UNILAG AD
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, August 17, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • #PandoraPapers
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • #PandoraPapers
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
Herman Hembe faces corruption allegation from SEC DG, Arunma Oteh

Herman Hembe faces corruption allegation from SEC DG, Arunma Oteh

In resigning, Hembe accused Oteh of offering him N30 million bribe

March 20, 2012
Reading Time: 2 mins read
1

Embattled chairman of the House of Representatives capital market committee, Herman Hembe, stood down today over accusations he solicited N44 million bribe from the Security and Exchange Commission, in an scandal that once more steered the House into the blaze of fierce public anger.

The other members of the committee are resigning too, Mr. Hembe said, in an address to the House Tuesday, at a crucial session convened to help roll back national fury that have attended the allegations.

The allegations, made on Thursday by the Director General of the capital market regulator, Arunma Oteh, are to be investigated by the House Ethics and Privileges committee, under an interim chairman, Samson Osagie(Edo, ACN), and the findings made known in 14 days.

The capital market public hearing, at which the accusations were made, will continue under an ad hoc committee named today by speaker, Aminu Tambuwal. The new committee will be headed by Ibrahim Tukur Sudi(PDP, Taraba state).

The measures, racked together after series of meetings between Mr. Hembe and the leadership over the weekend, appeared somewhat prepared, and was clearly targeted at dousing public anger and proving to a distrustful public that the House had no tolerance for corruption.

Mr. Hembe was first to speak as the house convened, reaffirming his innocence and willingness to face inquiry, and announcing his resignation. “I have not, and will not let you down,” he told his colleagues. “I want to put on record that I demanded no bribe and took no bribe.”

The remarks were followed by a motion by the House Chief Whip, Ishaku Bawa, calling for the house to accept the decision, and to name an ad hoc committee as well as mandate the Ethics committee to probe the allegation of bribery against Mr. Hembe and the committee.

But in announcing his stepping down to the applause of his colleagues, Mr. Hembe added a new twist to the nauseating episode, dispelling accusation he asked for kickbacks, but accusing Ms. Oteh of offering him a N30 million bribe.

“I made no attempt to collect any bribe, rather I worked hard to avoid the offer of such by the SEC DG,” he said, lifting a supposed internal memo of the exchange commission, in possession of the committee to back the claims.

TEXEM Advert

The documents obtained by Premium Times offer a rare glimpse into the workings that have seemingly blurred the line between the legislature as the over sighting arm, and the government bodies meant to come under the regulation of the lawmakers.

In the commission’s first internal memo, dated March 1, 2012, The DG, Ms. Oteh, is informed by a departmental head named Hassan Mamman, about the letter of the House committee, informing the commission of the public hearing. The official suggested that the commission consider to “assist” the committee by “co-sponsoring” the three-week long event.

“It is our considered opinion doing this will be of immense benefit to the nation’s capital market,” Mr. Hassan wrote. Ms Oteh advised contacts could be made to “cement our relationship with NASS” and the fact that the hearing will “favour the purpose of our capital market.”

A follow-up letter on March 9, purportedly written after the committee had been contacted, told Ms. Oteh of how the lawmakers “welcomed this development and accordingly forwarded a budget estimate.” This was against House practice under which adequate provisions are made for all hearings of the House.

Most strikingly, the memo recommended that “two items only” from the budget be sponsored. That included live coverage(N26.2 million) and Secretariat needs(N4.2 million) totaling NN30.4 million, which Mr. Hembe referred to.

On that letter, Ms. Oteh minuted “You may consider.”

 

 

 

  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • WhatsApp
  • Share on Tumblr
  • Pocket


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate



TEXT AD: Call Willie - +2348098788999






PT Mag Campaign AD

Previous Post

VIDEO: Herman Hembe defends self: "I took no bribe"

Next Post

Flamingoes step up preparation for Zambia in Abeokuta

More News

Mr Umana Okon Umana, Minister, Niger Delta Affairs (2)

Umana speaks on constitution of new board for NDDC

August 17, 2022
Governor Wike and Atiku Abubakar

Why Atiku, Wike’s reconciliation committee failed to meet

August 17, 2022

Strike: ASUU President, others to speak on PREMIUM TIMES Twitter Spaces

August 17, 2022
Presidential candidate of the APC at the residence of the former President Olusegun Obasanjo.

Tinubu visits Obasanjo in Ogun

August 17, 2022
Nigeria Police officers on duty

Police arrest suspended Anambra council chairman over wife’s death

August 17, 2022
Secretary of State Antony J. Blinken meets with Democratic Republic of the Congo President Felix Tshisekedi and Foreign Minister Christophe Lutundula in Kinshasa, Democratic Republic of the Congo, on August 9, 2022. [Photo credit: © State Department Photo by Freddie Everett/ Public Domain]

ANALYSIS: US-Africa Relations: Will Blinken’s charm offensive be effective?

August 17, 2022
Read All Comment

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2022 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • PT Hausa
  • Dubawa NG
  • Careers
  • Contact Us
  • Digital Store

All content is Copyrighted © 2022 The Premium Times, Nigeria