The Economic and Financial Crimes Commission (EFCC) has confirmed the recovery of over N115 billion in statutory levies from oil companies. The funds were recovered between 2021 and 2023 and were owed to the Niger Delta Development Commission (NDDC). The EFCC disclosed this during a Senate session, highlighting its ongoing efforts to combat financial crimes and ensure compliance with legal obligations.
The recovered amount is part of a broader initiative by the EFCC to hold corporations accountable for unpaid levies. The commission has cleared 19 oil firms of outstanding debts, marking a significant step in its mission to enforce financial regulations. This development comes amid increased scrutiny of corporate practices in the energy sector.
In separate actions, the EFCC has also handed over properties recovered from fraudulent activities to victims in Ibadan. Executive Chairman Ola Olukoyede has urged Nigerian youths to use technology for lawful business ventures rather than engaging in internet scams. These efforts reflect the commission’s dual focus on both corporate accountability and public financial protection.
The EFCC continues to address financial crimes through legal interventions and public awareness campaigns, aiming to restore trust in economic systems and protect citizens from exploitation.
