The Economic and Financial Crimes Commission has handed over ₦3,936,145,822 in recovered funds to the Nigerian National Petroleum Company Limited, marking a major step in efforts to clean up Nigeria’s oil sector and recover diverted public assets.
The handover ceremony took place on Wednesday at the EFCC headquarters in Abuja, underscoring intensified collaboration between anti-corruption authorities and key players in the energy sector.
Presenting the funds, EFCC Secretary Mohammed Hammajoda, who represented the Commission’s Chairman, Ola Olukoyede, disclosed that the nearly ₦4 billion was recovered through detailed investigations into fraudulent activities linked to certain actors within NNPC Ltd.
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Hammajoda said the recovery reflects the Commission’s sustained commitment to tackling economic crimes and safeguarding public resources.
He noted that EFCC operatives continue to carry out high-risk investigations with professionalism and integrity in a bid to protect the interests of millions of Nigerians.
Receiving the funds on behalf of NNPC Ltd, Executive Vice President, Downstream, Mumuni Dagazau, commended the EFCC for its efforts and reaffirmed the company’s commitment to transparency and accountability.
Dagazau acknowledged the challenges the national oil company has faced over the years but stressed that its management is focused on reforms aimed at strengthening governance and operational efficiency.
He described the collaboration with the EFCC as a strong signal of NNPC Ltd’s resolve to address past lapses and ensure better financial discipline going forward.
The recovered funds are expected to improve the company’s liquidity position while reinforcing the Federal Government’s zero-tolerance stance on corruption in the oil and gas industry.
