAL FRAMEWORK FOR DISPUTE RESOLUTION IN THE NIGERIAN CAPITAL MARKET

Abstract This study examines the legal framework for dispute resolution in the Nigerian capital market with a focus on the level of awareness, effectiveness, and challenges affecting dispute resolution mechanisms among residents of Maiduguri. The research adopted a survey method, using a structured questionnaire administered to investors, financial practitioners, and knowledgeable individuals. Data collected were analyzed using descriptive statistics. Findings revealed that while institutions such as the Securities and Exchange Commission (SEC) and the Investments and Securities Tribunal (IST) exist, awareness and utilisation of these mechanisms remain low in Maiduguri. The study also identified slow processes, weak regulatory enforcement, limited investor education, and overlapping jurisdiction as major challenges. It concludes that although the legal framework appears adequate, its practical implementation requires significant improvement. Recommendations include increased public awareness, stronger enforcement, technological enhancement, and improved institutional coordination to make dispute resolution more effective and accessible.