The Economic and Financial Crimes Commission (EFCC) has recovered more than N115 billion and $84 million in outstanding statutory levies owed the Niger Delta Development Commission (NDDC) by oil companies, the anti-graft agency has told the Senate.
The disclosure was made on Wednesday before the Senate Public Accounts Committee, chaired by Senator Ibrahim Dankwambo, during the ongoing investigation into queries contained in the 2021–2023 Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Industry Audit Reports.
Representing the EFCC, Francis Usani said the commission investigated 43 oil companies following queries raised in the NEITI reports.
He said 24 companies operating in the Niger Delta were found to have outstanding liabilities relating to the statutory three per cent levy payable to the NDDC, while 19 companies were cleared.
According to Usani, the 24 companies initially owed N76.88 billion and $81.08 million.
He said the EFCC’s intervention led some of the affected companies to make direct payments to the NDDC, with N6.71 billion and $16.99 million subsequently paid.
The EFCC representative further disclosed that the commission had released N73.37 billion and $67.07 million from its recoveries to the NDDC.
He said N3.51 billion and $14.01 million remained in the EFCC’s recovery account.
Usani explained that the commission’s investigation focused primarily on unpaid three per cent statutory levies identified in the NEITI audit, while noting that other statutory obligations and taxes could also be outstanding.
The recovery is significant to the NDDC, which relies on statutory funding to implement development projects across the Niger Delta region.
The Senate committee is examining whether failures by oil companies to remit statutory payments contributed to revenue leakages and funding shortfalls affecting government institutions.
Senate summons oil company CEOs
Meanwhile, the Senate committee has intensified its investigation by insisting that chief executives of major oil companies personally appear before it to respond to queries contained in the NEITI audit reports.
The committee rejected a request by TotalEnergies EP Nigeria Limited to send a representative in place of its management and directed its managing director to appear before the panel next week.
READ ALSO:Osun 2026: ADC alleges plot to arrest Aregbesola ahead of governorship poll
The committee also issued what it described as a final opportunity to the managing directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil Limited and Green Energy International Limited to personally appear before it.
The summons followed concerns over the adequacy of representations made by some companies invited to answer financial queries raised in the NEITI reports.
The Senate panel said it would continue its investigation until it obtains satisfactory explanations on outstanding liabilities and determines whether additional funds are owed to the NDDC or the Federal Government.
The probe is expected to continue on Thursday, with more oil companies and government agencies potentially invited to clarify issues arising from the 2021, 2022 and 2023 NEITI audits.
