Buhari Picks Amos Azi from SEC as New IST Chairman

By Dipo Olowookere

A member of staff of the Securities and Exchange Commission (SEC), Mr Amos Isaac Azi, has been chosen by President Muhammadu Buhari as the new Chairman/CEO of the Investments and Securities Tribunal (IST).

Mr Azi, a legal practitioner, was appointed by the President to replace Mr Siaka Isiah Idoko-Akoh, who he removed from the position in September 2019.

His removal was announced then through a circular signed by the Permanent Secretary Federal Ministry of Finance, Dr Mahmoud Isa-Dutse.

But in a statement yesterday, it was said that Mr Azi has been selected by the President as the new Chairman/CEO of the tribunal.

The new chair will hold the office for a period of five years in accordance with the provisions of Sections 275(2) and 277(1) of the Investments & Securities Act (ISA), 2007.

It was further stated that his appointment was with effect from Friday, July 17, 2020, and would be required to reposition the tribunal, which serves as a dispute resolution platform for matters arising from the capital market.

Also, on Monday, President Buhari approved the reappointment of Mr Nosa Osemwengie as full-time member of the IST for a second and final term of four years.

In a statement, it was stated that his reappointment, which became effective from August 1, 2020, was in compliance with the provisions of Section 277 (2) of the Investments & Securities Act (ISA), 2007.