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 to the Niger Delta Development Commission (NDDC) by 24 oil companies, according to the agency's representative, Francis Usani. This revelation was made before the Senate Public Accounts Committee during its investigation into issues raised in the 2021-2023 Nigeria Extractive Industries Transparency Initiative Oil and Gas Industry Audit Report.

The EFCC investigated 43 oil companies, with 24 operating in the Niger Delta found to have outstanding liabilities arising from the three percent statutory levy payable to the NDDC. Out of the 24 companies, 19 were cleared after the investigation, while the remaining 24 companies were initially found to owe N76.88 billion and $81.08 million.

After the investigation, the 24 companies paid N6.71 billion and $16.99 million directly to the EFCC. In total, the EFCC has 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.