The Minister of Finance Budget and National Planning, Mrs Zainab Ahmed, has said the Federal Government sacked some past members of the Investments and Securities Tribunal (IST) as they indulged in corruption.
Inaugurating the new members on Thursday, the minister charged the new members to eschew corruption and be forthright.
Bar. Azi Amos Isaac was appointed as Chairman for a five year term and Bar. Nosa Smart Osemwengie, was re-appointed as member for a second term of four years.
"The problem with the tribunal has been infighting amongst members, lack of industrial harmony and series of complaints bordering on 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," Ahmed said.
The new chairman, Azi, assured the finance minister that, "the teething issue of restiveness has been addressed since he assumed duty," adding that, "The place is calm and the staff have become very supportive."
Azi said since 2003, the tribunal has "given judgment in the value of assets worth over N844 billion and that from 2017 to date, they have given decisions in monetary value totalling over N28bn.
"It has not failed in its adjudicatory responsibility.
"It has carried out its assignment with candour and integrity and intends to improve on what has been on ground."