Buhari Picks Amos Azi from SEC as New IST Chairman

capital market disputes

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.

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 dipo.olowookere@businesspost.ng

more recommended stories

%d bloggers like this: