EFCC quizzes Oteh over misuse of funds

EFCC quizzes Oteh over misuse of funds

The Economic and Financial Crimes Commission, EFCC, has opened investigations to ascertain the veracity of allegations leveled against embattled Director General of Securities and Exchange Commission, SEC, Arumma Oteh.

The ongoing probe of activities of Nigeria’s Capital Market by the House of Representatives Committee on the Capital Market has thrown up a lot of several allegations of financial impropriety and high-handedness on the part of Oteh.

According to the EFCC acting Head of Media and Publicity, Mr. Wilson Uwujaren, the agency operatives had obtained statements from Oteh on the allegations made against her.

The Post understands that the operatives have intensified efforts to verify the allegations in a bid to determine Oteh’s culpability. For instance, Oteh was accused of squandering several millions of naira on hotel bill among other misapplication of funds.

Oteh was alleged to have spent N30m during her eight-month stay at the Hilton Hotel in Abuja where she allegedly spent N850,000 on food on a single  day.

The SEC DG is also accused of abusing her office by engaging two members of the staff of Access Bank on secondment to her office without due process.