Visible signs of a serious management crisis at the country’s capital market regulator, Securities and Exchange Commission(SEC), emerged Wednesday as some tops officials of the agency accused the Director General, Arunma Oteh of highhanded leadership and thereby killing team spirit with her attitude.
Speaking at he ongoing public hearing being conducted by the House of Representatives’ ad-hoc committee looking into the collapse of the market, three executive commissioners painted a picture of a poor work environment since the appointment of the current DG.
They told the committee that ‘Trust and Respect’ was no longer existing among members of the management since Oteh joined the organisation.
First to speak was Executive Commissioner, Operations, Ms. Daisy Ekineh, who said that for any organisation to achieve its set objectives, there must be respect from down to top, and top to down.
She added that in all human organisations, there are always those saddled with the responsibility of leading, and should be respected, but that such leaders, must also in turn, respect their subordinates.
“In an organisation, there is always a leader, who must be respected, the leader should respect others”.
Speaking in the vein, Executive Commissioner, Finance and Accounts, Alhaji Lawal Sani Stores, also harped on the need to have confidence and trust among top members of SEC management as a sure means of strengthening the organisation and its capacity to discharge its duties creditably.
On his part, Mr. Charles A. Udora, who is the organisation’s Executive Commissioner, Legal & Enforcement, said it was a matter of team spirit that was completely absent since Oteh assumed headship of the organisation which is charged with the responsibility of regulating the Nigerian capital market.
He noted that team spirit was now replaced with unilateral decisions as well as high handedness, which has lowered morale among its work force, which is why staffers were no longer committed to the progress of the organisation, which may also explained the near collapsed of the market.
They all advised that for the organisation to return to the past glorious days, there must be a spirit of comradeship, trust and respect for all with the organisation. They equally harped on the importance of a collective management decisions, as well as regular meetings by the body.