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IST Sacked Chairman demands fair hearing from Senate

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IST Sacked Chairman  demands fair hearing from Senate

The sacked chairman of Investments and Securities Tribunal (IST) Siaka Isaiah Idoko-Ako is appealing to the senate committee on Capital Market chaired by senator Ibikunle Amosun to invite him to make his presentation before the panel for fair hearing.

Speaking to newsmen in Abuja yesterday he said despite the fact that his matter is before the senate and a copy of the letter of appeal he sent to the committee was forwarded to the senate President Ahmed Lawan the panel is yet to invite him to state his case.

According to him, his letter of appeal is for the senate to allow him to appear before the committee to defend himself.

He stated in two separate letters to the Senate President, Ahmad Lawan, and the Chairman, Senate Committee on Capital Market, Senator Ibikunle Amosun, that he was unjustifiably sacked by the permanent secretary of the Federal Ministry of Finance.

He indicated that neither Lawan nor Amosun had either acknowledged or acted on his letter submitted to them since December 16 and 17, 2019.

A copy of the letter was made available to the NationalUpdate in Abuja.

The embattled former chairman in the letter alleged that his sack was without due process adding that the senate comittee is dilly dailling with his ordeal.

Morese, Idoko-Akoh said the petition was coming from a union that has been proscribed by a competent court of jurisdiction yet the petition was being considered without hearing his own his own side on the matter.


According to him, he has  never recieved any query over any infraction in delivering his mandate.
“My appeal to the Senate Committee on Capital Market is predicated on the publication/report in some National Dailies of 21/11/19 that reported that the Senate was investigating the sack of the Chairman of Investments and Securities Tribunal.
His letter reads, “Having waited for over three weeks without any invitation from the Committee, I consider it of utmost importance to appeal for indulgence to make a presentation to enable the Committee arrive at a balanced and informed decision that will take the Nigerian Capital Market to the
next level.”
He said his appeal is predicated on the fact that the third Tribunal was dissolved in 2015, whereof the tribunal became dormant from November 2015 to September 11; 2017 (About 2 years), during which it was been overseen by an Acting  Chairman.
He said, the fourth Tribunal which he chaired was appointed and inaugurated on 19/09/17 and he as chairman was removed from office on the 26/09/19 vide a letter dated  24/09/19 by the Permanent Secretary Federal Ministry of Finance.
He indicated that “My removal from office is wrongful and unjust as it did not follow the due process as provided for under section 278 and 279 of the ISA, 2007 which provides for circumstances and conditions for the removal of a member of the Tribunal.
“My Appointment was for the tenure of Five (5) years subject to renewal for another term of Five (5) years see Section 277 of ISA 2007, see also my letter of appointment dated 02/08/2017). I have spent only two years of the first five years.”
He pointed out that in the course of his turbulent two years tenure beginning from day one of his being sworn in as chairman on the 19/09/17, he had never been found wanting on the performance of his mandate contained under Section 275 (1) (a) and (2) and Section 284 of ISA 2007 and in any other parts of the Act establishing IST.
He said he had never been queried nor interdicted.
“I have never been found wanting for any misconduct/misbehavior, corruption and financial mismanagement.
“The following Agencies of the Federal Government namely:EFCC, ICPC, PICA, FMF and OAGF have all carried out investigation of IST management and finances under me, and have found nothing against me.
“My appointment is tenured for five years subject to renewal and I have three (3) more years to complete my first tenure.”
He said he has been doing his job very well, professionally, administratively and financially.
“Paragraph three of my Removal Letter attests to these my qualities.”
He pointed out that his only problem right from the first day of his inauguration was from the staff who under the cover of a Labour Union called AUPCTRE wrote petition against him
He indicated that Honorable Justice Sanusi Kado of the National Industrial Court of Nigeria Abuja had given an order of the court proscribing the union in IST in its judgment delivered on the 21/05/19 in Suit Nos NICN/ABJ/154/2OI8 between  Chief Regiatrar, IST V. Amalgamated Union of  Public Corporation, Civil Technical and Recreational Service Employees (AUPCTRE) and 2 Others.

