NEITI report: EFCC recovers N115bn for NDDC, clears 19 oil firms

Nigeria's Economic and Financial Crimes Commission (EFCC) has successfully recovered more than 115 billion naira (approximately $75 million USD) in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC). The recovered funds stem from payments due between 2021 and 2023 from 19 different oil companies.

The EFCC disclosed this significant recovery before the Senate, which is currently intensifying its probe into the 2021-2023 oil and gas audit. This legislative scrutiny highlights ongoing efforts to ensure transparency and accountability in the management of resources intended for the development of the Niger Delta region.

This development is part of a broader effort to address financial irregularities and ensure that funds allocated for regional development reach their intended beneficiaries. The recovery of these substantial levies is seen as a positive step towards improving the financial health of the NDDC and bolstering its capacity to execute development projects.