SEC DG, Top Management Staff In N593 Million Vehicle Allowances Scandal

The upper chamber of the National Assembly has beamed its light on the vehicle allowances scandal rocking the Securities and Exchange Commission (SEC) and its commissioners.

The Director General of SEC and its commissioners have been caught in the N594 million vehicle allowances scandal.

The Senate, however, ordered affected official to refund the money to the Consolidated Revenue Fund.

The decision of the Senate was sequel to the failure of the officials of the Commission to defend the serious allegations raised in the 2018 Auditor General report.

The Commission failed to appear after a series of letters of invitations were sent to it to defend the allegations before the Senate Public Accounts Committee, chaired by Senator Mathew Uhroghide.

Although, the Commission made a written submission but it fails to appear before the Senate Committee.

The Senate was therefore left with no other option than to sustain the position of Auditor General of the Federation on the allegations and forwarded the report to the Office of the Secretary to the Government of the Federation.