N44m Bribery Scandal: Panel Chair Steps Down

The chairman, House of Representatives committee on Capital Market and other Financial Institution, Honourable Herman Hembe has stepped down as the chairman of the committee probing the activities of the Nigeria Stock Exchange and the Security and Exchange Commission (SEC).

This came after the Securities and Exchange Commission (SEC) Director-General Ms Arunma Oteh accused him of demanding N44 million bribe from her.

Mr. Hembe says he took no bribe but ” worked hard to avoid the offer of such” from SEC DG.

Ms Oteh made the allegation before the probing panel last week Thursday in response to claims by the Committee that she has mismanaged the affairs of the commission and the committee was out to tarnish her integrity.

She questioned the credibility of the Chairman of the committee in conducting the probe, considering her allegations.

In his response, Mr Hembe noted all the allegations listed by the SEC and subjected himself and the committee to another probe which he ordered the Economic and Financial Crimes Commission (EFCC) to take up.

Ethics committee to probe the allegation while the public hearing continues under an ad hoc committee.

  1. Dashutt james Reply

    Three gbosa for oteh. why do you see the speck that is in your sister‘s eye,but do not notice the long one that is in your own eye? (Matt. 7:3)mr chairman nawa ooo. Efcc ohya ooo

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