He said within his first seven months in office some staffs of IST using AUPCTRE as a cover, were determined not to allow the Tribunal to function.
“This necessitated the Tribunal taking the union to National Industrial Court of Nigeria on 21/05/18 where upon the Tribunal got judgment proscribing the Union on the 21/05/ 19.
“The initiation of the proceeding on 21/05/ 18 and the judgment on 21/05/19 were all communicated to the Federal Ministry of Finance.”
He explained that the Honorable Minister of Finance, The Permanent Secretary and The Director Home Finance – IST’s supervisory department, were at all times fully briefed vide several letters dated 25/01/2018, 19/03/2018, 02/05/2018, 24/05/2018, 29/10/2018, 22/01/2019, 12/07/2019, 31/07/2019, 10/09/2019 and the National Industrial Court (NICN) judgment of 21/05/2019.
“Surprisingly and for reasons unknown, they have refused to respond to all the issues and the prayers contained in the above referred letters to them. The letters will be exhibited before the committee once I am granted the indulgence being sought.
“The reason stated by the Permanent Secretary before the committee as published in the National Dailies were not correct and do not amount to misconduct/misbehavior contained in section 278 and 279 of the ISA, 2007 to warrant or justify my removal from office.”
“Above all, Distinguished Senators may wish to know that I have been commended by Capital Market stakeholders and even the Federal Ministry of Finance for my efficient/effective handling of the mandate of IST severally and up till today.
“My removal from office is without due recess and justification and thus
a product of grand conspiracy by those who do not understand the importance of capital market as a vehicle contributing greatly to the Nation’s economic development growth.”
Finally he craved the indulgence of the Distinguished Senate Committee on Capital  Market to grant him audience to make a representation in reaction to the submission of the Permanent Secretary Federal Ministry of Finance before the committee.”
This he said will afford the Senate Committee on Capital Market the balanced decision which will  move the Nigerian Capital Market to the next level under the administration of President Muhammadu Buhari.
He commended the wisdom of the Senate for even opening up investigation into the wrongful and unjust act of the Federal Ministry of Finance in sacking him without due process.






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Kogi Ag. CJ embarks on state-wide visits to Correctional Centres

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Kogi Ag. CJ embarks on state-wide visits to Correctional Centres

By Friday Idachaba

Acting Chief Judge of Kogi, Justice Henry Olusiyi has commenced tour of the six Custodial Centres (Correctional facilities) in the state with emphasis on cleanliness to check infestation of diseases.

Olusiyi who commenced the tour with a visit to Dekina and Ankpa Custodial Centres disclosed this while reviewing warrants of 35 Awaiting Trial Inmates incarcerated for various criminal offences.

The acting CJ said that there was need for the centres to be kept clean and neat to avoid communicable and other diseases adding even the clinics did not have drugs to take of minor diseases.

“In the clinic also they don’t have essential drugs for instance, the inmates in this centre, most of them are infected with infectious skin diseases and they don’t have drugs”, he said.

Olusiyi however commended the two correctional centres saying, “What we have seen is good in terms of cleanness. The environment is clean and the officers are doing well with the little that they have.”

On possible congestion of the facilities, the acting Chief Judge said Dekina Custodial Centre was underutilized because it has capacity for 105 inmates and they have 14 inmates including nine awaiting trials and five convicts.

“In Ankpa Custodial Centre, we have 26 inmates out of which one Gabriel Odiniya has been released unconditionally. The facility is underutilized but it is good. It is not all the time that we should expect correctional centres to be over full. It is good.

“That is a takeaway from this visit. That our correctional centres are not congested. Ankpa and Dekina are not congested. That means that our courts are working and our correctional officers are also working.

“We have already said it to our courts at all the stages that the essence of our mandate is the administration of justice and justice delayed sometimes can be Justice denied and at the same time Justice rushed sometimes can be Justice crushed.

“So we need to balance the two, make sure that whatever we do, we do not allow cases to linger in our courts and at the same time, do not over rush them so that we don’t miss out on the Justice of the matter.

“We wish to commend the Chief Superintendent of Corrections in Ankpa Custodial Centre, Umoru Onuh and Superintendent Omole Olumuyiwa of Dekina and their officers and men for a job well done”, he said.

