The House of Representatives Public Accounts Committee has successfully recovered approximately ₦28.7 billion ($19,241,109.35) from two oil companies. This recovery is part of a larger initiative to reclaim outstanding revenues benefiting the Federation Account, as highlighted in the 2021 Audit Report.
The report identified 45 oil companies collectively responsible for $1.7 billion in liabilities. This recent action underscores ongoing governmental efforts to ensure compliance and accountability within the oil sector, which is critical for national economic stability and revenue assurance.
Source: Read more