EFCC returns ₦3.9bn recovered assets to NNPC Ltd

The Economic and Financial Crimes Commission (EFCC) officially handed over ₦3,936,145,822 in recovered funds to the Nigerian National Petroleum Company (NNPC) Limited on Wednesday.

The ceremony, held at the Commission’s headquarters in Abuja, marks a significant milestone in the ongoing effort to sanitize the nation’s oil sector and retrieve diverted public assets.

The presentation was conducted by the Secretary to the Commission, Mohammed Hammajoda, who represented the EFCC Executive Chairman, Ola Olukoyede.

Hammajoda revealed that the nearly ₦4 billion sum was recovered through high-level diligent investigation and the professional uncovering of fraudulent activities involving certain actors within the NNPCL.

He reaffirmed the Commission’s unwavering commitment to curbing economic crimes, noting that EFCC operatives continue to work with courage and integrity to protect the interests of over 220 million Nigerians, often at great personal risk.

Receiving the funds on behalf of the national oil company, the Executive Vice President, Downstream, Mumuni Dagazau, expressed profound gratitude to the anti-graft agency.

Dagazau acknowledged that while the NNPCL has faced systemic challenges over the years, the management has remained focused on internal corrections and transparency.

He lauded the core unity between both agencies, noting that the decision to involve the EFCC in the recovery process was a proud moment for the NNPCL and a clear signal of the company’s commitment to accountability moving forward.

The handover is expected to bolster the NNPC Ltd’s liquidity and serves as a stern warning to players in the energy sector regarding the government’s zero-tolerance policy for financial misappropriation.