EFCC probe forces 24 oil firms to pay N115bn, $84m NDDC levies

The Economic and Financial Crimes Commission (EFCC) has recovered over N115 billion and $84 million in outstanding statutory levies owed by oil companies to the Niger Delta Development Commission (NDDC), according to the agency's disclosure before the Senate Public Accounts Committee. The committee is investigating claims raised in the 2021-2023 Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Industry Audit Report.

The EFCC investigated 43 oil companies, with 24 operating in the oil-rich Niger Delta found to owe the NDDC's three percent statutory levy. The 24 companies initially owed N76.88 billion and $81.08 million, while 19 others were cleared after the investigation. The EFCC recovered N6.71 billion and $16.99 million directly from the affected companies and released N73.37 billion and $67.07 million to the NDDC, leaving a balance of N3.51 billion and $14.01 million in the commission's recovery account.