A leadership crisis has erupted at the Investment and Securities Tribunal, with two individuals claiming to be the chairman. The controversy began when President Bola Tinubu re-appointed Barrister Amos Isaac Azi as chairman/CEO for a five-year tenure, but weeks later, the Secretary to the Government of the Federation, Senator George Akume, announced the appointment of Barrister Aminu Junaidu to the same position.
The Make A Difference Initiative (MADI) has expressed concerns over the situation, stating that it is a direct threat to the rule of law, investors’ confidence, and the stability of Nigeria’s capital market. In a statement issued on Sunday and signed by its Executive Director, Dr. Lemmy Ughegbe, MADI stated that Azi’s reappointment followed due process and was approved by President Tinubu on August 13, 2025.
“This situation raises fundamental questions about compliance with the law, respect for due process, and the integrity of our institutions,” the statement read. According to MADI, stakeholders have raised concerns about whether Junaidu meets the statutory requirement of 15 years of cognate experience in capital market law and practice.
The organisation has urged the National Assembly to exercise its oversight powers and investigate the circumstances surrounding the appointment. “Investor confidence is built on certainty, predictability, and respect for established legal processes. Any deviation introduces risk and uncertainty,” MADI stated.
The crisis has sparked fears that it could undermine the credibility of Nigeria’s governance framework and weaken regulatory credibility. The Federal Government has been called upon to address the matter and ensure strict adherence to the provisions of the Investment and Securities Act 2025.
