By Opeyemi Issa InvestAdvocate
Lagos (INVESTADVOCATE)- The Nigerian Stock Exchange (NSE) Friday announced it has trimmed its workforce and 17 staff were affected.
This is contained in a Statement by Wole Tokede, Seniour Manager, Media/Corporate Commuincations of the NSE and made available to www.investadvocateng.com in Lagos Nigeria.
Dante Ibidapo Martins, Head of Corporate Communications of the Nigeria’s Exchange confirmed this figure exclusively to www.investadvocateng.com. “The number of staff affected are 17” he said
According to him, the NSE had to embark on this inline with the vision of its new Management to ensure efficiency in its workforce; which would help boost investors confidence in the Nigerian Bourse.
“As part of The Nigerian Stock Exchange’s ongoing effort aimed at streamlining its operations, its Management with the approval of The National Council, completed a Staff Reduction exercise today†the Statement said.
The Statement further affirmed that the NSE will continue to invest in developing its employees (e.g. training, performance based reward system) as they are considered the company’s greatest asset that will enable it to achieve its organizational objectives in 2012 and beyond.
“All efforts have been made to ensure that all affected employees receive all entitlements due to them†the NSE said.
This is coming on the heels of the rightsizing of 95 staff August 2010 by the then Emmanuel Ikazoboh’s led Interim Administration.
The NSE then said that the sack was in furtherance of its goal to restore investor confidence in the Nigerian Capital Market. Therefore its , Council decided to decided to reduce The Exchange’s staff strength by 32.5% from 292 to 197 staff members.
