EFCC recovers $3m, N1.3bn from two oil firms

The Economic and Financial Crimes Commission (EFCC) recovered $3 million and N1.303 billion from Aiteo Exploration and Production Limited and Newcross Exploration & Production Limited, according to Nairametrics. The agency stated that the funds were liabilities established for unremitted statutory payments to the Federation, Premium Times reported. The EFCC's Lagos Zonal Directorate handed the money over to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Vanguard noted. The Whistler described the recovery as stemming from alleged non-remittance of statutory revenues.

What we know

• EFCC recovered $3 million and N1.303 billion.
• The funds were recovered from Aiteo and Newcross Exploration & Production Limited.
• The money was handed over to the RMAFC.
• The recovery was for unremitted statutory payments to the Federation.

Sources

1. EFCC recovers $3m, N1.3bn from two oil firms – Punch, 20 h ago
2. EFCC recovers $3 million, N1.3 billion unpaid oil fees from Aiteo, Newcross – Nairametrics, 20 h ago
3. EFCC Recovers $3m, N1.3bn From Two Oil Firms – The Whistler, 19 h ago
4. EFCC recovers $3m, N1.3bn unremitted revenues from two firms, hands over funds to RMAFC – Premium Times, 19 h ago
5. EFCC recovers $3m, N1.3bn from two oil firms over unremitted revenues – Daily Post, 17 h ago
6. EFCC recovers $3m, N1.3bn from 2 oil firms – Daily Trust, 11 h ago
7. EFCC recovers $3m, N1.3bn from Aiteo, Newcross – Vanguard, 4 h ago
8. EFCC hands over $3m, N1.3bn ‘unremitted revenue’ recovered from two oil firms to RMAFC – Nigerian Eye, 4 h ago
9. EFCC recovers $3m, N1.3b from two oil firms – The Eagle Online, 17 min ago

Updates

• 11 Nov, 16:05 WAT – Now also reported by The Eagle Online
• 11 Nov, 12:28 WAT – Summary updated with new reporting
• 11 Nov, 12:18 WAT – Now also reported by Nigerian Eye
• 11 Nov, 11:17 WAT – Now also reported by Vanguard
• 11 Nov, 07:47 WAT – Now also reported by Daily Trust
• 11 Nov, 03:58 WAT – No longer developing - story consolidated
• 10 Nov, 23:05 WAT – Summary updated with new reporting
• 10 Nov, 23:05 WAT – Now also reported by Daily Post
• 10 Nov, 22:01 WAT – Now also reported by Premium Times
• 10 Nov, 21:09 WAT – Story published - 3 outlets

This page groups reports from the outlets above; headlines belong to their publishers. Summary written by our automated desk from multiple reports. How we work.

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