The Plateau Democratic Movement (PDM), has asked the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate alleged abuse of office in the removal of Mr Amos Azi as Chairman of the Investments and Securities Tribunal (IST).
The petition, signed by the group’s Chairman, Ishaya Turba and Secretary, Iliya Mangai, was addressed to the ICPC’s chairman and made available to newsmen on Fiday in Lokoja, Kogi, North CentralNigeria.
The PDM questioned the sudden coming in of Mr Aminu Junaidu as IST Chairman shortly after Azi secured a second tenure.
The group argued that Azi was appointed by President Bola Tinubu, while junaidu allegedly got the directive to take over the position from the office of the Secretary to the Government of the Federation (SGF).
The PDM also copied the Attorney-General of the Federation (AGF), the SGF, the Minister of Finance, Senate Committee on Capital Market, EFCC and Senate Committee on Ethics, Privileges and Public Petitions.
The group said it was moved to write the petition following ICPC’s recent uncovering of fictitious agencies operating under the office of the SGF.
It said the development at the IST, a statutory body for resolution of capital market disputes, has also generated public concerns.
“We have been following and monitoring recent events concerning fake agencies and fake chief executives of those agencies by your commission.
“We believe the issue of fake appointment and fake agencies is related to what recently happened at the IST.
‘At the IST, Azi, who was duly appointed by the presidency, found himself dragging his position with one junaidu who claimed to have been appointed by the office of the SGF.
“We hereby submit this petition to you for an urgent and thorough investigation into the circumstances surrounding the emergence of Barr. 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 said its concern was borne out of the conviction that the IST, with a mandate to resolve capital market disputes, must be headed and administered strictly in accordance with its enabling law.
According to PDM, any irregularity concerning its leadership has the potential to undermine public confidence, the rule of law, and confidence in Nigeria’s capital-market regulatory framework.
It, therefore, urged the commission to investigate how Junaidu assumed the office on Oct. 2, 2025 under alleged controversial circumstances.
“This 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 said.
It would be recalled that Azi was first appointed as IST boss on July 17, 2020, and reappointed on Aug.13, 2025 by the president.
