SENATE COMMITTEE QUERIES SEDC OVER N16.6BN EXPENDITURE, DEMANDS FULL FINANCIAL RECORDS

SENATE COMMITTEE QUERIES SEDC OVER N16.6BN EXPENDITURE, DEMANDS FULL FINANCIAL RECORDS

• Njoku Macdonald Obinna

Abuja, Nigeria🇳🇬

The Senate Committee on the South East Development Commission (SEDC) has intensified its oversight of the commission, questioning its management over the expenditure of funds received from the Federal Government and demanding comprehensive financial records for scrutiny.

At an investigative session in Abuja, Tuesday June 9, 2026, the committee, chaired by Senator Orji Uzor Kalu, expressed dissatisfaction with the financial report presented by the Managing Director of the SEDC, Mark Okoye. Lawmakers raised concerns over expenditures running into billions of naira, including a reported N153 million spent on renting a liaison office in Abuja and another N2.5 billion classified as “implied expenditure.” Members of the committee maintained that the explanations provided did not sufficiently account for the utilisation of public funds released to the commission.

According to the committee, information obtained from the Central Bank of Nigeria indicated that out of the N16.6 billion released to the commission in December 2025, about N13 billion remained in its accounts, leaving roughly N3.6 billion already expended and requiring proper documentation. Senator Kalu described the financial report as unacceptable, stressing that the National Assembly would not compromise on transparency and accountability in the management of resources meant for the development of the South-East region. Other lawmakers, including Senators Enyinnaya Abaribe, Victor Umeh and Austin Akobundu, also faulted the report and called for greater financial clarity.

Defending the commission’s actions, Okoye said the SEDC had adopted a cautious spending approach aimed at ensuring that projects and contracts were backed by actual cash releases rather than budgetary projections. He argued that awarding contracts without available funding could create unfunded liabilities and undermine the commission’s long-term development objectives. The SEDC management has previously outlined ambitious plans for regional infrastructure, economic empowerment and investment-driven growth, supported by its proposed N140 billion 2026 budget.

However, the Senate committee insisted that every expenditure must be fully accounted for and directed the commission to submit detailed records of contracts, payments and supporting documents on or before September 23. The committee said it would determine the date for the commission’s next appearance after reviewing the requested documents.

The development underscores the Senate’s earlier pledge to maintain strict oversight of the commission and ensure that funds allocated for the development of the South-East are managed prudently and transparently.

Njoku Macdonald Obinna

Media Consultant|Newspaper Columnist|Public Analyst|PR- Expert

Publisher,

4TH  ESTATE REPORTERS

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ABOUT THE PUBLISHER

Njoku Macdonald Obinna is a distinguished media consultant, public relations expert, and publisher of 4th Estate Reporters. With an impressive career spanning over 2 decades in the media and communications industry, he has built a solid reputation for excellence, strategic insight, and impactful storytelling.

Macdonald had served as a Correspondent with Ben TV London in Port Harcourt , and had also featured very prominently in national newspapers before establishing his media outfit.

He is the South East and South - South Business Operations Manager of Excel International Media group, and had attended a couple of international conferences outside Nigeria.

As an award- winning media personality, Macdonald has used his wealth of experience in communications strategy and public engagements to promote African culture and festivities, sports development, political leadership, and traditional institutions.

He has executed social documentaries and corporate profiling of both companies and individuals, leveraging media and public relations to enhance organizations profile and activities.

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