EFCC Recovers N115bn, $84m from Oil Firms for NDDC

The Economic and Financial Crimes Commission (EFCC) has recovered more than N115 billion and $84 million in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC) by oil companies. This information was presented to the Senate Public Accounts Committee, chaired by Senator Ibrahim Dankwambo, during an investigation into the 2021–2023 Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Industry Audit Report.

EFCC representative Francis Usani stated that 43 oil companies were investigated, with 24 found to owe N76.88 billion and $81.08 million in three percent statutory levies. The investigation led to some companies settling their obligations directly with the NDDC, resulting in payments of N6.71 billion and $16.99 million.

The EFCC has released N73.37 billion and $67.07 million of the recovered funds to the NDDC, with N3.51 billion and $14.01 million remaining in the EFCC’s recovery account. Usani emphasized that the investigation focused on unpaid levies but acknowledged the potential for other outstanding obligations to the Federal Government.