The decision of the Federal House of Representatives not to appropriate funds to the Securities Exchange Commission (SEC) for the 2013 fiscal year is not down to a vendetta agenda against Director-General of the agency, Ms. Arunma Oteh.
Members of the House of Representatives and the director-general have been embroiled in a long-drawing war since the probe of the commission by the lower chamber almost one year ago, during which the DG accused the probe committee of demanding bribe from the SEC. The probe eventually ended with a strong reprimand of the DG by the Federal Government, but the lower chamber has rigidly maintained that Oteh must be sacked, at all costs.
However, speaking at the weekend, Deputy Chairman of the House Committee on Media, Hon. Afam Ogene debunked claims of a vendetta mission against Oteh, saying that the House had already begun investigations into the activities of SEC before the DG’s allegations against then-Chairman, Hernan Hembe, and the probe could just not be halted because of the allegation.
“Which one came first?” Ogene asked. “This same House was already having a public hearing on SEC when Oteh made her allegations. That an issue arose midway during an investigation shouldn’t abort a process that was already ongoing.
“During this process, issues had been raised regarding Oteh’s competence, regarding some resources of SEC that were paid into private accounts, issues bordering on corporate governance, whereby staffers were recruited from outside the system and issues regarding indecorous working relationship with key commissioners in SEC.”
He added that the issues were already topping the committee’s work before Oteh made her allegations.
“Up till, they are still mere allegations because the parties involved are still in court,” he said. “So, until Oteh proves her allegations, they remain mere allegations. So the above issues had been established long before Oteh made her allegations.”