NAN reports that the acting CJ had earlier visited the Eje Dekina, Alhaji Usman Obaje and commiserated with the Igala traditional council over the demise of the late Attah, Dr Idakwo Michael Ameh-Oboni and Onu Abocho, Alhaji Tijani Okwutachi who died Sunday morning. (NAN)

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Kogi Ag. CJ releases 17-year-old from Ankpa Custodial Centre

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Kogi Ag. CJ releases 17-year-old from Ankpa Custodial Centre


By Friday Idachaba
The Acting Chief Judge of Kogi, Justice Henry Olusiyi has unconditionally released a 17-year-old boy, Gabriel Odiniya, remanded in the centre and standing trial for alleged trespass, intimidation and attempt to commit theft.

The News Agency of Nigeria (NAN) reports that the Chief Judge released the juvenile inmate on Tuesday in Ankpa while on inspection visit to Medium Security Custodial Centre in Ankpa as part of his state-wide visits to custodial centres.

Olusiyi said there was no prima facie case against Odiniya aside the fact that he was a child who under extant laws, was certainly not supposed to be in the custodial centre in the first place.

“I have listened carefully to the learned legal officer prosecuting this case and on the whole, I am satisfied that this is an appropriate case for me to exercise my discretion in favour of the defendant by letting off the hook completely in this matter.

“I have also observed that he is suffering from skin rashes which if not controlled, may result in other inmates being infected.

“In the light of all the foregoing, the defendant is hereby released as no useful purpose will be served by his continued detention in this Custodial Centre.

“He shall be released forthwith to the acting Ochogwu of Ogugu, His royal Highness Emmanuel salifu for proper handling etc”, he said.

The acting Chief Judge also implored the Reverend Father Boniface Opaluwa, incharge of the Catholic Church in Emagaba-Ogugu, to take charge and provide spiritual guidance to the fatherless boy.

Odiniya was allegedly framed by a woman who he had worked for and who dragged him to court over alleged theft of money and secured conviction but Odiniya was given an option of fine by the court.

The woman according to Odiniya, had caused him to be arrested again boasting that she would make him to spend five years in jail as he was subsequently arraigned before Chief Magistrate Court, Okpo, Olamaboro Local Government. (NAN)

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Court orders Fidelity Bank, BNSG to pay N1.4b to staff of defunct Taraku mills Ltd

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Court orders Fidelity Bank, BNSG to pay N1.4b to staff of defunct Taraku mills Ltd

The National Industrial Court of Nigeria, has ordered Fidelity Bank and the Benue State Government to pay the sum of N1.4 billion Naira to one Aondohemba Agba Injo and 210 others over unpaid claims of the creditors who are staff of the defunct Taraku Mills Limited.

The court also issued a Writ or execution against the garnished /Respondent thereafter, by directing the Deputy Sherriff of the court to seal the Banks branches in Abuja, Lafia, Makurdi and any others in Nigeria for the purpose of enforcing the judgment of the  court.

The two major branches of the bank in Abuja situated in the Business Central Area and Maitama were consequently sealed up this afternoon.

Honorable Justice R. B Haastrup who delivered the judgment on the 19th of November 2020 in a suit no NICN/ABJ/241M/2020 said, “I have  carefully perused through the processes filed by the judgment creditors /Applicants herein and have also listened to the oral submissions of counsel in respect thereto vis-a-vis the authorities cited in support thereof.
“The rules of this court as stated by the Applicant’s  counsel are indeed clear on the requirements for the issuance of the Writ of execution as embodied in Order 49 Rules 3 and 6, which the Applicants herein has compiled with”.

While the seal up of Fidelity Bank was executed in some of its branches in Abuja, a top bank manager said the process of paying off the debts has begun.

One of the Creditors, Aondohemba Agba Injo and their team of lawyers yesterday who besieged the bank premises told our reporter that,” they have showed us bank drafts to show that they are processing the payments but what we don’t know is if it’s a gimmick because they promised to compete it in three hours but it’s well past three hours now but we are still here and waiting”.

Sources however told our correspondent that while the bank is slow in rounding up the process was to buy time while they explore possibilities of obtaining a stay of execution order from the Supreme court.

But  a lawyer, Barrister A Usha told our reporter that cases of such nature terminates at the Industrial court of Appeal.

It was also gathered that the Benue State Government was mounting pressure on  the officials of the Industrial Court of Appeal to illegally unseal the banks premises against a lawful order.

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