By Kunle Adedoyin
Mr Isiaka Idoko, the Chairman of the Investment and Securities Tribunal (IST) has been replaced by Mr Jude Udunni, in an acting capacity.
Mr, Kenneth Ezea, Spokesperson of the IST, said that Udunni assumed duties on Friday and briefed staff of the organisation on the new development.
There is no clear indication of the reason for the replacement of Idoko, whether he was sacked, suspended or retired from service.
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.
Idoko, a former staff of the IST had retired in 2006 as a director and was appointed 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.