March 17, 2025

The House of Representatives through its Public Accounts Committee has recovered 28.7 billion naira from two oil companies indebted to the Federation Account.

The Spokes person of the House Akin Rotimi in a statement, said the Committee is currently investigating 45 oil companies collectively owing the Federal Government 1.7 billion dollars in outstanding liabilities, as contained in the Audit Report released by the Office of the Auditor General of the Federation for the 2021 financial year.

The House noted that Chorus Energy Limited remitted 1.2 billion Naira while Seplat Production Development Limited fully settled its obligation of 27.6 billion Naira, all paid in dollars between 10th and 14th of March, 2025.

The Public Accounts Committee has also recovered 199.3 million Naira from two Nigerian banks, being unremitted Value Added Tax on transactions processed via the Remita platform between March and October 2015.

The House of Representatives says it remains committed to upholding financial discipline and safeguarding public resources in national interest.