NATIONAL PENSION COMMISSION V. CITI TRUST PENSION MANAGERS LIMITED & ORS

HAMMA AKAWU BARKA, J.C.A. (Delivering the Leading Judgment): This appeal is against the decision of the Investment and Securities Tribunal sitting in Lagos, and delivered by a panel consisting of Dr. Ngozi Chianakwalam (Chairman), Wilfred Ikatari, Salihu Shehu Usman, Ibrahim Abdul, Sanda Audu Yelwa and Usman Babura as members.

The judgment which was delivered on the 29th January, 2014 granted part of the 1st Respondents claim. It should be noted that the 1st Respondent Citi Trust Pensions Managers Ltd, were the applicants before the tribunal. At the end of trial, the lower tribunal conclusively held and ordered that:-

"In the light of the foregoing, we find that 1st Respondent has established the likelihood that the Applicant committed infractions of the Pension Reform Act, the guidelines regulations and rules made by the 1st Respondent/Counter Claimant in the administration of pension fund in Nigeria. However, for the overriding interest of justice, it is rather premature for us to mak…