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Industrial Crisis Looms at SEC Over Workers’ Welfare

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  • Industrial Crisis Looms at SEC Over Workers’ Welfare

An industrial crisis may be brewing at the Securities and Exchange Commission over allegation of poor welfare and victimisation, among others, levelled by SEC workers against the management of the commission.

Already, the workers’ union under the aegis of the Association of Senior Civil Servants of Nigeria, which is an affiliate of the Trade Union Congress of Nigeria, has written a petition to the Minister of Labour and Productivity, Dr. Chris Ngige, over the issue.

The letter dated March 22, 2017 with reference number ASCSN/ABJ/FML&E/VOL. VIII/330 was signed by the Secretary-General of the union, Isaac Ojemhenke.

An acknowledgement copy from the office of the minister dated March 22 was obtained by our correspondent on Friday in Abuja.

In the letter, the union alleged that the management of SEC was victimising the officers of the union through what it called a “kangaroo disciplinary/investigation committee… on trumped charges against SEC’s own due process.”

The union said, “In accordance with Section 4 of the Trade Dispute Act Cap T8 of 2004, the Association of Senior Civil Servants of Nigeria hereby gives a notice that a trade dispute has been declared between the ASCSN and SEC.

“Points in dispute are unrelenting victimisation of our unit executive officers, and invitations issued to appear before a kangaroo disciplinary/investigation committee instead of the regular/standing disciplinary committee on trumped up charges against SEC’s own due process.”

The workers’ union also alleged “wrong application of the provisions of the SEC’s staff manual by SEC management and unfair labour practices by the management of the commission.”

The union in the letter stated that all efforts to draw the attention of the SEC management to the alleged irregularities inherent in its current actions had proved abortive.

It called on the minister of labour to intervene in the matter in order to avoid a situation where activities of the commission would be adversely affected by the looming industrial crisis.

When contacted, the Head, Corporate Communications, SEC, Naif Abdusalam, told our correspondent that the allegations by the union were untrue.

He said, “Two of the union leaders have some issues. One has to do with his documentation with SEC in terms of credentials; and the other one has to do with the issue on financials.

“SEC set up an investigative panel to review their cases, hence the allegation. Staff welfare in SEC is of utmost priority to management. All promotions are cleared and all payments are done as when due.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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