Complaints Management Framework
The view of the Association of Issuing Houses of Nigeria (AIHN) is that customer complaints should be handled directly by the Securities and Exchange Commission “SEC” where they are not resolved by the Operators within the timelines prescribed by the framework. This approach is primarily to manage the efficacy and independence of the complaints resolution process given that the AIHN members and executives are operators who are also active in running their businesses and may also be the subject of some of the customer complaints. The process of the Complaint Management System is as follows: a) Setting up of an Ethics and Disciplinary Committee saddled with the responsibility of hearing complaints brought against our members by its clients and disputes between our members; b) Appealing against the decisions of the Ethics and Disciplinary Committee shall lie to the Appeal Committee of the Executive Council of the Association. This appeal shall be made within 14 days after the decision was made by the Ethics and Disciplinary Committee; and c) Appealing against the decision of the Appeal Committee should lie to the Administrative Proceedings Committee of Securities and Exchange Commission.