The Economic and Financial Crimes Commission (EFCC) is trending after revealing that it recovered over N115 billion and $84 million in unremitted statutory levies owed to the Niger Delta Development Commission (NDDC) by default oil companies.
Appearing before the Senate Committee on Public Accounts chaired by Senator Ibrahim Dankwambo, EFCC representative Francis Usani disclosed the recovery details, which stemmed from investigations into queries raised by the 2021–2023 Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Sector Audit.
The commission audited 43 oil firms and identified 24 operating in the Niger Delta with unpaid liabilities under the mandatory 3% statutory NDDC levy. Of the total recovered funds, the EFCC has transferred over N73 billion and $67 million directly to the NDDC to support regional infrastructure and social development projects.
Sources: The Cable, Punch Newspapers, THISDAY, Leadership Newspaper, 21st Century Chronicle
#EFCC #NDDC #OilSector #NigeriaSenate #NEITI #PublicFinance
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