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Senate gives one week ultimatum to Bank of Agric,NSPMC,Rural Electrification Agency to Appear before it

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By George Mgbeleke

Senate Committee on Public Accounts has given Bank of Agriculture, Nigerian Security Printing and Minting Company, and Rural Electrification Agency
one week to appear before it and respond to outstanding audit queries.

The directive followed their failure to appear before the committee during the committee’s hearing on Tuesday in Abuja.

However, the secretary of the committee informed the chairman of the committee,
Sen Ibrahim Dankwambo ( Gombe North) that he received a correspondence from the Bank of Agriculture signed by its legal adviser.

The letter stated that the bank had previously appeared before the panel between February 2023 and November 2024.

In the letter, the bank also stated that issues raised during those appearances had been resolved with the committee and relevant government authorities.

The bank, however, requested details of any unresolved matters and sought at least two weeks to enable its management collate documents.

The chairman of the committee, Sen Ibrahim Dankwambo (Gombe North)
faulted the letter, noting that it was signed by officials below the rank of Managing Director and Chief Executive Officer.

Dankwambo maintained that all communications relating to committee invitations must be personally signed and transmitted by agency chief executives.

He also criticised the bank’s failure to present its Managing Director before the committee in spite of the fact that they were invited to explain outstanding audit issues.

The committee rejected the request for two weeks, insisting that agencies could not determine timelines for legislative oversight proceedings.

The committee members unanimously resolved that the Managing Director of the Bank of Agriculture must personally appear before the committee within one week.

The lawmakers stressed that previous audit concerns involving the bank remained unresolved, contrary to claims contained in the correspondence.

The committee further warned that future communications signed by subordinate officers instead of chief executives would no longer be entertained.

The lawmakers also described the absence of Nigerian Security Printing and Minting Company and the Rural Electrification Agency as unacceptable and directed that the organisations be given a final one-week opportunity to appear before the panel.

Several members of the committee expressed concern over what they described as a growing pattern of disregard for legislative summons by government agencies.

They noted that audit queries were serious accountability matters requiring prompt responses and should not be treated with indifference by public institutions.

The committee emphasised that it was acting on reports submitted through constitutional processes and not pursuing issues outside its statutory mandate.

The committee warned that agencies failing to honour invitations after the final notice would face sanctions in line with its powers.

Dankwambo said strong letters would be issued immediately to the defaulting agencies outlining unresolved issues requiring their attention.

He added that the agencies must appear within one week or risk sanctions for failing to cooperate with legislative oversight responsibilities

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Business & Economy

South East Dev.Commission’s MD under fire in Senate over financial mismanagement  ….Orders to account for N16.6billion collected from 2025 budget 

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From left: Executive Director, Natural Resources, Agriculture and Rural Development, South East Development Commission (SEDC), Dr. Cliff Ogbede; MD/CEO, Mark Okoye; Executive Director, Finance, Stanley Ohajuruka and Executive Director, Cooperate Services, Dr. Sylvester Okonkwo during a meeting with Senate Committee on South East Development Commission in Abuja June 9th 2026. Photo: Ikechukwu Ibe

9By George Mgbeleke

The Senate Tuesday through its committee on South East Development Commission ( SEDC), took up the Managing Director of the Commission , Mark Okoye over suspected  mismanagement of N16.6billion received from 2025 budget allocations .
The committee chaired by Senator Orji Uzor Kalu ( Abia North) , specifically frowned at N153million the commission claimed it spent to rent one room liaison office in Abuja and N2.5billion categorised as implied expenditure .
Trouble came the way of the MD and other top management staff of the commission when the committee went through financial report submitted to it during  investigative hearing it had with them .
Irked by failure of the MD to account for expenditures made so far from the N16.6billion received so far from federal budget , members of the committee and the chairman , expressed disappointment and vowed to make him account for what has been expended .
Senator Orji Uzor Kalu in particular told the embattled MD that from inquisition made by the committee , the Central Bank of Nigeria had informed it that N13billion is what is left from the N16.6billion SEDC collected in December last year , meaning that N3.6billion has been spent and must be accounted for .
” This committee is disappointed with the financial report given , which is completely unacceptable” , he said .
Other members of the committee like Senator Enyinnaya Abaribe ( Abia South), Victor Umeh ( Anambra Central) , Austin Akobundu ( Abia Central ) , expressed displeasure on the report presented .
However the SEDC MD in his defence , said expenditures carried out so far from money received were judiciously made.
“Our approach has been to ensure that available resources are directed towards priority projects. We want allocations to guide the procurement process so that contracts awarded can be backed by available funding.
“What we want to avoid is a situation where contracts are awarded without the financial capacity to execute them.
 “For example, having a budget of N140 billion does not automatically mean that N140 billion in cash is available.
“It would be irresponsible to award contracts worth the entire budget if only N10 billion or N20 billion has actually been released. Doing so would create unfunded liabilities and a significant financial deficit”
Not satisfied with his explanation , the committee through its Chairman, consequently ,directed  the commission  to submit comprehensive records, including contract details, payment information, and all supporting documents latest by 23rd of this month .
“By the 23rd, we want to have the complete documentation. Once we receive and review the documents, we will determine the date for your next appearance before the committee,” he said.
The Chairman thereafter adjourned the session, reiterating the committee’s expectation that all requested information would be submitted within the stipulated timeframe
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Business & Economy

