The Association of Senior Civil Servants of Nigeria, SEC unit, commended President Bola Tinubu for reconstituting the SEC Board. Abba Mamman Ali, the Union’s Chairman, expressed this during a press briefing in Abuja.
President Tinubu replaced Lamido Yuguda with Emomotimi Agama, a technocrat and SEC insider, as the Director General of SEC last Friday.
Abba noted that Yuguda’s administration had not effectively regulated and developed the capital market, a crucial part of the Nigerian economy.
He criticized the previous management for neglecting staff welfare, including issues like promotions, gratuity, and salary increments, leading to low staff morale.
The Union sought a change in SEC management, which was realized by President Tinubu, who demonstrated his responsiveness by addressing the situation.
The SEC Staff Union pledged to work closely with the new board led by Mairiga Aliyu Katuka and Director General Emomotimi Agama to enhance the capital market as per President Tinubu’s agenda.
They appealed for the SEC to be exempted from the 50% deductions on operating surplus as per the Finance Act 2024, citing the Commission’s role as a development institution.
The Union also emphasized the importance of addressing staff-related issues like promotions, vacancies, and gratuity, and urged the new management to engage with the government regarding the operating surplus deductions.
Regarding the capital market, they urged the new management to establish a market-wide committee to address the market’s current challenges.
