August 3, 2020

Buhari appoints Azi new chairman of IST

President Buhari approves deployment of Permanent Secretaries

President Muhammadu Buhari

President Muhammadu Buhari

By Michael Eboh

President Muhammadu Buhari, Monday, appointed Barrister Amos Isaac Azi, as the new Chairman/ Chief Executive Officer of the Investments and Securities Tribunal.

In a statement by the IST in Abuja, prior to his appointment, Azi was a staff of the Securities & Exchange Commission (SEC).

According to the tribunal, his appointment, which would take effect from July 17, 2020, is for an initial period of five years, in accordance with the provisions of Sections 275(2) and 277(1) of the Investments & Securities Act (ISA), 2007.

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The president, the statement noted, also approved the reappointment of Barrister Nosa Osemwengie as Full Time Member of the Investments and Securities Tribunal, for a second and final term of four years.

His appointment, the IST said, was in accordance with the provisions of Section 277 (2) of the Investments & Securities Act (ISA), 2007 and would take effect from August 1, 2020.

Buhari, had in September 2019, sacked the Mr. Siaka Isiah Idoko-Akoh as Chairman of the IST and appointed a senior official of the tribunal, Mr. J. I. Udunni, as his replacement.

Idoko-Akoh’s disengagement came via a circular signed by the Permanent Secretary Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse.

The circular read, “I write to convey the approval of Mr. President for your removal from office as the Chairman of the Investment and Securities Tribunal (IST) with immediate effect.

“Accordingly, you are required to hand over the office of the Chairman including all properties of the IST in your custody to Mr. J. I. Udunni, a full-time member of the Tribunal, who by this same letter from the State House has been appointed as Acting Chairman of the IST.”

Vanguard News Nigeria