EFCC Transfers N3.93bn Recovery to NNPC Over Fraud Probe

The Economic and Financial Crimes Commission has handed over N3.93 billion to the Nigerian National Petroleum Company Limited, saying the money was recovered from certain individuals linked to the oil company.

The anti-graft agency said the funds were presented at its headquarters in Abuja on behalf of EFCC chairman Ola Olukoyede by the commission’s secretary, Mohammed Hammajoda.

According to the EFCC, the recovered sum totals N3,936,145,822 and was returned to NNPC following investigations into fraudulent activities involving some individuals in the company.

Speaking at the handover ceremony, Hammajoda said the recovery reflects the commission’s continued resolve to fight economic and financial crimes. He said the money was traced and recovered through detailed investigations and the exposure of fraud by those involved.

He added that the EFCC remains committed to serving Nigerians despite the risks that come with its work, noting that some officers have already paid a heavy price in the line of duty while others may still do so as the agency continues its operations.

Receiving the funds for NNPC, the company’s Executive Vice-President for Downstream, Mumuni Dagazau, thanked the commission for its role in the recovery. He said the development shows the level of cooperation that exists between public institutions in tackling wrongdoing.

Dagazau said NNPC has faced challenges over the years but has continued trying to improve its systems. He noted that the recovery process was encouraging and said the company was proud to have worked with the EFCC on the matter.

He also described the handover as an important moment and said NNPC would continue to rely on the commission’s support as part of efforts to strengthen accountability going forward.