By Ayodele Quadri, Lagos Times Correspondent
ABUJA, NIGERIA — The Economic and Financial Crimes Commission (EFCC) has disclosed that an ongoing investigation into defaulting oil and gas firms has recovered more than ₦115 billion and $84 million in outstanding 3% statutory levies owed to the Niger Delta Development Commission (NDDC).
Disclosing the development on Wednesday, August 12, 2026, before the Senate Public Accounts Committee chaired by Senator Ibrahim Hassan Dankwambo, EFCC representative Francis Oka-Phillips Usani explained that the anti-graft agency launched the probe following queries raised in the 2021–2023 Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Sector Audit Report.
Key Operational Highlights
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Audit Inquiry Scope: The EFCC summoned and audited 43 oil companies operating in Nigeria following findings in the NEITI audit report.
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Liabilities Identified: Following initial verification, 24 oil companies operating within the Niger Delta were confirmed to have defaulted on statutory 3% remittances to the NDDC, totaling ₦76.88 billion and $81.08 million in liabilities.
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Companies Cleared: 19 oil firms were cleared of any outstanding statutory liabilities after verification and granted a “clean bill of health” by investigators.
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Direct & Recovered Payments:
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Direct Payments to NDDC: Mounting pressure from the EFCC led defaulting firms to pay ₦6.71 billion and $16.99 million directly into NDDC accounts.
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Transferred Funds: The EFCC recovered and transferred ₦73.37 billion and $67.07 million directly to the NDDC.
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Recovery Account Balance: A remaining balance of ₦3.51 billion and $14.01 million sits in the EFCC’s recovery account awaiting final administrative release.
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┌────────────────────────────────────────────────────────────────────────┐
│ EFCC / NDDC STATUTORY LEVY RECOVERY MATRIX │
├────────────────────────────────────────────────────────────────────────┤
│ • Investigating Agency : Economic and Financial Crimes Commission │
│ • Forum : Senate Committee on Public Accounts │
│ • Audit Reference : NEITI Oil & Gas Industry Audit (2021–2023) │
│ │
│ • Firms Investigated : 43 Oil & Gas Operators │
│ • Defaulting Firms : 24 Companies (Indicted & Forced to Settle) │
│ • Cleared Firms : 19 Companies (Clean Bill of Health) │
│ │
│ • Direct NDDC Remits : ₦6.71 Billion | $16.99 Million │
│ • Released by EFCC : ₦73.37 Billion | $67.07 Million │
│ • In Recovery Account : ₦3.51 Billion | $14.01 Million │
└────────────────────────────────────────────────────────────────────────┘
“24 Companies Operating in Niger Delta Were Found Liable”
“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.” — Francis Oka-Phillips Usani, EFCC Representative
“Out of the sums so far recovered by the commission on behalf of NDDC, total sums of N73.37bn and $67.07m have been released to NDDC, leaving the balance of N3.51bn and $14.01m in EFCC’s recovery account.” — Francis Oka-Phillips Usani
