Mr Isiaka Idoko who was the Chairman of the Investment and Securities Tribunal, IST has been relieved of his appointment, while in his stead, Mr Jude Udunni has been appointed as Acting Chairman of the tribunal.
Mr Kenneth Ezea, the spokesperson of the IST, confirmed it that Udunni assumed duties on Friday and briefed staff of the organisation on the new development.
Though Ezea did not confirm whether Idoko was sacked, suspended or retired from service, he said Udunni told the staff he had been asked to function in an acting capacity until a decision is reached on the appointment of a new chairman.
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Idoko, a former staff of the IST had retired in 2006 as a director and was reappointed Chairman of the tribunal in 2017, along with nine other board members.
He was among the full-time members, which included Jude Udunni, Nosa Osemwengie, Abubakar Ahmed and Albert Otesile, while the part-time members included Emeka Madubuike, Kasumi Kurfi, Edward Ajayi, Onyemachi Elujekor and Mamman Zargana.
The tribunal, an equivalent of a high court, adjudicates on issues bordering on the capital market and investments. It members have specialized knowledge of the capital market and securities and pension’s law and operations.
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