A group, Plateau Democratic Movement, (PDM), has petitioned the Senate President, Godswill Akpabio, to set up a committee to investigate the alleged “unconstitutional dislodgement” of the Chairman of Investments Securities Tribunal (IST), Mr Amos Azi from office.
The groupโs Chairman, Ishaya Turba and Secretary, Iliya Mangai, in the petition signed and made available to newsmen on Fiday in Lokoja, Kogi, North Central Nigeria, described Azi’s removal as “Unjust and an abuse of office.”
The PDM said that Azi was appointed in August 2025 by President Bola Tinubu for a second term only for one Aminu Junaidu to surface and took over the office alleging that the Secretary to the Government of the Federation (SGF) appointed him.
The group said that with the recent discovery of fake agencies and appointments, “there is need for the Senate to probe and questioned the sudden coming in of Mr Aminu Junaidu as IST Chairman shortly after Azi secured a second tenure duly approved by Mr President.
“As a concerned group, we are moved to write this petition following ICPCโs recent uncovering of fictitious agencies operating under the office of the SGF.
โWe have been following and monitoring recent events concerning fake agencies and fake chief executives of those agencies by ICPC.
โWe believe the issue of fake appointment and fake agencies is related to what recently happened at the IST.”
PDM described as unfortunate a situation where Azi, who was duly appointed by the presidency, found himself dragging his position with junaidu.
“We are appealing for an urgent and thorough investigation into the circumstances surrounding the emergence of Aminu Junaidu as Chairman of the Investments and Securities Tribunal (IST) and the circumstances surrounding his reported assumption of control of the tribunal,” the group added.ย
“Our concern is borne out of the conviction that the IST, whose mandate is to resolve capital market disputes, must be headed and administered strictly in accordance with its enabling law.
“Therefore, any irregularity concerning its leadership has the potential to undermine public confidence, the rule of law, and confidence in Nigeriaโs capital-market regulatory framework.
“We hereby urge Mr Senate President to urgently investigate how Junaidu assumed the office on Oct. 2, 2025 under alleged controversial circumstances.
โThis development immediately raised serious concerns because the statutory framework governing the appointment of the chairman of the tribunal is specifically prescribed in the Investments and Securities Act (ISA) 2025.”
It could be recalled that a prominent advocacy group, Make A Difference Initiative (MADI), had on April 8 petitioned the senate over what it described as “a breach of the Investment and Securities Act 2025,” by the SGF, Sen. George Akume.
MADI’s petition, addressed to Senate President Godswill Akpabio, highlighted concerns arising from what it described as the “illegal appointment of Junaidu by the SGF” weeks after President Bola Tinubu had approved the re-appointment of Azi as the tribunalโs chairman and CEO.
The group had urged the senate to investigate the alleged removal of Azi and correct the abnormal in the interest and security of investors in the country.
(vitalnewsngr.com)
