In a major financial crackdown within the nation’s energy sector, the Economic and Financial Crimes Commission (EFCC) announced on Wednesday, August 12, 2026, that it has recovered over ₦115 billion and $84 million in unremitted statutory levies owed to the Niger Delta Development Commission (NDDC) by defaulting oil exploration and production companies.
The revelation was made at the National Assembly Complex in Abuja during an investigative hearing before the Senate Committee on Public Accounts, chaired by Senator Ibrahim Hassan Dankwambo. The hearing forms part of the Senate’s legislative probe into revenue leakages exposed in the 2021–2023 Oil and Gas Industry Audit Report published by the Nigeria Extractive Industries Transparency Initiative (NEITI).
Appearing on behalf of the anti-graft agency, EFCC representative Francis Oka-Phillips Usani informed lawmakers that the commission launched a comprehensive probe into 43 oil companies following audit queries on unremitted 3 percent statutory development levies.
”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 ₦76,883,705,907.17 and $81,076,655.00, while the remaining 19 other oil companies were given a clean bill of health,” Usani stated before the committee.
Key financial details disclosed during the session includes the Direct Payments to NDDC: Mounting investigative pressure compelled affected firms to pay ₦6.709 billion and $16.994 million directly into NDDC bank accounts.
The Disbursed EFCC Funds: The anti-graft body has already transferred ₦73.373 billion and $67.070 million of recovered funds to the NDDC and the Retained Balances: ₦3.510 billion and $14.005 million currently remain in the EFCC’s official recovery account pending final reconciliation.
Usani emphasized that while the commission prioritized the recovery of the unpaid 3 percent statutory levies due to the NDDC, investigators are maintaining active oversight on other unremitted taxes and government revenues across the petroleum sector.
Committee Chairman Senator Ibrahim Hassan Dankwambo commended the EFCC’s enforcement action, adding that the Senate Public Accounts Committee will continue summoning affected corporate entities and regulatory agencies to ensure full accountability and compliance with Nigerian law.
