SEC

House in session

The House of Representatives scrambled to save its face Thursday, after allegations its committee sought bribes amounting to N44 million from the Security and Exchange Commission, in details put up by the agency’s boss, Arunma Oteh, against visibly cowered lawmakers.

Ms. Oteh, apparently frustrated, after two days of intense criticisms by the legislators inquiring how her leadership has affected the nation’s capital market, fought hard to repel what she said were attempts by members of the House Committee on Capital Market to tarnish her reputation.

The chairman of the committee, Hernan Hembe, Ms. Orunma said, had asked the commission to release N39 million for the organization of the hearing, and when she declined, Mr. Hembe asked for N5 million.

That, she said, was apart from a sponsored trip for the members, underwritten by the commission, to Dominican Republic.

She also disclosed that the wife of the deputy speaker of the House, Emeka Ihedioha, works with the Nigerian Stock Exchange(NSE) in Abuja, an operator under the supervision of the Security and Exchange Commission.

Ms Oteh made that disclosure following concerns raised by the lawmakers that taking key staff of Access bank, an entity she regulates, eroded her oversight obligations on organizations and threw up a conflict of interest.

She dismissed the House hearings as a Kangaroo court, worse than what applied in “Idi Amin’s Uganda.”

Ms. Oteh herself did not deny the allegations of abuse of office levelled against her, including reckless spending and what lawmakers said were flouting of due process, recorded under her management of the commission.

But the accusations, made on a live telecast against a house that has remained moderately quiet on scandals, roused attention, flustering senior lawmakers to explore ways on to minimise damage to the House reputation and restore calm.

The house leadership promptly dispatched Deputy Majority Leader, Leo Ogor, and Chief Whip, Ishiaku Bawa to the sitting to defuse tension.

Mr. Bawa said the hearing could not be different from past ones, and asked the invited officials not to personalize the concerns raised.

“If you have any issue against any member, take it outside and there are established avenues you can seek redress,”  Mr. Bawa said. “But while here, confine yourself to the issues here,” he added.

Other lawmakers outside the venue, questioned why the hearing was televised live in the first instance, expressing concern that proceedings at the session had done incalculable damage to the lower chamber.

Mr. Hembe said he would surrender himself for investigations by the anti-corruption agencies, and denied asking for the funds.

“I will be stupid to ask for such money when I know I can be prosecuted,” he said.

 


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:"Warning to Men, These 3 Foods is Slowly Killing Your Erection". Click Here to Know Them


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • Chilemeh@yahoo.com

    If we as a nation are sincere in our fight against corruption, this development should not be swept under the carpet. These allegations should be investigated thoroughly and offenders prosecuted without fear of intimidation. Else the integrity of the our law makers are at stake in the eyes of Nigerians.

  • Brodawale

    If the Chairman did not ask for bribe, he would never be accused of doing so on a live telecast! He is a thief! You could see that he was jittery and shaken becoause he never expected such a blunt revelation of the truth. I hope he is investigated and pays the price.

  • Gladday

    We have seen this drama before and nothing came out of it. Have you forgothen the case between Mallam El Rufai and the Mantu led group of senators who demanded he bribed them before he was confirmed as a minister? El Rufai was eventually villified for lack of evidence to substantiate his allegations. It will stll be the fate of this case as Ms Oteh does not have any evidence of such demands by the dishonourable members. I just wonder who will be stupid enough to allow for any form of evidence in issues of bribe. Lets just wait and see how the case ends but i bet you NOTHING will come out.

  • dilio

    Will you ever agree you ask for bride, the day a Nigerian politiefs will accept or agree to accepting bribe or wrong doing and resign that is the day this world will come to an end

  • Dejiawodein

    Thumb up for Ms Oteh. Unfortunately in Nigeria we have allowed shallow minds to occupy our leadership positions. Instead of the committee to ask the madam who is an expert that was appointed after a rigorous process how they can help legislate an environment that will make our capital market bouyant, they are making accusations on how much she spent on food. I know that one human being can not eat N850,000 food and as such the money could only have been spent hosting guests.

    If they have no ideas they should shut up and stop talking like illiterates like Idi Amin