Hembe MEMBERS of the House Committee probing the collapse of the capital market and activities of the Security and Exchange Commission (SEC) quit the contentious job yesterday.
Herman Hembe, the Chairman of the House of Representatives Committee on Capital Markets and other Institutions and other committee members threw in the towel to disqualify themselves from the assignment.
They stepped down over allegations that Hembe demanded N44 million bribe from SEC Director-General Ms. Aruma Oteh.
But Hembe alleged Oteh tried to influence the committee’s probe of her commission with N30 milliom bribe.
The Nation yesterday reported exclusively that Hembe would quit the committee’s chairmanship following Oteh’s weighty allegation.
Speaker Aminu Tambuwal announced an eight-member ad-Hoc Committee to continue the investigation.
Besides, Hembe’s case was referred to the House Committee on Ethics and Privileges.
The Chairman of the Ethics and Privileges Committee, Gambo Musa, who was part of Hembe’s 30-member committee, will not be in the committee to investigate the bribery allegation.
The proposed two-week public hearing by Hembe’s committee to “identify the manifest causes of the near collapse of the capital market with a view to finding lasting solution”, went off course when Oteh alleged the committee chair demanded a N44 million bribe from her commission.
The House has nonetheless vowed to get to the root of the rot in the capital market.
The new committee is headed by Ibrahim Tukur El-Sudi (PDP, Taraba). Minority Whip Samson Osagie (ACN, Edo) will temporarily chair the Ethics and Privileges Committee. The inauguration of the ad-Hoc Committee followed Hembe’s request to step down to clear his name.
Hembe of the Peoples Democratic Party (PDP), Benue State.
Before the day’s business began under the point of order, Hembe sought the approval of the House to step down with other committee members.
He alleged that the SEC chief who attempted to bribe the Committee with N30 million.While regretting that his integrity was called to question by Ms. Oteh, who labelled the committee a “kangaroo committee”, Hembe backed his claim with three official SEC internal memoranda.
He threatened to seek compensation through judicial assistance to restore his public perception, which he said has been damaged by the allegation.
Saying that the incident of March 15 was rather unfortunate, Hembe noted: “Rather than answering questions on serious matters put to her, she chose to proceed on the voyage of false accusation against my person and went ahead to declare the entire committee a kangaroo committee.
“I stand before you this morning to reaffirm my innocence regarding the allegations made against me by the Director-General of SEC.
“I want it to be on record that I demanded for no bribe and took no bribe; rather, I fought back efforts by the SEC DG to expose us to inappropriate influence.
“I think it is in the interest of protecting my integrity because my integrity as a person has been called to question, which has further affected the integrity of the House as a whole. In order to put this matter to a stop because it has attracted tremendous media attention, there is need for me to make clear statement as to the fact that I am innocent on this matter.
“This is distortion and it is incumbent on me to say that contrary to the ploy the Director-General of SEC` made, it was she, via the memo I have here that made an overture, trying to propose that she gives us N30 million. The memo was signed and even the Board of SEC approved that request.
“I made this statement so that my name will be cleared. This is the truth and in the interest of fairness and fair play, I humbly say we disqualify ourselves, as a committee, from going on with that probe.
“On that note, my point is that I made no attempt to collect any bribe but rather worked hard to resist the temptation of being offered any bribe.”
Hembe vowed to defend his integrity. He said: “In my innocence, however, I am aware of the impact of this false allegations on public perception, and as a legal practitioner, I am conversant with the principles of law and in the exercise of judicial or quasi judicial functions, it becomes inappropriate to continue to preside when allegations bordering on pecuniary interest are made against your person.
“As I earlier indicated my willingness to submit myself to legal scrutiny, I hereby reaffirm that position. I here and now add that I am ever willing to submit myself to the jurisdiction of the House Committee on Ethics and Privileges. I hereby disqualify myself and urge the House to withdraw the entire committee from further conducting the investigative hearing.
“I remain persuaded; however, the resolution of the House to investigate the Nigerian capital market remains most commendable and timely and should be carried to its logical conclusion.”
Hembe served notice of his next action, saying: “I still reserve the right and liberty to go to court, not only to obtain a judicial stamp of innocence, but to receive full compensation for the obvious damage these false and spurious allegations have caused me.”
Chief Whip Ishiaka Bawa (PDP, Taraba), in a motion immediately after Hembe’s speech, moved to back the withdrawal as well as the need to continue with the investigation, in addition to the investigation of Hembe’s committee on the allegations of the SEC DG by the Ethic and Privileges Committee.
Tambuwal said the House had just survived another challenge, emerging stronger in its stride to bring transparency and accountability to bear in governance.
Tambuwal said: “This morning (yesterday), we passed through yet another challenge which, though not unusual in the democratic process, has subjected this institution to further refining. These challenges are necessary for the strengthening of our democratic institutions.
“This is no doubt a responsibility which is hazard prone. However, as I have stated elsewhere, these hazards notwithstanding, it is a duty from which we cannot and must not abdicate.
“Let me assure Nigerians, once again, that we are totally committed to the fight against corruption and shall deploy all energies available at our disposal to fight this war. The old saying that when the going gets tough, the tough gets going will continue to be our guide.
“I also wish to assure Nigerians that in fighting this war, we recognise that we must, like Caesar’s wife, be above board and suspicion. For the avoidance of doubt and the benefit of those who may be uninformed, all Committees of the House have constitutional backing.”
The Speaker reminded his colleagues that they were not elected to lie on a bed of roses as the electorate expected the lawmakers to represent their yearnings and aspirations.
He said: “Nigerians have chosen presidential democracy as a bulwark against dictatorship, against corruption and waste and, above all, against executive recklessness. This is the duty to which we have been called and we have sworn to promote, protect and preserve the will of the people enshrined in the constitution.
“Pursuant to this resolve, the ad-hoc committee just constituted will commence the investigative hearing based on the earlier resolution of the House de novo and for the benefit of Nigeria and Nigerians.”
Tambuwal urged Nigerians not to withdraw the confidence they have in the 7th Assembly and restated the legislators’ determination to safeguard the trust against abuse.
“The House of Representatives will continue to be a bulwark against injustice and vanguard for the promotion of good governance and the defence of the interests, yearnings and aspiration of Nigerians,” he said.
Other members of the ad-Hoc committee are: Bimbo Daramola (ACN, Ekiti), Rose Okoji Oko (PDP, Cross Rivers), Yakubu Dogara (PDP, Bauchi), Usman Abdulahi (ANPP, Kano), Tobi Okechukwu (PDP), Ini Udoka (PDP, Akwa Ibom).
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