The Federal Government has expressed displeasure over in-fighting which characterised previous inaugurated board members of the Investment and Securities Tribunal (IST), one of the key reasons government justified for their sacking. It said that their rancourous, unhealthy relationship was an embarrassment to the government. Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this revelation in Abuja on Thursday at the inauguration of members of the IST. Ahmed spotted what she referred to as element retarding IST progress, noting that “the problem with the tribunal has been infighting amongst members, lack of industrial harmony and series of complain bordering maladministration.
This has been the bane of the tribunal and a source of embarrassment not only for the ministry of finance but for the government in general.” As a result of the squabbles, the finance minister said “the tribunal has in the last five years suffered many setbacks due largely to poor administration, this setbacks have blurred if not completely wiped out the modest achievements that the tribunal has recorded.” She reminded members of the tribunal that “in November 2015, the tribunal was dissolved and the chairman and his members relieved of their jobs, a new panel of the tribunal which includes many of the members that are here seated was inaugurated in 2017 again barely two years into the tenor the chairman of that tribunal was removed.”
Specifically, the finance minister told the tribunal chairman that his “responsibility is to provide good leadership that would galvanize the human and material resources at the tribunal’s disposal on the path of stability towards achieving its mandate in a consistent manner.”