…secure additional N199.3m from Zenith Bank, GTB via Remita investigation
The House of Representatives recorded a significant breakthrough in ongoing efforts to recover outstanding revenues, securing $19,241,109.35 (approximately N28.7 billion) from two oil companies indebted to the Federation Account.
The recovery was made through the Committee on Public Accounts, chaired by Rep. Bamidele Salam (PDP-Osun) on the investigative hearing on the 2021 Audit Report, which focused on 45 oil companies collectively owing $1.7 billion in outstanding liabilities to the Federation.
According to the report: Chorus Energy Limited settled outstanding liability with a payment of $847,623 (N1.2 billion) on March 11, 2025.
On its part, Seplat Production Development Limited fully discharged its obligation by remitting $18.39 million (N27.6 billion) between March 10 and March 14, 2025.
According to the report made available to Parliamentary Correspondents, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been furnished with evidence of these payments for final verification.