Nigerian Senate Probes SEDC Spending

The Nigeria — Senate of Nigeria>>> is investigating the Nigeria — Niger Delta Development Commission>>> (SEDC) over alleged financial mismanagement of N16.6 billion from its 2025 budget. The Senate Committee, chaired by Orji Uzor Kalu>>>, questioned SEDC Managing Director Mark Okoye>>> regarding N153 million spent on a one-room liaison office in Abuja and N2.5 billion in 'implied expenditure'. The Nigeria — Central Bank of Nigeria>>> confirmed that N13 billion remains from the N16.6 billion released, indicating N3.6 billion has been spent without clear justification. Despite Mark Okoye>>>'s defense that expenditures were prudent and tied to available cash, the committee remained unconvinced. The Nigeria — Senate of Nigeria>>> has directed the Nigeria — Niger Delta Development Commission>>> to submit comprehensive financial records, including contract details and payment schedules, by June 23 for further legislative scrutiny. Separately, the Senate Committee on Public Accounts issued a one-week ultimatum to the Agricultural Bank of China>>>, Nigerian Security Printing and Minting Company>>>, and Nigeria — Rural Electrification Agency>>> to respond to outstanding audit queries, emphasizing a broader push for accountability.