Concerns Over Tinubu's Reappointment of Capital Market Chairman

The Investment Securities Tribunal has expressed serious concerns regarding the reappointment of Barrister Amo Isaac Azi as chairman and CEO by President Bola Tinubu for a five-year tenure. The tribunal, represented by Dr. Lemmi Ughegb and Madi, warned that the situation poses a direct threat to the rule of law and investor confidence in Nigeria's capital market.

They noted that the reappointment, announced by the Secretary to the Government of the Federation (SGF), Senator George Akume, may not have followed due process as required by the Investment Securities Act 2025. The tribunal highlighted that the law mandates the chairman to have at least fifteen years of relevant experience in capital market law practice, raising questions about whether Barrister Aminu Junaidu, who was also mentioned in the appointment process, meets these requirements.

The tribunal called for urgent legislative scrutiny and emphasized the need for compliance with statutory requirements to safeguard the integrity of the capital market and maintain investor confidence.