The House of Representatives has recovered an additional ₦21.4 billion from four oil and gas companies as part of an ongoing investigation into financial irregularities in the sector.
House Spokesman Akin Rotimi said on Sunday that the Public Accounts Committee had also given four companies 20 days to remit a further ₦34.8 billion, warning that those who fail to comply would be publicly named in national newspapers and face other sanctions.
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This latest recovery follows an earlier announcement on 16 March 2025, when the committee reported retrieving ₦28.7 billion, bringing the total recovered so far to ₦50.1 billion.
Lawmakers say their inquiry, centred on a 2021 Auditor General’s report, has uncovered more than ₦10 trillion in outstanding payments owed by industry operators to the Federation Account.
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