SEC boss says House members demanded N44 million bribe

SEC DG, Aruma Oteh,

Under fire Director General of the Security and Exchange Commission,Arunma Oteh, fought back fiercely today after being accused by lawmakers for abusing her office and embarking on limitless spending.

Today, Ms. Oteh said the lawmakers are furious at her because she turned down the request of the chairman, House capital market committee, Hernan Hembe, for a N44million tip.

Ms Oteh said the lawmaker first asked for N39 million to defray the cost of the ongoing public hearing, and when she denied, the chairman asked for N5million.

That was in addition to the commission sponsoring a foreign trip for members of the committee, and paying them estacodes.

The hefty accusations have unsettled the mood at the hearing, which is being beamed live on television, and lawmakers are scrambling to play down the concerns.

After the allegations were made, Mr. Hembe asked to identify representatives of the EFCC and the ICPC at the hearing, and said he was surrendering himself to their probe over the charges.

Lawmakers discussed informally the possibilties of containing the news, with senior members questioning why the event was screened live in the first instance.

Premium Times could not ascertain the veracity of Ms. Oteh’s allegation against the lawmaker but sources close to her said she arrived the hearing today fuming and threatening that she would unsettle the lawmakers and make them pay dearly for humiliating her Wednesday.

More to come…


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  • nicebabe

    Are the allegations against her based on the fact that she refused to bribe the committee members? Is the evidence against her on the issues of amounts she expended on feeding, accomodation, hiring staff etc based on her refusal to bribe the committee members. Why is she divulging this information now? is this not the case of a drowning woman seeking not to go down alone?

  • Suleiman

    This lady lacks common decency and morals. Shame on her. I wonder if these corrupt men and women ever have a concience. Otherwise, how would one be so calous to see other people’s children dying of starvation and lack of medical care while their own children go on spending spree?

  • WHAT IS GOOD IS GOOD FOR THE GEESE IS ALSO GOOD FOR THE GANDER. FIRE ON MS. OTEH YOU SHOULD NOT GO DOWN ALONE. THE BABIES WHO SAY THEIR MAMA NO GO SLEEP DEM MA NO GO SLEEP. WE NIGERIANS GO HELP UNA STAY AWAKE UNTIL WE HEAR AND SEE HOW THE THING GO FINISH.

  • Blessing Ekpere Ogbu

    it is disturbing that the DG of SEC could fail to answer questions addressed to her, questions that question her integrity & ability to hold that sensitive. It is deplorable that politicians, as result of their penchant for lucre, have placed themselves in a very disadvantaged & vulnerable position where obvious thieves as this woman will use them as buffer.

  • Guest

    People will be fooled into believing that this public hearing by these senators is what will stop excesses in public service. Yesterday it was the NNPC, today it is the SEC. Who is going to check the excesses of the legislators?

  • Hayatu

    The bottom line is did she eat food worth N850,000 a day. This just diversion to cover her insanity. We have such allegations before.

  • Dede

    This is just “eha aja”, So because they asked for bribe which you are now saying You did not give is the reason why we Over Taxed Nigerians should being paying for you indefinite stay in NIcon Hilton. Shame on you.

  • Cromng

    Her accusation may be defensive, but it is certain she mismanaged funds. Even if her accusation of the committee is true as is common, it is because she is fraudulent. Was Okonjo Iweala demanded of any ransom. She must know that corruption begets corruption and because she is greedy and selfish we are now privileged to know all these. that is how all of them will be exposed. Let her answer the questions of fraudulence and corruption against her and let EFCC get ready for her. I am a witness that she abandoned her office works and the sufferings of Nigerians who suffered in the hands of stock brokers to gallivant about. Some of those cases are at the tribunal and for some Nigerians who do not know what to do they suffer the loss.

  • Elbashali

    As long as we (Federal Govt, State Govt, Local Govt, Civil Servants, Contractors…….. Nigerian) will continue to rely on the monthly allocation Nigeria will never get out of her destructive path (i.e CORRUPTION).