The Economic and Financial Crimes Commission (EFCC) revealed on Wednesday that it has retrieved over N115 billion in mandatory dues owed to the Niger Delta Development Commission (NDDC) by defaulting petroleum firms between 2021 and 2023.

An EFCC representative, Francis Oka-Phillips Usani, made this disclosure during an appearance before the Senate Committee on Public Accounts in Abuja.

Usani noted that the retrieved sum comprised N76.883 billion alongside $81.076 million in unfulfilled financial obligations.

The legislative panel, led by Senator Ibrahim Hassan Dankwambo, is scrutinizing queries originating from the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021–2023 Oil and Gas Sector Audit Report.

Usani explained that the EFCC probed 43 petroleum firms, discovering that 24 operating within the Niger Delta region held unpaid three percent mandatory levies due to the NDDC.

He indicated that the remaining 19 firms were cleared after investigations showed no outstanding liabilities on their part.

“At the commencement of the 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,” Usani stated.

He added that following the inquiry and increased pressure on the defaulting entities, several firms remitted their outstanding debts directly to the NDDC.

According to him, those companies paid N6.709 billion and $16.994 million straight to the development body.

Usani further disclosed that N73.373 billion and $67.070 million recovered by the EFCC on behalf of the NDDC have been transferred to the interventionist agency, leaving N3.510 billion and $14.005 million in the anti-graft agency’s recovery account.

Clarifying the scope of the probe, Usani mentioned that the EFCC focused mainly on unremitted three percent statutory levies earmarked for the NDDC as highlighted in the NEITI audit document.

However, he noted that the commission remained conscious of potential unfulfilled statutory obligations and taxes owed by the affected entities to the Federal Government.

Meanwhile, the Senate committee declined to receive a defense from TotalEnergies EP Nigeria Limited regarding queries flagged in the NEITI audit report, pointing to inadequate representation.

Consequently, the committee ordered the Managing Director of TotalEnergies to appear in person on a date scheduled for next week.

It also extended a final summons to the chief executives of South Atlantic Petroleum Limited, Oando Oil Limited, Famfa Oil, and Green Energy International Limited to appear physically before the panel.

Dankwambo stated that the investigative proceedings would resume on Thursday.