EFCC RECOVERS ₦115BN, $84M NDDC LEVY FROM OIL FIRMS

The Economic and Financial Crimes Commission has recovered ₦115 billion and $84 million in outstanding Niger Delta Development Commission levies from oil companies operating in Nigeria.

The recovery followed investigations into unpaid statutory contributions owed to the NDDC by companies operating within the oil and gas sector.

The commission said the recovered funds represent obligations that had remained outstanding and were eventually remitted following its intervention.

The NDDC levy is intended to support development projects and programmes in the Niger Delta region, including infrastructure, healthcare, education, and other community-focused initiatives.

The EFCC said the recovery forms part of its broader efforts to ensure that public funds and statutory revenues are properly accounted for and remitted to the appropriate government agencies.

Officials noted that recovering outstanding levies would strengthen the financial capacity of the NDDC to carry out its development mandate.

Stakeholders in the Niger Delta welcomed the recovery, saying improved funding could support the completion of projects and address some of the region’s infrastructure and development needs.

They also called for greater transparency in the management and deployment of recovered funds to ensure that they deliver tangible benefits to communities.

The EFCC reaffirmed its commitment to investigating financial obligations owed to government institutions and recovering funds where appropriate.

The commission said it would continue to work with relevant agencies to improve accountability and ensure compliance with statutory financial obligations.