Headlines
NEITI Audit: EFCC confirms N115bn statutory levies recovery from oil companies
The Economic and Financial Crimes Commission, EFCC, on Wednesday revealed that it has recovered over N115 billion in statutory levies owed to the Niger Delta Development Commission, NDDC, by defaulting oil companies between 2021 and 2023.
The amount, presented to the Senate Committee on Public Accounts, is made up of N76.883 billion and $81.076 million.
EFCC representative, Mr. Francis Oka-Phillips Usani, disclosed this during the committee’s probe of the Nigeria Extractive Industries Transparency Initiative, NEITI, 2021–2023 Oil and Gas Sector Audit findings.
Usani said 43 oil companies were investigated, out of which 24 operating within the Niger Delta were found to have outstanding liabilities.
“At the commencement of 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 oil companies were given a clean bill of health,” he said.
He added that under pressure from the EFCC, some of the 24 companies paid directly to NDDC, totalling N6.709 billion and $16.994 million.
According to him, out of the total recovered, N73.373 billion and $67.070 million have been released to NDDC. The balance of N3.510 billion and $14.005 million remains in the EFCC recovery account.
Usani explained that the investigation focused on the 3% statutory levy due to NDDC as identified in the NEITI report, but noted that other unpaid statutory obligations and taxes to the Federal Government were not ignored.
After the EFCC presentation, the Senator Ibrahim Hassan Dankwambo-led committee rejected an attempt by TotalEnergies EP Nigeria Limited to defend queries raised against it due to under-representation.
The committee resolved that the Managing Director of TotalEnergies must appear in person next week. It also gave the Managing Directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil and Green Energy International Limited a “last chance” to appear physically.
Senator Dankwambo said the investigative session will continue on Thursday.
“Every Item Has Been Recovered” — Viral CCTV Helps Trace Lagos Photographer’s Stolen Equipment As Wedding Files Remain At Risk
‘He’s closest to Lionel Messi’ – Rashford names player to win more Ballons d’Or than Cristiano Ronaldo
That’s How A Statesman Should Behave – Keyamo Praises Atiku For Not Disobeying Court Order Sacking Him As ADC Presidential Candidate
US travel ban on Supreme Court Justices based on misinterpreted judgment – Retiring Justice Aji clarifies
Explain What Your Administration Has Done With ₦15.8 Trillion Saved From Fuel Subsidy Removal – Peter Obi Dares Tinubu
Oyedepo, Adeboye own private jets, universities because Obasanjo allocated oil wells to them – Madugba
“We Will Resist Every Attempt To Turn Nigeria Into A One-Party State” — Atiku Rejects ADC Judgment, Vows To Stay In Presidential Race
“No More Annual Leave As 2027 Elections Approach” — INEC Orders Staff To Remain On Duty, Announces New Salary Structure, Allowances
“Personal Attacks On Judges Are Not A Substitute For Legal Argument” — C4G Tells Okonkwo, Odinkalu Over ADC Judgment
“My First Mistake Was Listening To Buhari” — Amaechi Blames 2022 APC Primary Defeat On Former President’s Unfulfilled Promise
Our X account now restored, we have resumed updates – Nigerian Army
LG allocation: Osun NLC orders three-day sympathy strike
Ugandan woman in Nigeria for crusade arrested with 87 cocaine wraps in private parts
Delta APC decries political violence
Ugandan woman hiding 87 cocaine wraps in private part arrested
Agreement Is Agreement – Akpabio Hails Wike, Fubara As Rivers Political War Ends
N50,000 NERSI: Check if your area is covered by FG relief payment
Troops rescue 119 civilians, recover eight vehicles in Borno
2026 U-17 WWC: Infantino salutes Flamingos after maiden title triumph
Primate Ayodele releases fresh prophecies on UN, EU, IMF, UNICEF, others
Viral7 days agoFLUTTERWAVE’S CYPRUS EXIT: BANK OF CYPRUS OBJECTION TRIGGERS TOTAL WRITE-OFF OF 100% SUBSIDIARY, AUDITED ACCOUNTS REVEAL
- Metro5 days ago
“Nigeria Cannot Afford To Fail In 2027” — UNOWAS Urges Peaceful Elections As NHRC Warns Against Electoral Offences
- Metro7 days ago
“Effective Dispute Resolution Begins Before Disputes Arise” — CIArb Nigeria Corporate Counsel Group Holds Abuja, Lagos Dialogues
- Metro7 days ago
“INEC’s Internal Review Is Not Enough” — SERAP Asks Tinubu To Order Independent Probe Of AI-Generated Photos In Voter Register
- Politics7 days ago
Imo People Gathered At A Street Named After Ganduje, Insisting That It Must Be Renamed – Uzodinma’s Aide
- Special Report5 days ago
Cocaine: KC Luxury asks judge to withdraw from his trial over missing affidavit – The Witness Nigeria
- Headlines7 days ago
Trump made right decision to designate Nigeria Country of Particular Concern – US congressman Riley Moore
- Metro6 days ago
“APC’s 2027 Strength Goes Beyond Electoral Victories” — Yilwatda Cites 13m Members, 31 Governors, 88 Senators
