The Economic and Financial Crimes Commission (EFCC) has recovered more than N115 billion and $81 million in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC) by oil companies between 2021 and 2023.
The disclosure was made on Wednesday when an EFCC representative, Francis Oka-Phillips Usani, appeared before the Senate Committee on Public Accounts, which is examining issues raised in the 2021–2023 Oil and Gas Sector Audit Report of the Nigeria Extractive Industries Transparency Initiative (NEITI).
Usani told the committee that the commission investigated 43 oil companies over alleged outstanding obligations relating to the three per cent statutory levy payable to the NDDC.
According to him, investigations established that 24 of the companies operating within the Niger Delta had outstanding liabilities amounting to N76.883 billion and $81.076 million, while the remaining 19 companies were cleared after no outstanding liability was established against them.
He said the liabilities identified were based on findings contained in the NEITI audit report and that the EFCC subsequently engaged the affected companies to recover the outstanding obligations.
Some of the companies, he disclosed, paid their liabilities directly to the NDDC following the commission’s intervention, with such payments amounting to N6.709 billion and $16.994 million.
Usani further told the lawmakers that N73.373 billion and $67.070 million recovered by the EFCC on behalf of the NDDC had so far been released to the commission.
He added that N3.510 billion and $14.005 million remained in the EFCC’s recovery account.
The EFCC representative said the commission’s primary focus was the recovery of the three per cent statutory levy due to the NDDC, as highlighted by the NEITI audit, but noted that the investigation also remained mindful of other possible statutory obligations and taxes owed to the Federal Government.
The development came as the Senate intensified its scrutiny of financial obligations arising from the NEITI audit report, with several major oil companies facing queries over their statutory payments.
At Wednesday’s hearing, the Senate Public Accounts Committee declined to hear a response from TotalEnergies EP Nigeria Limited to queries raised against the company, citing what it considered inadequate representation.
The committee consequently directed the Managing Director of TotalEnergies EP Nigeria Limited to appear personally before the panel next week to respond to the issues raised.
The Senate committee has also summoned the managing directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil Limited and Green Energy International Limited to appear physically before it and address queries contained in the audit report.
The committee’s action forms part of an ongoing legislative investigation into the findings of the NEITI audit, particularly alleged failures by companies in the extractive sector to remit statutory obligations due to government agencies.
The investigation is expected to continue as the Senate seeks further clarification from affected companies and government agencies on the financial obligations identified in the audit report.
The EFCC’s latest disclosure also highlights the financial implications of the NEITI findings, with the recovery of billions of naira and millions of dollars in NDDC levies now forming part of the Senate’s broader scrutiny of revenue compliance in Nigeria’s oil and gas sector.
Source: Channels Television
You must be logged in to post a comment.