By Charles Chijioke
ABUJA — The Senate Committee on the South East Development Commission (SEDC) has subjected the Managing Director of the commission, Mark Okoye, to intense scrutiny over the utilisation of N16.6 billion released to the agency under its 2025 budget.
Afrilensnews reports that members of the committee, chaired by Senator Orji Uzor Kalu (Abia North), raised concerns over several expenditure items contained in the commission’s financial report, particularly a reported N153 million spent on the rental of a one-room liaison office in Abuja.
Lawmakers also questioned a N2.5 billion entry described as “implied expenditure,” noting that the commission failed to provide a clear breakdown of how the funds were utilised.
During the oversight session, committee members expressed dissatisfaction with the explanations provided by the SEDC management, insisting that every expenditure linked to the N16.6 billion allocation must be properly documented and justified.
Senator Kalu disclosed that records from the Central Bank of Nigeria (CBN) indicated that only N13 billion remained in the commission’s account by December 2025, suggesting that approximately N3.6 billion had already been spent.
“This committee is disappointed with the financial report given, which is completely unacceptable,” Kalu said.
Other committee members, including Senators Enyinnaya Abaribe, Victor Umeh, and Austin Akobundu, reportedly echoed similar concerns, questioning the transparency and accountability of the commission’s financial disclosures.
Responding to the lawmakers, Okoye maintained that all expenditures were tied to priority projects of the commission. He explained that the agency deliberately avoids awarding contracts beyond available cash releases in order to prevent the accumulation of unfunded liabilities.
According to him, the size of an approved budget does not automatically translate into immediate access to the entire allocation, noting that actual spending depends on funds released by the government.
Despite the explanation, the committee remained unconvinced and directed the commission to return on June 23 with comprehensive financial records, including details of contracts awarded, payment schedules and supporting documents for all expenditures under review.
The latest development underscores growing legislative scrutiny of federal agencies handling intervention and development funds. Should the commission fail to provide satisfactory documentation, the investigation could trigger further parliamentary actions, including recommendations for sanctions, additional audits or referrals to relevant anti-corruption and oversight bodies.
The South East Development Commission was established to coordinate reconstruction, infrastructure development and economic growth initiatives across the South-East region.
The Senate committee’s intervention is expected to test the commission’s financial management systems and accountability framework at a critical stage of its operations.
