The resignation or withdrawal as the case may be of Mr Hembe and his committee from the capital market investigation given the weighty allegations made by Madam Oteh is unavoidable. The House took the wise decision to force the withdrawal of the controversial committee.
However, one is worried that Mrs Oteh still sits comfortably at the helms of the Securities and Exchange Commission despite very damaging allegations of corruption and compromises made against her and her Board, of which the resolution of the Board on her prompting to generously award the sum of N30 Million of the taxpayer’s money to a Committee fully funded under the Appropriation Act is the most embarrassing. No matter what her defence might be, Mrs Oteh no longer deserves to remain as the head of SEC. This is the only decent option for her in the circumstances. If she does not resign, many Nigerians will be pardoned to dismiss her as a public enemy.
The matter should not end there, both Mr Hembe and Madam Oteh should be invited immediately by the EFCC and the ICPC to explain their roles in the despicable corruption allegations. It is wrong for the EFCC and the ICPC to wait for the conclusion of the investigation of the capital market. The subject matter of the investigation is different from the allegations arising from the investigation.
