Connect with us

General

Ex-Investment and Securities Tribunal Chair Drags FG to Court

Published

on

idoko-Akoh

By Dipo Olowookere

The former Chairman of Investment and Securities Tribunal (IST), Mr Siaka Idoko-Akoh, has asked the National Industrial Court to compel federal government to compensate him for emotional and psychological trauma.

Mr Idoko-Akoh informed the court that his removal from the IST has caused him pains because it was not only wrong, but also unlawful.

He dragged the Minister of Finance, Mrs Zainab Ahmed; Mr Mahmoud Isa-Dutse, the Permanent Secretary in the Ministry of Finance; J.I Udunni, the acting Chairman of IST; the tribunal; and Mr Abubakar Malami, the Attorney-General of the Federation (AGF) before the court.

According to Mr Idoko-Akoh, his appointment as the chairman of IST was for a secured tenure of five years and could not be removed from office except in accordance or in compliance with the provisions of sections 277 to 279 of the IST Act, 2007.

He asked the court to declare that his successor does not possess or qualify to be the acting Chairman of the tribunal as prescribed by the IST Act, 2007.

In view of this, he wants the court to declare as invalid, null, void and of no effect the letter dated September 24, 2019 removing him as the chairman of IST.

He urged the court to set aside, nullify and invalidate the letter of September 24,2019 purporting to have removed him from office as the Chairman of the tribunal and then compel the defendants in the alternative pay him  N251.2 million as salaries, allowances and other entitlements in lieu of the remaining three-year tenure, as Chairman and an additional N10 million as cost of prosecuting the suit.

Mr Idoko-Akoh was appointed as Chairman of the IST on August 1, 2017 and removed on September 24, 2019, a move he said was wrongful, unlawful and contravened sections 277 to 279 of the IST Act, 2007, having not been either found culpable or indicted or charged for any misconduct.

Counsel to the claimant, Mr Mimi Ayua, at the resumed hearing on Monday, told the court that he had served all parties with all relevant processes, which counsel to IST and Udunni, C.I Okpoko, confirmed.

However, the Ministry of Finance, the Minister Mr Isa-Dutse and the AGF had no legal representation.

The trial judge, Justice Sanusi Kado, has adjourned the matter until May 5, 2020 for hearing.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General

Pastor Ogbueli’s Abuja Night of Glory Holds Today

Published

on

Abuja Night of Glory

By Blaise Udunze

Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.

The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.

The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.

Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.

Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.

The event is intended for all individuals trusting God for divine intervention in any area of life.

Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.

Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.

Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.

Continue Reading

General

Rivers Speaker, 15 Other Lawmakers Leave PDP for APC

Published

on

rivers speaker Martin Amaewhule defect

By Modupe Gbadeyanka

The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).

At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.

This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.

The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.

This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.

A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.

Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.

It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.

Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.

Continue Reading

General

Nigeria Risks Brain Drain in Energy Sector—PENGASSAN

Published

on

energy sector

By Adedapo Adesanya

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.

The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.

Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.

“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.

According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.

“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.

He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.

Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.

He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.

“This industry recruits the best. Companies must provide the best conditions,” he said.

On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.

“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.

He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.

Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.

He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.

“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.

Continue Reading

Trending