EFCC recovers N115m, $84m from companies indebted to NDDC
Abuja, Aug. 2026 – The Economic and Financial Crimes Commission on Thursday said it had recovered more than N115 billion and $84 million from some companies owing the Niger Delta Development Commission
Francis Usani, an official of the EFCC, disclosed this before the Senate Committee on Public Accounts at the committee’s ongoing investigation into the 2021–2023 Nigeria Extractive Industries Transparency Initiative Oil and Gas Industry Audit Report.
Francis Usani told the committee, chaired by Senator Ibrahim Dankwambo, that 24 companies were found by the EFCC to have outstanding liabilities out of the 43 oil companies indicted by the NEITI audit.
He said the 24 companies were found to have outstanding liabilities of N76, 883,705,907.17 and $81,076,655.00, while the other 19 other companies were given a clean bill of health.
Usani said the 24 companies were initially found to owe N76.88 billion and $81.08 million.
“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,” he said.
He said these companies had paid N6.71 billion and $16.99 million directly to the commission after the EFCC’s intervention.
Usani said the EFCC had since released N73.37 billion and $67.07 million of the recovered funds to the NDDC, while N3.51 billion and $14.01 billion remained in the commission’s recovery account.
“Out of the sums so far recovered by the commission on behalf of NDDC, total sums of N73.37bn and $67.07m have been released to NDDC, leaving the balance of N3.51bn and $14.01m in EFCC’s recovery account,” he said.
