President Muhammadu Buhari (image courtesy State House)

President Muhammadu Buhari has approved the sack the Chairman of the Investment and Securities Tribunal, Concise News reports.

The Permanent Secretary Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse, made this known in a circular released on Saturday.

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The circular reads: “I write to convey the approval of Mr. President for your removal from office as the Chairman of the Investment and Securities Tribunal (IST)
with immediate effect.

“Accordingly, you are required to hand over the office of the Chairman including all properties of the IST in your custody to Mr. J. I. Udunni, a full-time member of the Tribunal, who by this same letter from the State House has been appointed as Acting Chairman of the IST.”

Responding to the sacking at a joint briefing on Friday in Abuja, Nigeria’s capital, Aliyu Maradun, the Chairman of FCT Council said, “It is very unfortunate that the Chairman, Investment and Securities Tribunal (IST) Mr. Isiah Idoko-Akoh, unilaterally handled IST as if it is his own personal private property without recourse to Civil/ Public Service Rules and Constitution of Federal Republic of Nigeria.

“The struggle for emancipation of worker and revival of IST became pertinent, when the union discovered that the Tribunal is on the verge of being collapsed by the former Chairman, due to his high-handedness, maladministration and high level of corruption in which the union petitioned ICPC, EFCC and Presidential Initiative on Continuous Audit (PICA) for investigation and prosecution.”