By Ekuson Nw’Ogbunka in Abuja
The Economic and Financial Crimes Commission has recovered over N115 billion in unpaid statutory contributions owed to the Niger Delta Development Commission by oil companies that defaulted between 2021 and 2023.
Mr. Francis Oka-Phillips Usani presented the breakdown to the Senate Committee on Public Accounts on Wednesday. The presentation was part of the panel’s probe into findings of the NEITI 2021 to 2023 Oil and Gas Sector Audit.
Usani said the recovered sum comprises N76.883 billion and $81.076 million. The money represents the 3 percent statutory levy that oil firms are required to remit to the NDDC under the NDDC Act.
The EFCC began by inviting 43 oil companies for scrutiny. After review, 24 companies operating within the Niger Delta region were indicted for outstanding payments, while 19 others were cleared.
The commission noted that not all payments came through its direct recovery process. Some companies, faced with EFCC pressure, opted to remit their arrears straight to the NDDC. Those payments totaled N6.709 billion and $16.994 million.
From the amounts recovered centrally, the EFCC has transferred N73.373 billion and $67.070 million to the NDDC. Usani said the outstanding balance of N3.510 billion and $14.005 million remains in the EFCC’s recovery account pending further disbursement.
He told the committee led by Senator Ibrahim Hassan Dankwambo that the investigation deliberately targeted one key issue raised by NEITI, the non-remittance of the 3 percent NDDC levy. He added that the commission remained alert to other possible breaches involving federal taxes and statutory obligations.
The session took a tense turn when representatives of Total Energies EP Nigeria Limited tried to address queries raised in the audit. The committee declined to hear them, citing under-representation.
In a resolution, the panel ordered the Managing Director of Total Energies to appear personally next week. Similar directives were issued as a final warning to the heads of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil and Green Energy International Limited.
Senator Dankwambo concluded the sitting by announcing that the investigative hearing would resume on Thursday, as the committee continues its review of the oil and gas sector audit.
