Staff Movement is not a new thing is an on-going exercise saying Mgt

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SEC
From Benjamin A Ameh, Lagos

The redeployment exercise was strategically done to strengthen the regulatory mechanism of the Commission through efficient handling of complaints from the investing public, timely use of enforcement machinery where necessary on erring capital market operators and improvement on investor education.
This is why the redeployment affected key divisions such as, Investigation, Enforcement, Investor Education and Financial Literacy.
Also, it is a well known fact that capacity building is a necessary building block for any capital market regulation.  Thus, many staff had to be posted to the Commission’s Learning and Career Development Division for continuous training.
It is imperative to equally note that majority of the capital market operators are based in Lagos. Therefore, the need to improve the regulatory oversight through the use of our Lagos Zonal Office was highly desirable. This is why one of the Directors was posted to head the Lagos Zonal Office.
However, redeployment and transfer of staff of the Securities and Exchange Commission (SEC) Nigeria, especially at the beginning of a new year is a usual occurrence and part of its strategies at strengthening the apex regulatory body of the Nigerian Capital Market.

The exercise was not aimed at punishing or victimizing any staff due to his or her loyalty to some individuals as being insinuated in some quarters; instead it is for the overall interest of the market.
The role that SEC Nigeria plays in the nation’s economy is very critical and such changes should be expected from time to time to strengthen capacity and further improve the ability of the Apex regulator to carry out its functions effectively.

Besides, the acting Director General, Mounir Gwarzo has also assured the staff in his meeting with them earlier in the week that there is nothing to fight about. He reassured staff members that the present management is committed to returning the organization to its traditional core values experienced a decade ago and would undergo corporate rebranding to alter battered image suffered in the past.
He also mentioned that the present management is aware about the rights of staff that had been violated in the past few years resulting in an in-house strife but reassured that the issue of human rights would be paramount under the new regime. In addition, he said the era of fighting has passed, because there will be nothing to fight for. The issues on ground have been amicably resolved, so there would be no need to fight again.
In conclusion, the publication mentioned that the redeployment came out within 48 hours of assumption of duty of the Ag. DG. This shows the timeliness of the redeployment and the way the Ag. DG has a clear and deep understanding of the workings of the SEC due to the fact that he previously worked in the Commission.


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