Managing Director and Chief Executive Officer of the South East Development Commission, SEDC, Mark Okoye, has come under heavy scrutiny from the Senate over alleged misuse of funds in the commission’s N16.6 billion 2025 budget.
The Senate Committee on South East Development Commission, chaired by Orji Uzor Kalu, queried the agency over reports that N153 million was spent on renting a one-room office apartment in Abuja, despite the commission’s corporate headquarters being located in Enugu.
The committee expressed concern over the expenditure, describing it as unjustifiable and demanding clarification on how public funds were utilised.
Responding to questions on the commission’s financial status, Okoye told lawmakers that about N11.5 billion to N12 billion remains in the agency’s account out of the N16.6 billion released in December.
However, the committee said it is not satisfied with the explanations and described the financial presentation as unclear and inconsistent.
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Members insisted that the documents submitted were not properly structured and directed the agency to return with detailed and verifiable financial records.
Senator Kalu, while leading the session, warned that the Senate would not accept vague or incomplete financial reporting, stressing that all government agencies must operate within constitutional oversight requirements.
He further expressed displeasure with the presentation, stating that the committee would conduct a thorough audit of all expenditures presented by the commission.
The committee also questioned other spending items and urged the agency to ensure full transparency in the management of public funds.
In response, the SEDC management said its financial records were still being compiled and assured lawmakers that a comprehensive report would be submitted.
Following the session, the committee directed the commission to return next Tuesday with complete documentation for further scrutiny, warning that failure to comply would attract additional legislative action.
(Editor: Terverr Tyav)
