EFCC Recovers N115bn NDDC Levies, Senate Moves Against Oil Giantshe Economic and Financial Crimes Commission on Wednesday dropped a financial bombshell before the Senate, revealing that oil companies were indebted to the Niger Delta Development Commission to the tune of N76.88 billion and $81.08 million in unpaid statutory levies.
The disclosure came as the Senate Committee on Public Accounts intensified its probe into alleged financial infractions contained in the 2021–2023 Nigeria Extractive Industries Transparency Initiative Oil and Gas Sector Audit Report.
Appearing before the committee, the EFCC representative, Francis Oka-Phillips Usani, said the commission had investigated 43 oil companies, with 24 found to have outstanding liabilities to the NDDC.
The remaining 19 companies were cleared, according to the EFCC.
Usani said the investigation was triggered by findings in the NEITI audit report and focused primarily on the mandatory three per cent statutory levy payable to the NDDC by relevant companies operating in the Niger Delta.
He said, “At the commencement of investigation, EFCC invited 43 oil companies, out of which 24 operating within the Niger Delta were found to have outstanding liabilities in the sums of N76,883,705,907.17 and $81,076,655.00, while the remaining 19 other oil companies were given a clean bill of health.”
According to him, the EFCC’s intervention forced some of the indebted companies to settle their obligations directly with the NDDC.
Those direct payments, he disclosed, amounted to N6.709 billion and $16.994 million.
But the recovery trail did not end there.
Usani told the committee that the EFCC had so far released N73.373 billion and $67.070 million to the NDDC from the funds recovered on its behalf.
He added that N3.510 billion and $14.005 million remained in the EFCC recovery account.
The figures immediately raised the stakes in the Senate investigation, which is probing the extent to which oil companies have complied with statutory financial obligations to the NDDC and the Federal Government.
Usani explained that although the EFCC’s immediate mandate was to pursue the unpaid three per cent NDDC levy identified by NEITI, the commission was also mindful that other statutory obligations and taxes might be outstanding.
He said the EFCC did not rule out the existence of other liabilities owed to the Federal Government.
The committee, meanwhile, showed no appetite for what it considered inadequate representation by oil companies appearing before it.
It rejected an attempt by TotalEnergies EP Nigeria Limited to defend queries raised against the company in the NEITI audit report, citing the absence of the company’s Managing Director.
The committee ordered the TotalEnergies Managing Director to appear in person when the matter resumes next week.
The Senate also issued a final opportunity to the Managing Directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil Limited and Green Energy International Limited to personally appear before the committee.
The companies are expected to respond to queries arising from the audit report or face the consequences of the committee’s proceedings.
The hardening posture of the committee signals that the Senate is no longer prepared to accept explanations from junior representatives where the issues involve billions of naira and millions of dollars in alleged statutory liabilities.
At the close of Wednesday’s proceedings, the committee chairman, Senator Ibrahim Hassan Dankwambo, said the probe would continue on Thursday.
The Senate’s investigation is therefore entering a more critical phase, with the committee set to confront more oil companies over their financial obligations and the implementation of recommendations arising from the NEITI audit.