The Economic and Financial Crimes Commission (EFCC) has confirmed the recovery of over N115 billion in statutory levies owed to the Niger Delta Development Commission (NDDC) from 19 oil companies. The recovery, spanning 2021 to 2023, was disclosed during a meeting with the Senate Committee on Public Accounts.
The EFCC representative, Mr Francis Oka-Phillips Usani, stated that the funds were recovered through audits and enforcement actions. The commission cleared the 19 companies of outstanding levies, marking a significant step in addressing financial irregularities in the oil sector.
The recovery aligns with ongoing audits by the Nigerian Extractive Industries Transparency Initiative (NEITI). Multiple media outlets reported the same figures, reinforcing the credibility of the EFCC’s claims. The action highlights efforts to ensure compliance and transparency in the energy sector.
The EFCC’s success in recovering the funds underscores its role in tackling financial crimes and ensuring that companies fulfill their statutory obligations. The move is expected to bolster the NDDC’s financial capacity to support development in the Niger Delta region.
