A civil society group, Make A Difference Initiative (MADI), has raised concerns over what it describes as a looming leadership crisis at Nigeria’s Investment Tribunal, citing conflicting appointments to the position of chairman.
Executive Director of the Initiative, Dr Lemmy Ughegbe In a statement
queried the role of the Secretary to the Government of the Federation, George Akume, over the emergence of Barrister Aminu Junaidu as chairman weeks after the reported reappointment of Barrister Amos Isaac Azi by President Bola Ahmed Tinubu.
The group said Azi’s reappointment followed due process under the Investment and Securities Act 2025 and received presidential approval on August 13, 2025, with all administrative procedures including payroll placement, completed.
However, MADI expressed alarm over what it described as a “backdoor” development, where a separate communication from the SGF’s office announced Junaidu as chairman, raising concerns about due process, constitutional limits, and administrative overreach.
According to the organisation, the situation risks undermining investor confidence and destabilising capital market operations, noting that the Investment Tribunal plays a critical role in dispute resolution within the sector.
MADI also questioned whether the new appointee meets the statutory requirement of at least 15 years’ experience in capital market law and practice, as stipulated by the Act.
The group called on the National Assembly to launch a thorough and transparent investigation into the matter, stressing the need to uphold the integrity of laws and governance processes.
It further urged the Federal Government to provide urgent clarification to prevent uncertainty and reinforce confidence in Nigeria’s institutional framework.
MADI maintained that credibility, predictability and strict adherence to legal procedures are essential to safeguarding Nigeria’s economic aspirations and maintaining trust in its financial system.
Capital Market Tension: Group Questions Tribunal Leadership Shift
