The House of Representatives Public Accounts Committee has recovered 28.7 billion naira from two oil companies as part of efforts to retrieve outstanding revenue owed to the Federation Account.
The Committee’s investigation, based on findings from the 2021 Audit Report, targets 45 oil companies collectively owing 1.7 billion dollars in liabilities.
According to a statement, the House spokesman, Akin Rotimi, Chorus Energy Limited settled its outstanding liability with a payment of 1.2 billion naira on March 11, 2025.
According to the statement, Seplat Production Development Limited fully discharged its obligation by remitting ₦27.6 billion naira between March 10 and March 14, 2025.
The statement noted that the Nigerian Upstream Petroleum Regulatory Commission has been furnished with evidence of these payments for final verification.