The Public Accounts Committee, PAC, of the House of Representatives has recovered an additional ₦11.49 billion from oil and gas firms owing the Federal Government, raising total recoveries to ₦61.5 billion.
According to a statement by the House Spokesperson, Akin Rotimi jnr., The funds, retrieved following audits and data from the Nigerian Upstream Petroleum Regulatory Commission, came from six firms including Aradel Holdings, Seplat Energies, and Midwestern Oil and Gas.
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Despite repeated summons, several companies, among them Heirs Holdings, AITEO, and Neconde Energy, have yet to appear before the Committee. Collectively, these firms owe more than $384 million and ₦325.7 million.
PAC Chairman Bamidele Salam criticised the non-compliant companies, stating Parliament will not tolerate corporate evasion of financial responsibility. He warned that firms showing contempt for oversight risk losing their operational licences.
The Committee reaffirmed its authority under the Constitution to enforce accountability for public funds and ensure compliance with national laws.
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