EFCC recovers $3m, N1.3bn unremitted revenues from two firms, hands over funds to RMAFC
EFCC said the funds were part of “liabilities established against the two companies for unremitted statutory payments to the federation.” The post EFCC recovers $3m, N1.3bn unremitted revenues from two firms, hands over funds to RMAFC appeared first on Premium Times Nigeria .
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.
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