EFCC RECOVERS N115BN, $84M NDDC LEVIES FROM OIL FIRMS
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By:Tajudeen Aminat
The Economic and Financial Crimes Commission has recovered over N115bn and $84m in outstanding statutory levies owed to the Niger Delta Development Commission by oil companies.
The EFCC disclosed this on Wednesday before the Senate Public Accounts Committee during its investigation into issues raised in the 2021–2023 Nigeria Extractive Industries Transparency Initiative Oil and Gas Industry Audit Reports.
Representing the commission, Francis Usani said the EFCC investigated 43 oil companies following queries raised in the NEITI audit, with 24 companies found to have outstanding liabilities relating to the three per cent statutory levy payable to the NDDC.
According to him, the affected companies were initially found to owe N76.88bn and $81.08m, while the remaining 19 companies were cleared.
Usani said the EFCC’s intervention led some companies to settle their obligations directly with the NDDC, resulting in payments of N6.71bn and $16.99m.
He added that the EFCC had so far released N73.37bn and $67.07m to the NDDC, while N3.51bn and $14.01m remained in the commission’s recovery account.
The EFCC official explained that the investigation focused primarily on unpaid three per cent NDDC levies identified in the NEITI report, although other outstanding statutory obligations and taxes could also be investigated.
Meanwhile, the Senate committee has intensified its probe by summoning the managing directors of several oil companies to personally respond to queries contained in the NEITI reports.
The committee rejected a request by TotalEnergies EP Nigeria Limited to send a representative, directing its managing director to appear before the panel next week.
Similar directives were issued to the managing directors of South Atlantic Petroleum, Oando Oil, Famfa Oil and Green Energy International.
The Senate panel said it would continue its investigation to determine the full extent of outstanding liabilities and ensure that funds due to the NDDC and the Federal Government are properly recovered.
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