By Gbenga Salami
A group operating under the aegis of Plateau Democratic Movement, PDM has petitioned the Senate President, Senator Godswill Akpabio, urging him to institute an investigation into the alleged unconstitutional removal of the Chairman of the Investments and Securities Tribunal, IST, Mr Amos Azi.
The group described Azi’s reported displacement as unjust and an alleged abuse of office, calling for a thorough investigation into how another individual, Aminu Junaidu, reportedly assumed control of the Tribunal.
In a petition signed by its Chairman, Ishaya Turba, and Secretary, Iliya Mangai, and made available to journalists on Friday in Abuja, the group said Azi was appointed by President Bola Tinubu for a second term in August 2025, only for Junaidu to subsequently emerge as chairman, allegedly claiming an appointment by the Secretary to the Government of the Federation, SGF.
The PDM said the development warranted urgent scrutiny, particularly following recent revelations by the Independent Corrupt Practices and Other Related Offences Commission, ICPC concerning alleged fictitious agencies operating under the Office of the SGF.
The group expressed concern that the circumstances surrounding Junaidu’s emergence might be connected to the broader issues of questionable appointments and allegedly non-existent government agencies being investigated by the anti-corruption commission.
“As a concerned group, we are moved to write this petition following ICPC’s recent uncovering of fictitious agencies operating under the office of the SGF,” the petition stated.
It added that the reported dispute over the Tribunal’s leadership was troubling, given that Azi had allegedly secured presidential approval for a second tenure before Junaidu’s emergence.
The PDM appealed to Akpabio to investigate the circumstances surrounding Junaidu’s appointment and reported assumption of office, stressing that the Tribunal must be administered in accordance with the law establishing it.
According to the group, the IST plays a critical role in resolving disputes within Nigeria’s capital market, making the legality of its leadership essential to protecting investors and sustaining confidence in the country’s financial regulatory system.
It urged the Senate President to examine how Junaidu reportedly assumed office on October 2, 2025, despite what it described as the statutory provisions governing the appointment of the Tribunal’s chairman under the Investments and Securities Act 2025.
The group warned that any irregularity in the appointment process could undermine the rule of law, public confidence and the integrity of the capital market.
The petition follows a similar move by the Make A Difference Initiative (MADI), which petitioned the Senate on April 8 over what it described as a breach of the Investments and Securities Act 2025 by the SGF, Senator George Akume.
MADI had raised concerns over the alleged appointment of Junaidu by Akume, weeks after Tinubu reportedly approved Azi’s reappointment as Chairman and Chief Executive Officer of the Tribunal.
The advocacy group also called on the Senate to investigate Azi’s alleged removal and address what it described as an irregularity in the Tribunal’s leadership in the interest of investors and the security of the nation’s capital market.
The Senate is yet to be reported as having acted on the latest petition.
The allegations against the officials have not been independently established.
