Senate Calls for Full Report on N3.6 bn SEDC Expenditure and Summons Commission

The Senate has stepped up its oversight of the South East Development Commission (SEDC), demanding a full explanation for the billions of naira released to the agency under the 2025 budget.

This move followed an investigative hearing by the Senate Committee on South East Development Commission, during which lawmakers questioned several items listed in the commission’s financial statements.

Committee chair, Senator Orji Uzor Kalu, stated that “records obtained from the Central Bank of Nigeria indicated that the commission received N16.6 billion in budgetary releases. However, only N13 billion remains in its accounts, suggesting that about N3.6 billion has already been spent.”

Lawmakers highlighted specific expenditures, including a claimed N153 million payment for a one‑room liaison office in Abuja and N2.5 billion recorded as implied expenditure.

Senator Kalu described the financial report submitted by the commission as unsatisfactory and insisted that all spending must be properly justified.

Other committee members also expressed dissatisfaction with the documentation presented by the commission, calling for greater transparency in the management of public funds.

In response, SEDC Managing Director Mark Okoye defended the agency’s spending, asserting that all expenditures were prudently undertaken and based on actual cash releases to avoid the accumulation of unfunded liabilities.

Despite the explanation, lawmakers remained unconvinced and directed the commission to provide comprehensive records of all contracts awarded, payments made, and supporting documents related to its expenditures.

The committee gave the SEDC until June 23 to submit the requested documents and indicated that the commission would be invited for a further appearance after reviewing the records.

This probe is part of the Senate’s ongoing oversight of federal agencies to ensure accountability and transparency in the utilisation of public funds.