The new
Board of the Securities and Exchange Commission (SEC) which was inaugurated
last month has approved the budget of the Commission in a move that calls
the bluff of the National Assembly (NASS).
The Board led by
Suleiman Ndanusa was said to have quietly okayed the budget last week
following threats from the workers of the Commission that they would down tools
if the impasse between the capital market regulator and the lawmakers was not
resolved as soon as possible.
Consequently, last
week the workers who had remained without their December 2012 allowances and
January 2013 salary were said to have been paid all their entitlements,
with no threat to work stoppage.
