Senate probes Aiteo NDDC remittance default

The Nigerian Senate, through its Committee on the Nigeria — Niger Delta Development Commission (NDDC), has launched an investigation into allegations that Aiteo Exploration and Production Company Limited (now Nembe Exploration and Production Company Limited) failed to remit statutory contributions of $71.65 million and N30.7 billion to the NDDC from 2021 to date. The probe follows a petition by environmental activist Matthew Echo. The NDDC Act requires oil-producing companies to contribute 3% of annual operating budgets to the commission. Aiteo did not appear at the hearing. The committee directed Aiteo to appear within two weeks and requested a list of all defaulting companies. NDDC Managing Director Samuel Ogbuku acknowledged recovery challenges. Senators Adams Oshiomhole and Ede Dafinone called for stricter enforcement and sanctions.