The Economic and Financial Crimes Commission, EFCC, on Wednesday revealed that it has recovered over N115 billion in statutory levies owed to the Niger Delta Development Commission, NDDC, by defaulting oil companies between 2021 and 2023.

The amount, presented to the Senate Committee on Public Accounts, is made up of N76.883 billion and $81.076 million.

EFCC representative, Mr. Francis Oka-Phillips Usani, disclosed this during the committee’s probe of the Nigeria Extractive Industries Transparency Initiative, NEITI, 2021–2023 Oil and Gas Sector Audit findings.

Usani said 43 oil companies were investigated, out of which 24 operating within the Niger Delta were found to have outstanding liabilities.

“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 oil companies were given a clean bill of health,” he said.

He added that under pressure from the EFCC, some of the 24 companies paid directly to NDDC, totalling N6.709 billion and $16.994 million.

According to him, out of the total recovered, N73.373 billion and $67.070 million have been released to NDDC. The balance of N3.510 billion and $14.005 million remains in the EFCC recovery account.

Usani explained that the investigation focused on the 3% statutory levy due to NDDC as identified in the NEITI report, but noted that other unpaid statutory obligations and taxes to the Federal Government were not ignored.

After the EFCC presentation, the Senator Ibrahim Hassan Dankwambo-led committee rejected an attempt by TotalEnergies EP Nigeria Limited to defend queries raised against it due to under-representation.

The committee resolved that the Managing Director of TotalEnergies must appear in person next week. It also gave the Managing Directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil and Green Energy International Limited a “last chance” to appear physically.

Senator Dankwambo said the investigative session will continue on Thursday.