(SEC), Ms Arunma Oteh And Hon. Herman Hembe,
Who initiated the “bribe” process? According to the Chairman of the House Committee on Capital Market, Hon. Herman Hembe, it was the Securities and Exchange Commission (SEC) that generated an internal memorandum seeking to “support” the public hearing with a donation of N30 million. (He has Proof)
He brandished copies of the memorandum to support his claim.
But a SEC source Claims: “The House committee sent a letter of invitation to SEC for the public hearing. The letter contained requirements listed by the committee needed to facilitate the hearing. Based on those requirements and as part of its responsibilities regarding the development of the capital market, the DG recommended that N30 million be approved. The approval was made and in line with public service payment process, the payment was to be made through electronic system.
But that same evening of the fateful Tuesday, Hembe sent a proxy asking for N5 million out of the approved N30 million. This aroused the Commission’s suspicion, which led to the Commission putting a hold on the entire payment process.” Hembe has denied asking for a bribe.
Can SEC Produce this Letter?, If the Letter Exists, then we are in trouble in Nigeria,
The House asks for 30m to facilitate a hearing on corruption?
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Corruption in the house is common and daily occurence. Do you want to say you did not know what it cost to pass a bill in the house. Ask the Human right organisation. you will first be ask to go and find a sponsor after which you will be given a bill in millions as administrative cost of getting your bill passed. That is the reason bills affecting the welfare of common man has not seen the light of the day as there are no sponsors. God save Nigeria.
ReplyDeleteif it is true that SEC offered the bribe, why didnt the members cry foul since then? why did they wait until they were first accused of wrong doing? Hembe is not a serious man, he doesnt even understand the workings of the capital market.. he said SEC did not protect investors of the nationalized banks! the man forgot that the banks' capital had been eroded and the shareholders had negative investments so to speak, before the intervention! SEC had little to do with it really.
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