Buhari Approves Appointment Of Azi As Investment Tribunal Chairman

President Muhammadu Buhari has approved the appointment of a new Chairman/Chief Executive Officer for the Investments and Securities Tribunal.

The new Chairman, Barrister Amos Isaac Azi, was before his appointment a staff of the Securities and Exchange Commission.

He is expected to take over from the Acting Chairman of IST, Jude Udunni, who had been in charge of the Tribunal since last year.

A statement from the Tribunal said Azi’s appointment is for an initial period of Five years in accordance with the provisions of Sections 275(2) and 277(1) of the Investments & Securities Act 2007.

The appointment, according to the statement is with effect from 17th July, 2020.

The statement also said the President has approved the re-appointment of Barrister Nosa Osemwengie as full time member of the IST, for a second and final term of four years.

His appointment is in accordance with the provisions of Section 277 (2) of the Investments & Securities Act (ISA), 2007.

The appointment is with effect from 1st August, 2020.

The IST is a specialized fast-track civil court with the mandate for the resolution of cases arising from investments and securities transactions, in a timely, transparent, efficient and cost-effective manner.

Under the enabling law, the Tribunal is mandated to conduct its proceedings in such a manner as to avoid undue delays.