EFCC recovers N115bn NDDC levies

The Nigeria — Economic and Financial Crimes Commission (EFCC) has recovered over N115 billion in outstanding statutory levies owed to the Nigeria — Niger Delta Development Commission (NDDC) by oil companies, following an investigation triggered by the Extractive Industries Transparency Initiative (NEITI) 2021-2023 Oil and Gas Sector Audit Report. The recovery comprises N76.883 billion and $81.076 million in unpaid 3% statutory levies. The EFCC investigated 43 oil companies, found 24 with outstanding liabilities, and cleared 19. Some companies paid directly to the NDDC, while the EFCC released N73.373 billion and $67.070 million to the NDDC, with a balance remaining in its recovery account. The Senate Committee on Public Accounts is intensifying its probe, summoning managing directors of TotalEnergies, South Atlantic Petroleum, Oando, Famfa Oil, and Green Energy International to appear personally.