The Economic and Financial Crimes Commission (EFCC) says it has recovered over N115 billion in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC) by defaulting oil companies between 2021 and 2023.
The recovery comprises N76.883 billion and $81.076 million, following an investigation into 43 oil companies identified in the NEITI 2021–2023 Oil and Gas Sector Audit.
The EFCC disclosed that 24 companies operating in the Niger Delta were found to have outstanding liabilities, while the remaining 19 companies were cleared of the identified obligations.
According to the commission, some of the defaulting companies have paid N6.709 billion and $16.994 million directly to the NDDC following the investigation.
The EFCC also said it has remitted N73.373 billion and $67.070 million of the recovered funds to the NDDC, with N3.510 billion and $14.005 million remaining in its recovery account.
The investigation focused primarily on shortfalls in the three per cent statutory levy payable to the NDDC, while the EFCC said it would continue to monitor other outstanding statutory obligations and taxes.
Meanwhile, the Senate Committee on Public Accounts rejected an attempt by TotalEnergies EP Nigeria Limited to defend audit queries through a representative, directing its Managing Director to appear before the committee next week.
The committee also issued a final warning to the Managing Directors of South Atlantic Petroleum, Oando Oil, Famfa Oil and Green Energy International to appear in person and respond to the audit queries.
