Jobs/Appointments
Exploring the Disconnected Employee and COVID-19
About 97% of organisations are not addressing employees’ psychological stress. As global supply chains are disrupted, the International Monetary Fund (IMF) has predicted the worst Nigerian recession in 30 years.
Studies suggest, that areas most topical for Nigerian businesses are liquidity and lay-offs. Board rooms up and down the country are desperately trying to figure out how long the recovery will take and the impact on their cash flow.
However, a recent pcl. study indicates that the well-being of employees must also feature highly on the executive agenda.
From our experience, negative impacts on employee well-being can be protracted and long-lasting, often leading to a psychological disconnection between the employee and the organisation.
With a recession looming, if this disconnection is not tackled head-on, organisations will witness low employee productivity, resulting in a slower-than-expected business recovery in a COVID-19 new normal.
Most Business Continuity Plans (BCP) appeared to place a premium on the provision of hard infrastructure to guarantee business operations.
Therefore, even though 65% of organisations in Nigeria implemented work from home policies during the lockdown, 94% of employees were not provided with Working From Home (WFH) guidelines and best practices.
Nevertheless, WFH was a welcome development, as 65% of employees in Nigeria aimed to use the lockdown as an opportunity to enjoy time with family and pursue personal development objectives.
The question is, should organisations place more emphasis on developing the softer components of the recovery, in a bid to reinforce the psychological contract between the employer and employee?
Our experience suggests that such contracts are critical for developing employee well-being, a consequence of which is improved organisational performance through deeper business connectivity.
For example, despite the organisational focus on hard infrastructure, 60% of employees on average are experiencing electricity and internet challenges while working remotely.
Whilst higher than expected usage by employees was foreseeable, many organisations did not make financial provisions for the additional data that was consumed or provide power banks to cope with electricity fluctuations. This small but meaningful oversight was a common source of an anecdotal employee complaint.
The numbers suggest a broader challenge of organisations failing to align modern digital technologies to firm business commitments pertaining to personal development, continuous learning, cross-functional collaboration and innovation.
With 65% of employees aiming to pursue personal development objectives during the lockdown, merely 7% of organisations prioritised staff training during the lockdown, and only 16% of companies were open to virtual learning.
Furthermore, 64% of employees are still using WhatsApp as the primary business tool while WFH. However, along with standard cybersecurity concerns, as a tool for managing business communications and driving high performing teams, WhatsApp still has several limitations.
But, do the numbers identify a failure to use technology effectively or do they harbour a more profound concern which suggests that organisations are failing to grapple with anticipated seismic shifts in the ‘future of work’?
With the long-term possibility of business uncertainty and disruption in ways of working, technology aligned business objectives are critical for providing employees with the tools essential for empowerment, self-management and personal accountability.
A focus on employee well-being, i.e. team engagement, personal development, social support, and work motivation, is critical at the best of times.
But more so in a time of employee isolation, social distancing, home schooling, financial strain, housing and food insecurity, job anxiety and most importantly, the potential loss of family and loved ones.
Such pressures acutely align with the physiological needs identified by the psychologist Abraham Maslow in his paper “A Theory of Human Motivation”. If an employee is hungry, it will be hard to focus on anything other than food. Predictably, the brunt of the discomfort will fall on those in the medium to low-income bands. According to the National General Household Survey that was conducted in 2019; 32% of Nigerian households experienced food shortages.
This might explain why 41% of employees are admitting to low work motivation, and 75% are struggling with home confinement. Consequently, even though 51% of organisations claimed to possess senior management channels for employee engagement, going forward, we must consider the frequency and commitment to using those channels for discussing issues of well-being.
There are several early warning signs for identifying disconnected employees. Key performance indicators include increased absenteeism, increased number of sick days, lateness to the office, higher staff turnover, low employee engagement, and reduced productivity.
However, a considered approach to driving employee intimacy can shift corporate culture to ensure human capital remains a key lever for performance.
With the uncertainty and complexity of things to come, employee well-being must be front and centre of the recovery process for Nigerian organisations. 57% of employees are expecting wage cuts in the next 1-3 months, so, it would be foolhardy to infer that tough, unpopular decisions do not lie ahead.
But it is also worth noting that decisions that impact employee well-being will have socio-economic outcomes that extend far beyond the organisation and into the broader realms of society (The unintended consequence of change).
The ability of an organisation to remain connected with employees, strengthen the psychological contract and prioritise areas of well-being, are critical to ensuring superior performance and accelerated COVID-19 recovery. Not just for organisations, but the country as a whole.
By Adedapo Adesanya
The Central Securities Clearing System Plc (CSCS) has announced the appointment of Mr Shehu Yahaya Shantali as its new Chief Executive Officer (CEO), effective January 1, 2026, subject to regulatory approval.
Mr Shantali will succeed Mr Haruna Jalo-Waziri, who will step down after an eight-year tenure, where he contributed significantly to advancing Nigeria’s capital market infrastructure.
During his tenure, Mr Jalo-Waziri provided visionary and results-driven leadership that delivered sustained growth and far-reaching transformation across the organisation.
He led the successful execution of critical strategic initiatives, strengthened governance and operational effectiveness, and modernised the company’s systems and processes, positioning the organisation for long-term resilience and competitiveness.
His leadership significantly enhanced stakeholder confidence, deepened the organisation’s market relevance both domestically and internationally, and established a strong, future-ready foundation for continued success.
