Refund N593m vehicle allowances Senate directs SEC DG, others

 The Director General of the Securities and Exchange Commission (SEC) has directed by the Senate to refund N594 million illegal vehicle allowances into

to the Consolidated Revenue Fund of the Federal Government.

The resolution of the Senate followed its adoption of the recommendation of the Senate Public Accounts Committee on the 2018 report of the Office of the Auditor-General of the Federation (AuGF) which indicted the agency.

The Committee said it sustained the indictment against the agency following its failure to appear before it defend the AuGF query against it.

Although, the Commission made a written submission, but failed to appear before the Committee chaired by Senator Matthew Urhoghide (PDP – Edo South).

The AuGF query reads: “In 2013, the Director -General, while serving as Executive Commissioner, was paid the sum of N39 million as monetized car allowances to run for four years, but two years on his appointment as Director General, he was again paid the sum of N84 million as monetized car allowances.

“In 2015, the Commission procured four project vehicles to meet its need at the sum of N144 million, but instead of making use of the vehicles for purposes they were acquired, the Director General and Commissioners turned them to their sole uses, which contravened chapter 9 (1)&(11) of the Commission’s Condition of Service.


Khaleel Reporting For ChampionMedia123


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