Union Urges Govt To Take Over Nigeria Commodity Exchange

By Aza Abba, Abuja

Amalgamated Union of Public Corporations, Civil Service Technical and the Recreational Services Employees (AUPCTRE) has called on President Bola Ahmed Tinubu to take over the Nigeria Commodity Exchange (NCX) and immediately constitute a task force to manage its affairs.

At a press briefing in Abuja, the chairman of AUPCTRE, FCT Council, Comrade Aliyu Maradun, also demanded a forensic audit of the NCX, alleging that the mManaging director, Mr AnthonyAtuche, has been running the organisation as a sole administrator.

According to Maradun, persistent industrial disharmony at the NCX prompted the Federal Ministry of Trade and Industry to convene a meeting with both the national and FCT leadership of AUPCTRE to address issues relating to staff welfare.

He disclosed that a PricewaterhouseCoopers (PwC) report on the workplace welfare identified several areas requiring improvement, adding that the union demanded access to the report from both the Central Bank of Nigeria (CBN) and PwC, which were engaged in the human resource revamp of the NCX.

Maradun further stated that NCX employees have suffered career stagnation, with many remaining on the same grade level for eight to nine years due to a lack of promotions. As a result, the union is demanding the conduct of promotion examinations.

The AUPCTRE chairman also accused the NCX management of failing to engage staff on the implementation of the National Minimum Wage since its commencement in March 2024, insisting that the exchange must pay the new wage, along with outstanding arrears.

Other demands raised by the union include the non-payment of

repatriation allowances and other entitlements to retired staff, as

well as the non-remittance of statutory deductions such as PAYE tax, pension contributions, National Housing Fund (NHF), and union dues to the relevant authorities.

Maradun said that although these issues were discussed and resolutions

reached at a meeting between NCX management and AUPCTRE, the

agreements have not only remained unimplemented but have worsened. He further alleged that, despite repeated reminders, NCX management has continued to harass, victimise, and violate workers’ rights.

In response, the Managing Director of NCX, Mr Anthony A. Atuche, in a letter dated January 25, 2026, said many of the issues raised by the union had already been addressed or were in the process of being resolved.

Atuche explained that since assuming office in 2023, the NCX had been removed from the federal government budgeting framework following a decision by the CBN Board overseeing the exchange. He noted that despite efforts to secure reintegration into the federal budget, the move has not been successful, forcing the NCX to operate under extremely challenging conditions.