Senate Queries SEDC Over ₦16.6bn Expenditure, Demands Detailed Financial Records
The Senate Committee on the South East Development Commission (SEDC) has queried the management of the Commission over the utilisation of ₦16.6 billion released from the 2025 budget, directing its Managing Director, Mark Okoye, to provide comprehensive details of the expenditure within a stipulated period.
The committee, chaired by Senator Orji Uzor Kalu, raised concerns over several entries in the Commission’s financial report, including an alleged ₦153 million spent on a liaison office in Abuja and another ₦2.5 billion listed as “implied expenditure.” Lawmakers described the financial submissions as inadequate and requested detailed documentation to justify the spending.
According to the committee, records available to it indicated that about ₦13 billion remained from the ₦16.6 billion released to the Commission, leaving approximately ₦3.6 billion already expended and requiring proper accountability. Senators insisted that all expenditures must be backed by verifiable records and supporting documents.
Responding to the concerns, SEDC Managing Director Mark Okoye defended the Commission’s financial management, stating that available resources were being carefully deployed to priority projects while avoiding unfunded liabilities. He explained that budgetary allocations do not necessarily translate into immediate cash releases and that the Commission was adopting a cautious approach to project execution.
The Senate Committee, however, maintained that the explanations provided were insufficient and directed the Commission to submit comprehensive financial records, including contract details, payment schedules and other supporting documents for further legislative scrutiny.
The hearing forms part of the National Assembly’s oversight responsibilities aimed at ensuring transparency and accountability in the management of public funds allocated for the development of the South-East region.
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