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Keyamo petitions EFCC, ICPC, SEC

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7 years ago

January 26, 2018

Olu Emmanuel

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Requests public presentation of investigation report on suspended SEC DG

A renowned legal luminary, Festus Keyamo, has petitioned that the various law enforcement agencies involved in the investigation of the suspended Director General of the Security Exchange Commission requesting for public presentation of the report of the investigation.

Keyamo in a letter to the Administrative Panel of Inquiry investigating the Director-General of the Securities and Exchange Commission; the Minister of Finance, Mrs. Kemi Adeosun, The Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, and The Chairman of Independent Corrupt Practices and Other Related Offence Commission, dated 24^th January, 2018, complained that “it is disheartening that several weeks after the Administrative Panel of Inquiry was established, Nigerians who have been patiently expectant, are yet to be informed of the Report of the Investigation or indeed the progress of the said Inquiry.”

He expressed his expectation that the investigation will be swift and thorough as the issues raised touch on the twin evils of corruption and impunity. “Despite the inordinate delay, I am still confident that the investigations have not been compromised,” he added.

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Keyamo, thereafter, demanded: “I am by this letter kindly requesting that the Investigation Report be made public irrespective of whose ox is gored as this would help correct the perception that the anti-corruption crusade has been bedeviled by politics and ethnicity. Nigerians deserve to know the truth and the falsehoods in the allegations and counter-allegations that have characterized the investigations into the activities of the DG of SEC and Oando Plc.”

Keyamo recalled that on 5^th of December, 2017, he wrote a letter to the agencies on the above subject matter, requesting a thorough investigation into the activities of the erstwhile Director-General of the Securities and Exchange Commission.

He stated that in the earlier letter, his Chambers raised the following questions:

1. Did the suspended DG of SEC pay to himself the sum of N104,851,154.94 as ‘severance benefits’ for his elevation from Executive Commissioner of SEC to DG of SEC despite not having completed his tenure as Executive Commissioner in contravention of Section 1 of the Code of Conduct for Public Officers set out in the Constitution of the Federal Republic of Nigeria and Section 19 of the Corrupt Practices and Other Related Offences Act?

2. Did the suspended DG of SEC award contracts to companies like Outbound Investment Limited, Northwind Environmental Services and Micro-Technologies Nigeria Limited in which he and his cronies are both directors and shareholders in contravention of Section 1 of the Code of Conduct for Public Officers set out in the 5^th Schedule of the Constitution of the Federal Republic of Nigeria ,Section 101 of the Criminal Code Act Cap C38 Laws of the Federation and Section 19 of the Corrupt Practices and Other Related Offences Act?

3. Did the suspended DG of SEC divert for his personal use the vehicles belonging to the Securities and Exchange Commission despite receiving the sum of N84,388,886.00 as monetized car grant/allowance for four cars in contravention of Section 1 of the Code of Conduct for Public Officers set out in the Constitution of the Federal Republic of Nigeria and Section 19 of the Corrupt Practices and Other Related Offences Act?