South East Dev.Commission’s MD under fire in Senate over financial recklessness  ….Orders to account for N16.6billion collected from 2025 budget 

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By George Mgbeleke
The Senate Tuesday through its committee on South East Development Commission ( SEDC), took up the Managing Director of the Commission , Mark Okoye over suspected  mismanagement of N16.6billion received from 2025 budget allocations .
The committee chaired by Senator Orji Uzor Kalu ( Abia North) , specifically frowned at N153million the commission claimed it spent to rent one room liaison office in Abuja and N2.5billion categorised as implied expenditure .
Trouble came the way of the MD and other top management staff of the commission when the committee went through financial report submitted to it during  investigative hearing it had with them .
Irked by failure of the MD to account for expenditures made so far from the N16.6billion received so far from federal budget , members of the committee and the chairman , expressed disappointment and vowed to make him account for what has been expended .
Senator Orji Uzor Kalu in particular told the embattled MD that from inquisition made by the committee , the Central Bank of Nigeria had informed it that N13billion is what is left from the N16.6billion SEDC collected in December last year , meaning that N3.6billion has been spent and must be accounted for .
” This committee is disappointed with the financial report given , which is completely unacceptable” , he said .
Other members of the committee like Senator Enyinnaya Abaribe ( Abia South), Victor Umeh ( Anambra Central) , Austin Akobundu ( Abia Central ) , expressed displeasure on the report presented .
However the SEDC MD in his defence , said expenditures carried out so far from money received were judiciously made.
“Our approach has been to ensure that available resources are directed towards priority projects. We want allocations to guide the procurement process so that contracts awarded can be backed by available funding.
“What we want to avoid is a situation where contracts are awarded without the financial capacity to execute them.
 “For example, having a budget of N140 billion does not automatically mean that N140 billion in cash is available.
“It would be irresponsible to award contracts worth the entire budget if only N10 billion or N20 billion has actually been released. Doing so would create unfunded liabilities and a significant financial deficit”
Not satisfied with his explanation , the committee through its Chairman, consequently ,directed  the commission  to submit comprehensive records, including contract details, payment information, and all supporting documents latest by 23rd of this month .
“By the 23rd, we want to have the complete documentation. Once we receive and review the documents, we will determine the date for your next appearance before the committee,” he said.
The Chairman thereafter adjourned the session, reiterating the committee’s expectation that all requested information would be submitted within the stipulated timeframe.
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Business & Economy

Bayelsa Assembly Hopeful Unveils Blueprint On Human CapitL development

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By David Owei,Bayelsa
Standard bearer of the Peoples Democratic Party (PDP) for Ogbia Constituency one in the 2027 elections into the Bayelsa State House of Assembly, Hon. Whoknows Azibola Odoko has said he would focus on human capital development, amongst others if he is elected into the State legislature.

Odoko stated this during a chat with Journalists in Yenagoa, the state capital yesterday.

Our source gathered that ex-President Jonathan is also a constituent of the Ogbia constituency one.

He said the era of voting for candidates who abandon constituents upon their elections was over, noting that there was nothing better than empowering and building constituents so that they can eke out a living for themselves.

The assembly hopeful averred that if elected, he would amongst other empowerment programmes roll out an educational support scheme for the training and retraining of his constituents.

He also pledged to facilitate the provision of jobs for constituents who have the requisite skills and credentials for employment, saying that under his stewardship as a lawmaker the constituency will heave a sigh of relief.

Speaking on the crisis rocking the PDP, the party’s candidate noted that all the major political parties in the country have their own share of problems, emphasizing that the Peoples Democratic Party would emerge stronger and more united on or before the 2027 polls.

He said: I’ll win the election. My popularity cut across party lines in the constituency and beyond. My teaming supporters are ready and willing to convert the goodwill I enjoy from across the constituency into votes for me come 2027.

“Upon my election I’ll institute an aggressive empowerment scheme in education, jobs creation and employment generation for my constituents.

“The era of electing candidates who don’t have anything to offer to the constituency is over”.

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