Commenting on the appointment, the Chairman of the CSCS board, Mr Temi Popoola, said: “On behalf of the Board, I would like to express our profound appreciation to Haruna Jalo-Waziri for his outstanding service to CSCS. Under his leadership, the company recorded notable milestones and built an impressive legacy of operational excellence, innovation, and stakeholder confidence. We thank him sincerely for his dedication and impact.
“We are equally delighted to welcome Shehu Shantali as the new Chief Executive Officer of CSCS. He brings a wealth of experience, deep industry knowledge, and a strong strategic vision. The Board is confident that he will build on the solid foundation laid by his predecessor and lead the Company into its next phase of growth.”
Mr Shehu Yahaya Shantali holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingston Business School. He has over two decades of experience in accounting, finance, and financial services across Nigeria and the United Kingdom, with expertise spanning investment and asset management, financial advisory, and International Financial Reporting Standards (IFRS).
His career cuts across capital markets, investment banking, real estate, and financial services, and is underpinned by a decade at the Securities and Exchange Commission (SEC) Nigeria, where he championed the migration of publicly listed and significant public interest entities from Nigerian GAAP to IFRS and led the Commission’s transition to the contributory pension scheme in 2012.
Mr Shantali has built deep experience in financial inclusion, digital financial infrastructure, and the development of scalable, market-wide platforms that expand access to regulated financial services. As Managing Director and Chief Executive Officer of Apricot Investments Limited, he led the development of the MicroWorld platform, enabling the distribution of structured financial products, including micro-health, micro-pension, micro-housing, micro-insurance, and micro-investment solutions.
Earlier in his career, his team developed Nigeria’s first contactless payment solution, and he played a pioneering role in POS-based agency banking and early mobile-money interoperability on the NIBSS NIP platform, supporting efficient payments, settlement, and system-wide connectivity.
Reflecting on his tenure, the outgoing CEO, Mr Jalo-Waziri, stated: “It has been an honour to serve as the Chief Executive Officer of CSCS. I am proud of what we have achieved together as a team and grateful for the support of the Board, management, regulators, and all our stakeholders. I am confident that CSCS is well-positioned for the future, and I wish my successor every success as he takes the company forward.
In his remarks, the incoming CEO, Mr Shantali, said: “I am deeply honoured by the confidence the Board has placed in me with this appointment. CSCS plays a critical role in Nigeria’s capital market ecosystem, and I look forward to working with the Board, management, staff, regulators, and market participants to strengthen the Company’s leadership position further, deliver value to stakeholders, and support the continued growth and stability of the capital market.”
In a statement, CSCS Plc commended Mr Jalo-Waziri for his contributions to enhancing the company’s operational capabilities and fostering market development during his tenure with the organisation.
The company reaffirmed its commitment to upholding the highest standards of corporate governance, operational excellence, and stakeholder engagement as it continues to support the Nigerian capital market.
By Adedapo Adesanya
President Bola Tinubu has approved the reconstitution of the board of the Nigerian Electricity Regulatory Commission (NERC), following the Senate’s confirmation of its members on December 16.
This was disclosed in a statement released by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.
He noted that the board is chaired by Mr Musiliu Olalekan Oseni, who started his service as a Commissioner in January 2017. He was subsequently appointed Vice Chairman of the commission.
His appointment as Chairman took effect from December 1, 2025, and shall subsist until the completion of his ten-year tenure at the commission, in accordance with the provisions of the Electricity Act, 2023.
Mr Yusuf Ali is now the Vice Chairman. He was first appointed as a Commissioner in February 2022. His designation as Vice Chairman took effect on 1 December 2025 and shall remain in effect until the completion of his first term.
The others are; Mr Nathan Rogers Shatti — Commissioner. He is serving a second term as commissioner. He was first appointed in January 2017.
Mr Dafe Akpeneye — Commissioner. He is serving a second term, having been first appointed as a Commissioner in January 2017.
Mrs Aisha Mahmud Kanti Bello — Commissioner. She is serving her second term, having been first appointed as a Commissioner in December 2020.
Mr Chidi Ike, PhD— Commissioner. He is serving his first term, having been first appointed as a Commissioner in February 2022.
Mr Fouad Animashaun, PhD — Commissioner. He is serving his first term, effective December 2025. He is an energy economist with extensive experience in the Nigerian power sector and most recently served as Executive Commissioner and Chief Executive Officer of the Lagos State Electricity Regulatory Commission.
President Tinubu charged the board members of NERC to deepen and consolidate the ongoing transformation of Nigeria’s power sector, in strict alignment with the letter and spirit of the Electricity Act, 2023.
By Adedapo Adesanya
The chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has resigned alongside his counterpart at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe.
Based on the development, President Bola Tinubu has asked the Senate to confirm new chief executives for the two agencies.
The President’s request was contained in separate letters to the Senate on Wednesday, according to a statement signed by Mr Bayo Onanuga, the Special Adviser to the President on Information and Strategy, late on Wednesday.
Both officials were appointed in 2021 by former President Muhammadu Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).
To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Mrs Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Mr Saidu Aliyu Mohammed as CEO of NMDPRA.
Mr Ahmed’s resignation comes amid a high-profile conflict with businessman, Mr Aliko Dangote, who alleged that the NMDPRA chief and his family were living beyond their legitimate means, citing millions of Dollars allegedly spent on overseas schooling for his four children.
Mr Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.
Mr Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.
His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.
He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).
He played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.
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