…Senate intensifies probe of 2021–2023 oil and gas audit By Henry Umoru ABUJA — The Economic and Financial Crimes Commission (EFCC) has recovered more than N115 billion in outstanding statutory levies owed the Niger Delta Development Commission (NDDC) by some oil companies between 2021 and 2023. The commission disclosed this on Wednesday before the Senate Committee on Public Accounts, which is investigating findings contained in the 2021–2023 Oil and Gas Sector Audit Report of the Nigeria Extractive Industries Transparency Initiative (NEITI). The EFCC representative, Francis Oka-Phillips Usani, told the committee, chaired by Senator Ibrahim Dankwambo (PDP, Gombe North), that the recovered liabilities comprised N76.883 billion and $81.076 million. Usani said the commission investigated 43 oil companies, adding that 24 companies operating within the Niger Delta were found to have outstanding liabilities relating to the three per cent statutory levy payable to the NDDC. He said the remaining 19 companies were cleared after the investigation. “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, while the remaining 19 other oil companies were given clean bill of health,” he said. According to him, following the investigation and pressure mounted on the affected companies, some of them paid their outstanding liabilities directly to the NDDC. He said the payments amounted to N6.709 billion and $16.994 million. Usani further disclosed that of the funds recovered by the commission on behalf of the NDDC, N73.373 billion and $67.070 million had been released to the commission, while N3.510 billion and $14.005 million remained in the EFCC recovery account. On the scope of the investigation, Usani said the EFCC focused primarily on unpaid three per cent statutory levies due to the NDDC as identified in the NEITI report. He, however, said the commission was mindful that there could be other unpaid statutory obligations and taxes due to the Federal Government. Senate summons oil company chiefs Following the EFCC’s presentation, the committee rejected an attempt by TotalEnergies EP Nigeria Limited to respond to queries raised against the company in the audit report, citing inadequate representation. The committee consequently directed the Managing Director of TotalEnergies to appear in person at a date to be fixed next week. It also gave the managing directors of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil and Green Energy International Limited a final opportunity to appear physically before the committee. At the end of the session, Dankwambo said the investigative hearing would continue on Thursday. The post NEITI report: EFCC recovers N115bn for NDDC, clears 19 oil firms appeared first on Vanguard News.
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