The Economic and Financial Crimes Commission (EFCC) has recovered more than N115 billion and $84 million in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC) by oil companies.
The recovery was disclosed on Wednesday as the Senate Committee on Public Accounts intensified its investigation into alleged non-remittance and under-remittance of statutory obligations by companies in Nigeria’s extractive sector.
The probe is based on findings contained in the 2021–2023 Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Sector Audit Report.
Appearing before the committee, chaired by Senator Ibrahim Hassan Dankwambo, EFCC representative Francis Oka-Phillips Usani said the commission investigated 43 oil companies identified in the NEITI report.
According to Usani, 24 companies operating in the Niger Delta were found to have outstanding liabilities relating to the three per cent statutory levy payable to the NDDC.
He said the affected companies were indebted to the commission to the tune of N76.883 billion and $81.077 million, while the remaining 19 companies were cleared after investigation.
“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 other oil companies were given clean bill of health,” Usani told the committee.
He explained that following the EFCC investigation and pressure on the affected companies, some of them made direct payments to the NDDC.
So far, the companies have paid N6.709 billion and $16.994 million directly to the development commission, he disclosed.
Usani further revealed that the EFCC had released N73.373 billion and $67.070 million from its recoveries to the NDDC, while N3.510 billion and $14.005 million remained in the commission’s recovery account.
The EFCC official said the investigation focused primarily on the unpaid three per cent statutory levy due to the NDDC, as highlighted by the NEITI audit.
He, however, noted that the commission was also mindful of other statutory obligations and taxes that could be owed to the Federal Government by the companies.
Meanwhile, the Senate committee rejected an attempt by TotalEnergies EP Nigeria Limited to respond to queries raised against it in the NEITI report, citing inadequate representation at the hearing.
The committee directed the company’s Managing Director to appear personally before the panel at a date to be fixed next week.
Similarly, the panel gave a final opportunity to the managing directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil Limited and Green Energy International Limited to appear personally and respond to queries arising from the audit report.
The committee said its decision was aimed at ensuring that chief executives of companies implicated in the NEITI findings personally account for their financial obligations.
The Senate investigation is expected to establish the level of compliance by oil companies with their financial obligations to the NDDC and other government agencies, while identifying possible revenue leakages in the extractive sector.
At the end of Wednesday’s proceedings, Dankwambo said the investigative hearing would continue on Thursday as the committee seeks further explanations from affected companies and relevant government agencies.