The Economic and Financial Crimes Commission (EFCC) has recovered more than ₦115 billion in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC) by defaulting oil companies between 2021 and 2023.
The recovery comprises ₦76.883 billion and $81.076 million, EFCC representative Francis Oka-Phillips Usani told the Senate Committee on Public Accounts on Wednesday.
Usani disclosed the figures while appearing before the committee during its investigation into the 2021–2023 Oil and Gas Sector Audit Report of the Nigeria Extractive Industries Transparency Initiative (NEITI).
According to him, the EFCC investigated 43 oil companies over unpaid statutory levies equivalent to three per cent of their relevant revenue, which are payable to the NDDC.
He said 24 of the companies operating in the Niger Delta were found to have outstanding liabilities totalling ₦76,883,705,907.17 and $81,076,655, while the remaining 19 companies were cleared of any outstanding obligations.
“At the commencement of the investigation, EFCC invited 43 oil companies, out of which 24 operating within the Niger Delta were found to have outstanding liabilities in the sums of ₦76,883,705,907.17 and $81,076,655.00, while the remaining 19 other oil companies were given a clean bill of health,” Usani said.
He explained that following the investigation and pressure from the commission, some of the affected companies paid their outstanding liabilities directly to the NDDC.
Those direct payments amounted to ₦6.709 billion and $16.994 million, he said.
Usani further disclosed that of the funds recovered by the EFCC on behalf of the NDDC, ₦73.373 billion and $67.070 million had so far been released to the commission.
The remaining ₦3.510 billion and $14.005 million are still being held in the EFCC’s recovery account, he added.
Usani, however, noted that the commission remained mindful of other potential outstanding statutory obligations and taxes owed to the Federal Government.
Meanwhile, the Senate Committee on Public Accounts rejected an attempt by TotalEnergies EP Nigeria Limited to respond to queries raised against the company in the audit report, citing inadequate representation.
The committee subsequently directed the company’s managing director to appear before it in person at a date to be fixed next week.
