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The Centre for Social Justice, Equity and Transparency has insisted that due process was followed in the appointment of Barrister Aminu Junaidu as Chairman of the Investment and Securities Tribunal, IST.
The Centre stressed that the process was backed by the constitutional authority of President Bola Tinubu.
Addressing a press conference on Friday in Abuja, the Centre’s Executive Director, Pastor David D. Yakubu, dismissed claims that the appointment violated the Investment and Securities Act 2025 as unfounded and lacking evidence.
Junaidu assumed office on October 26, 2025, following his appointment by President Tinubu.
The Centre noted that reforms introduced by the agency since the appointment is being emulated by contemporaries in other countries.
It pointed out that on March 13, 2026, the Ethiopian Ambassador to Nigeria visited the IST to study its processes. Also, a delegation from Ethiopia’s capital market institutions called at the IST on March 27, 2026.
“Such engagements are not routine. They reflect a level of confidence in the Tribunal’s direction and signal that its reforms are gaining recognition beyond Nigeria’s borders,” Yakubu added.
Speaking on the legal controversy surrounding Junaidu’s appointment, the Centre maintained that it was properly approved by President Tinubu within his constitutional powers.
It dismissed claims that the Secretary to the Government of the Federation acted outside legal bounds in announcing your appointment, describing the process as a standard administrative procedure for heads of agencies.
“Governance is not static. Administrative decisions evolve in response to institutional needs and national priorities. To interpret this flexibility as illegality is to misunderstand the nature of executive responsibility,” Yakubu said.
The Centre also addressed concerns over qualification, noting that Junaidu, as a former Attorney-General of Zamfara State, brings extensive experience in governance, legal advisory, and institutional management.
It warned that narratives capable of undermining confidence in Nigeria’s capital market must be approached with caution.
“While public scrutiny is essential in a democracy, it must be grounded in facts and exercised with a sense of proportion. Interventions that amplify uncertainty without sufficient basis risk weakening the very institutions they seek to protect,” Yakubu said.
The Centre urged stakeholders to prioritise stability, assess leadership based on measurable outcomes, and allow reforms to mature, emphasising that Nigeria’s progress depends on both decisions made and how they are interpreted.
Appointment of Investment, Securities Tribunal chair followed due process – CSO
