EFCC Recovers Over N115 Billion for NDDC from Oil Firms

The Economic and Financial Crimes Commission (EFCC) announced on Wednesday that it recovered over N115 billion in statutory levies owed to the Niger Delta Development Commission (NDDC) by defaulting oil companies between 2021 and 2023. Mr. Francis Oka-Phillips Usani, representing the EFCC, presented the recovery details to the Senate Committee on Public Accounts, which is investigating the Nigeria Extractive Industry Transparency Initiative (NEITI) 2021-2023 Oil and Gas Sector Audit findings.

The total recovery includes N76.883 billion and $81.076 million, with 43 oil companies investigated, of which 24 were found liable. The investigation led to some companies paying N6.709 billion and $16.994 million directly to the NDDC.

Out of the recovered sums, N73.373 billion and $67.070 million have been released to the NDDC, leaving a balance of N3.510 billion and $14.005 million in the EFCC's recovery account. The committee has summoned the Managing Director of Total Energies to appear in person due to underrepresentation in the audit report.