This study examines the kinds of stance that "but" as a contrastive marker signals in Nigerian investigative public hearings, with a view to exploring the contexts in which the stances are made. The study examines forty purposively selected investigative public hearing sessions which involve interactions between complainants, defendants and a hearing panel. The data are analysed qualitatively utilising Du Bois’ (2007) interactional view of stance and Martin and White’s (2005) appraisal system. Results indicate that "but" indicates epistemic, evidential, emotive and evaluative stances within the narrative, interrogative and closing contexts. These stances and their contextual patterns depend heavily on the roles, goals and knowledge of the participants as stancetakers who position themselves, and align with other participants and the wider discourse community in order to express evaluation and intersubjective positioning.