Senate Questions SEDC Over Missing N4 Billion

The Senate Committee on the South East Development Commission (SEDC) questioned the commission on Tuesday about over N4 billion it could not account for from its 2025 budget.

This happened when the Managing Director of the SEDC, Mark Okoye, came to the committee's meeting. He was there with Sylvester Okonkwo, who used to be the chief of staff to Senate President Godswill Akpabio, to explain how the commission spent its money this year.

Records show that the SEDC received N16.6 billion for its activities in 2025. The committee chairman, Orji Kalu, asked about the commission's role in developing the South-east and wanted details about how the budget was used.

Mr Kalu, who represents Abia North Senatorial District, pressed Mr Okoye on how much money was left in the commission's account and how the funds were spent. He said, "We’ll not tolerate anything, whether you’re appointed by heaven and earth. My duty is to do my duty, and we’re to do our duty as parliamentarians. I don’t care how you reached here, but the constitution has given me, all of us, a job to do, and we must guide you to do it according to the laws of Nigeria."

He continued, "The question I want to ask you is that, you receive N16.6 billion, how much is left in your account?" Mr Okoye replied that the commission had between N11.5 billion and N12 billion still in its account, saying that more than N4 billion had been spent on running costs.

He stated, "At the last time we checked and the last information that was given to me, the SEDC should have at least between N11.5 to N12 billion in its account." But Mr Kalu did not accept this answer, saying it did not match the information from the committee or the Central Bank of Nigeria (CBN).

He demanded a full breakdown of the spending. He said, "In the committee, we have access to anywhere you can spend money and keep money. These people are not people you know; they’re government officials. I have spoken to the Central Bank, I can go to my office and give you documents now, and we have sent the Auditor General to audit everything you have done because I am not impressed."

Since Mr Okoye could not provide the details needed, he was asked to return to the committee next Tuesday with proper documents showing how the money had been spent. Mr Kalu said, "We’re not satisfied with your job, this is not a job somebody that claims to be an expert like you should be doing. I’m very disappointed, and this committee is very disappointed, and we give you one week to go back and tell us the whole truth on this thing and come back to the committee because you’re wasting our time. We want to see you back next Tuesday."

The senator also claimed that the commission pays N153 million every year for a small office in Abuja, even though it has its main office in Enugu. He said, "You have one little office here in Abuja and you pay N153 million, by one room. This committee knows. You’re dealing with people who have gone far than you think you can go. This is why I’m warning you people, let us not continue this joke here. I want to save you from a problem."

The SEDC is one of the newest regional development commissions set up by President Bola Tinubu's government. This commission aims to tackle development issues in the South-east.

President Tinubu signed the South East Development Commission (Establishment) Bill into law in 2024, and the commission's board started work in February 2025. This makes it less than two years old.

The SEDC was created to boost infrastructure, economic growth, and social development in the five South-east states: Abia, Anambra, Ebonyi, Enugu, and Imo. Its goals include fixing roads and houses damaged by the civil war, dealing with environmental issues, promoting industries, supporting farming, attracting investments, and creating jobs in the region.

Political leaders and groups in the South-east welcomed the SEDC's creation. Many see it as a needed intervention to fix years of neglect and lack of infrastructure in the area.

But if the commission fails to provide clear spending records, it could lose trust with lawmakers and the public. People in the South-east expect the agency to deliver real projects. This situation might lead to stricter monitoring, audits, and calls for more financial honesty in managing public money.