Senate Queries SEDC Over N4bn Spending

By Babatunji Wusu| The Senate Committee on the South East Development Commission (SEDC) has demanded answers over more than N4 billion spent from the commission’s 2025 budget, raising concerns about transparency and financial accountability within the agency.

The issue came to the forefront when SEDC Managing Director Mark Okoye appeared before the committee alongside senior officials, including Sylvester Okonkwo, to explain the commission’s financial activities.

Budget records show that the SEDC budget for 2025 stood at N16.6 billion. During the session, committee chairman and senator representing Abia North, Orji Uzor Kalu, asked Okoye to disclose the amount still available in the commission’s accounts and provide details of how the funds had been utilised.

“We will not accept any excuses, regardless of your background. My responsibility is to fulfill my duties, and we, as parliamentarians, must fulfill ours,” Kalu stated.

Responding, Okoye said the commission still had between N11.5 billion and N12 billion in its accounts, indicating that more than N4 billion had already been spent on operational activities. However, Kalu challenged the explanation, insisting that the figures did not align with information available to the committee and data obtained from the Central Bank of Nigeria (CBN).

The senator revealed that the committee had requested an audit review and possessed the capacity to track government expenditures. He also expressed concern over documents suggesting that the commission spends N153 million annually on a small office in Abuja despite maintaining its headquarters in Enugu.

Unable to provide a detailed breakdown of the expenditure during the hearing, Mark Okoye was directed to return within one week with complete documentation. The SEDC probe is expected to continue as lawmakers seek greater accountability from the agency.

Established in 2024 and inaugurated in 2025, the South East Development Commission was created to drive infrastructure, economic growth and social development across the South-East region. The outcome of the SEDC probe could play a significant role in shaping public confidence in the commission’s mission.