EFCC Recovers Over N115bn In NDDC Levies, Clears 19 Oil Companies

The Economic and Financial Crimes Commission (EFCC) on Wednesday disclosed that it recovered more than N115 billion in statutory levies owed to the Niger Delta Development Commission (NDDC) by defaulting oil companies between 2021 and 2023.

The disclosure was made by the EFCC’s representative, Mr Francis Oka-Phillips Usani, before the Senate Committee on Public Accounts, investigating findings contained in the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021–2023 Oil and Gas Sector Audit Report.

Usani told the committee, chaired by Senator Ibrahim Hassan Dankwabo, that the outstanding liabilities identified during the investigation comprised N76.883 billion and $81.076 million.

According to him, the EFCC investigated 43 oil companies following the NEITI findings, with 24 companies operating in the Niger Delta found to have outstanding liabilities relating to the three per cent statutory levy payable to the NDDC.

“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 N76,883,705,907.17 and $81,076,655.00, while the remaining 19 other oil companies were given a clean bill of health,” he 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.

According to him, the payments amounted to N6.709 billion and $16.994 million.

Usani further informed the committee that, of the funds recovered by the EFCC on behalf of the NDDC, N73.373 billion and $67.070 million had so far been released to the commission.

He said a balance of N3.510 billion and $14.005 million remained in the EFCC’s recovery account.

Explaining the scope of the investigation, Usani said the EFCC focused primarily on the unpaid three per cent statutory levies due to the NDDC, as identified in the NEITI report.

He, however, said the commission was also mindful of the possibility of other unpaid statutory obligations and taxes owed to the Federal Government.

Meanwhile, the Senate committee rejected an attempt by TotalEnergies EP Nigeria Limited to respond to queries raised in the audit report, citing under-representation.

The committee consequently directed the Managing Director of TotalEnergies EP Nigeria Limited to appear before it personally at a date to be fixed next week.

The committee also gave the managing directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil and Green Energy International Limited a final opportunity to appear personally before the lawmakers.

At the end of the session, Senator Dankwabo said the investigative hearing would continue on Thursday.