The House of Representatives Public Accounts Committee has recovered $19.2 million, which is ₦28.7 billion, from two oil firms as part of efforts to retrieve outstanding $1.7 billion revenue owed to the Federation Account.
The recovery follows an ongoing investigation into 45 oil companies identified in the 2021 Audit Report as owing a combined $1.7 billion.
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A statement from the House spokesperson, Akin Rotimi, confirmed that Chorus Energy Limited settled its liability with a payment of $847,000, or ₦1.2 billion, on 11 March. Seplat Production Development Limited remitted $18.39 million, equivalent to ₦27.6 billion, between 10 and 14 March, fully clearing its obligations.
The committee also disclosed that Shoreline Natural Resources Ltd had earlier paid $30 million towards its $100.28 million debt and is seeking a structured repayment plan for the balance. The investigation is expected to continue as authorities pursue full recovery of outstanding funds.
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