EFCC Returns N3.94bn Recovered Funds to NNPCL

EFCC Returns N3.94bn Recovered Funds to NNPCL

The Economic and Financial Crimes Commission (EFCC) has handed over a total of N3.94 billion recovered from fraudulent transactions to the Nigerian National Petroleum Company Limited (NNPCL).

The funds, precisely N3,936,145,822, were officially presented on Wednesday at the EFCC headquarters in Abuja by the Commission’s Secretary, Mohammed Hammajoda, who represented the Executive Chairman, Ola Olukoyede.

Speaking during the handover, Hammajoda said the recovery followed painstaking investigations that exposed fraudulent dealings involving certain actors within the national oil company.

According to him, the exercise underscores the Commission’s resolve to tackle economic and financial crimes, regardless of the risks involved.

“The funds were recovered through diligent investigation and the professional uncovering of fraudulent engagements by some actors within NNPCL,” he said.

He added that the Commission remains committed to serving Nigerians with integrity and courage, despite the dangers associated with its operations.

“On behalf of the Executive Chairman, we will continue to put ourselves on the line to serve over 220 million Nigerians. Along the line, many of our colleagues have paid the price, and others will still do so as we carry on with this responsibility,” he stated.

Receiving the recovered funds on behalf of the oil firm, the Executive Vice President, Downstream, Mumuni Dagazau, commended the EFCC for what he described as a significant step in promoting transparency.

Dagazau noted that the recovery reflects growing institutional collaboration and aligns with ongoing reforms within NNPCL to strengthen its operational systems.

“This development is a clear demonstration of the synergy between institutions. It also reflects our commitment to addressing operational challenges and improving transparency,” he said.

He expressed confidence in sustained collaboration between both organisations, stressing that such efforts are critical to entrenching accountability in Nigeria’s oil and gas industry.

The latest recovery and restitution highlight ongoing efforts by anti-corruption agencies to trace, recover, and return public funds, as part of broader measures to improve governance and financial discipline in the sector.