EFCC recovers $3m, N1.3bn from two oil firms over unremitted revenues
The Economic and Financial Crimes Commission, EFCC, has recovered $3 million and N1.303 billion from two oil companies over alleged failure to remit statutory revenues due to the Federation. The recovered funds, obtained from Aiteo Exploration and Production Limited and Newcross Exploration and Production Limited, were formally transferred to the Revenue Mobilisation Allocation and Fiscal […]…
The Economic and Financial Crimes Commission (EFCC) has recovered a total of $3 million and N1.303 billion from two oil companies, Aiteo Exploration and Production Limited and Newcross Exploration and Production Limited, over unremitted statutory payments to the Federation. The recovery was facilitated by the EFCC’s Lagos Zonal Directorate 2, which presented the funds to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on November 10, 2026.
The recovery came after an investigation initiated by the EFCC following a petition alleging tax evasion and economic sabotage by the companies over the non-remittance of revenues from various oil facilities.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
