Group Challenges Akpabio Over Investment Tribunal Appointment

A group has formally petitioned the Senate, dragging Godswill Akpabio, the Senate President, into a legal dispute over the reversal of a presidential appointment concerning the chairmanship of the Invest Securities Tribunal. The petition, led by Madi and executed by Lemmi Ughegb, raises serious concerns about conflicts arising from the appointment of Aminu Junaidu, which they argue violates the Investment Securities Act 2025.

The group contends that the appointment process lacked adherence to due process and the rule of law, questioning the statutory authority of the Secretary to the Government of the Federation to override a valid presidential appointment. They assert that the purported appointment of Junaidu is ultra vires, null, and void, which could erode investor confidence and weaken regulatory certainty in Nigeria's capital market.

The petition has been forwarded to the Senate committees on Capital Market, Judiciary, Human Rights, and Legal Matters, urging a thorough investigation to ensure compliance with legal provisions.