Dr. Lemmy Ughegbe
Fresh controversy is brewing around Nigeria’s Investment Tribunal as Make A Difference Initiative (MADI) raises alarm over what it calls a troubling leadership mix-up that could shake confidence in the capital market.
At the centre of the dispute is the reported reappointment of Barrister Amos Isaac Azi as Tribunal Chairman by President Bola Ahmed Tinubu—a move MADI says followed due process and was fully implemented after approval in August 2025.
However, the situation took a dramatic turn when the office of the Secretary to the Government of the Federation, led by George Akume, announced Barrister Aminu Junaidu as chairman—triggering confusion and raising serious legal and constitutional questions.
MADI described the development as a potential breach of due process, warning that conflicting signals at such a critical institution could erode trust in Nigeria’s capital market and create uncertainty for investors.
Beyond the procedural concerns, the group also questioned whether the newly announced appointee meets the legal requirement of at least 15 years’ experience in capital market law, as mandated by the Investment and Securities Act 2025.
According to the organisation, the Tribunal remains a key pillar in resolving investment disputes, and any ambiguity surrounding its leadership risks weakening regulatory credibility and market stability.
MADI is now calling for urgent clarification from the Federal Government and a full-scale probe by the National Assembly to unravel the sequence of events and reaffirm the sanctity of presidential approvals.
The group stressed that Nigeria’s economic credibility hinges on strong institutions, warning that any perception of backdoor decisions or administrative overreach could come at a high cost to investor confidence.