IST Row: Tinubu acted within law — Group

By Luminous Jannamike

ABUJA — The Centre for Social Justice, Equity and Transparency has firmly defended the appointment of Barrister Aminu Junaidu as Chairman of the Investment and Securities Tribunal (IST), insisting that Bola Ahmed Tinubu acted within the law and followed due process.

The intervention comes as criticism mounts over the legality of the appointment, with claims it breached the Investment and Securities Act 2025.

But the Centre says those allegations are unfounded and warns they risk shaking confidence in Nigeria’s capital market at a delicate moment.

Speaking at a world press conference on Friday in Abuja, the Centre’s Executive Director, David D. Yakubu, addressed both the legal concerns and what he described as the bigger picture for the Tribunal.

“Before addressing the legal arguments, it is important to begin with what ultimately matters most in public service, performance,” Yakubu said.

According to him, since Junaidu assumed office after a formal handover on October 26, 2025, the Tribunal has seen noticeable shifts in how it operates, including improvements in administrative efficiency, staff morale and inclusiveness.

“Improved case flow and speed of adjudication directly impact investor confidence in a capital market where time and certainty are critical,” the Centre stated.

The group said the changes are already drawing attention beyond Nigeria, pointing to recent visits by officials from Ethiopia to study the Tribunal’s processes.

“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.

On the legal dispute, the Centre maintained that the appointment was properly approved within the President’s constitutional powers, dismissing suggestions of any procedural breach.

“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,” the statement read.

It also defended Junaidu’s qualifications, pointing to his experience as a former Attorney-General of Zamfara State and his background in governance, legal advisory and institutional management.

“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 and allow the Tribunal’s reforms to mature, stressing that Nigeria’s progress depends not only on decisions taken, but also on how they are interpreted.