By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The board of trustees of Nigeria’s investor protection fund (IPF) has appointed Lawrence Fubara Anga as its vice chairman.
The Nigerian stock exchange (NSE) said Anga was appointed following the board of trustees first meeting of the year held on January 31, 2014.
Anga is a partner at AELEX, a leading commercial and litigation law firm. He heads the financial services and transportation practice groups. He has a strong multi-disciplinary background in law, economics, management and fiscal policy and is qualified to practice law in Nigeria, England and Wales and in Ghana.
He was a contributor to the chapter on Nigeria for the Harvard securities project and chairman of the CBN SMIES policy guidelines review committee.
Anga is a past chairman of the capital market solicitors association and a member of various ad-hoc committees established by the ministry of finance and the securities and exchange commission.
Also, he was a past member of the presidential policy advisory committee where he was a member of the sub-committee on finance and investment. He appears as counsel before all superior courts of record in Nigeria and Ghana and has acted as a party appointed arbitrator on several arbitration panels. Anga is a fellow of the chartered institute of taxation.
On Wednesday January 22, 2014, the NSE received the Nigeria’s SEC approval of the investor protection fund rules.
This development had given the board of trustees of the IPF to carry out the duties for which the Fund was established, in line with the investment and securities act (ISA) 2007 and the approved Rules.
Gamaliel Onosode’s chairman BOT of the IPF had said it intends to pay the first batch investors whose claims have been verified, by January/February 2014 and then continue the investigation and verification process for the remaining claims.
The IPF was established in line with the provisions of part XIV of the Investment and Securities Act (ISA) 2007, (CAP 124, LFN, 2004) with about N625 million in its accounts.
