Senate Committee Queries SEDC Over N153 Million Office Rent Expenditure

The Senate Committee overseeing regional development agencies has raised concerns over the decision of the South East Development Commission (SEDC) to spend N153 million on the rent of a single office.

During a budget scrutiny session, lawmakers questioned the justification for the expenditure, describing the amount as excessive and demanding detailed explanations from the commission’s management.

Committee members expressed worries about accountability and prudent management of public funds, stressing that government agencies must ensure transparency in their financial dealings, especially amid the country’s economic challenges.

The senators directed SEDC officials to provide comprehensive documentation regarding the office rental agreement, including the location, duration of the lease, and the procurement process that led to the approval of the payment.

The committee maintained that all expenditures by government agencies must be subjected to strict oversight to ensure value for money and compliance with financial regulations.

The development is expected to trigger further scrutiny of the commission’s spending patterns as the National Assembly intensifies efforts to promote accountability in public institutions.