EFCC Recovers $3 Million and N1.3 Billion in Unpaid Oil Fees from Aiteo and Newcross
The Economic and Financial Crimes Commission (EFCC) has recovered $3 million and N1.303 billion for the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) from Aiteo Exploration and Production Limited and Newcross Exploration & Production Limited over unremitted statutory payments to the Federation.
The Lagos Zonal Directorate 2 of the EFCC disclosed the recovery in a statement published on the commission’s official X page on Tuesday, November 10, 2026. The recovered sums relate to outstanding stamp duties and crude oil pipeline transportation fees covering the period between 2010 and 2019.
How the Investigation Began
According to the EFCC, the recovery followed an investigation prompted by a petition from a consulting firm engaged by RMAFC. The petition alleged conspiracy, tax evasion and economic sabotage, resulting in revenue losses to the Federation through the non-remittance of stamp duties and pipeline transportation fees into designated Federation accounts.
The affected oil infrastructure included the Escravos, Pennington, Trans-Forcados, Odudu, Amenam and Nembe Creek Trunkline facilities. The EFCC stated that the alleged non-remittance occurred between 2010 and 2019.
RMAFC had obtained a presidential fiat dated December 20, 2021, authorising it to recover outstanding revenues due to the Federation from affected public and private entities. Following the EFCC investigation, both companies submitted documents detailing their remittances for review.
Breakdown of the Liabilities
The commission’s analysis established that Aiteo failed to remit $38.43 million in 1.5% stamp duty arising from its acquisition of Oil Mining Lease (OML) 29 and the Nembe Creek Trunkline. Newcross, meanwhile, was found to have failed to remit $22.84 million in crude oil transportation fees for its use of the Nembe Creek Trunkline, which is operated as a joint venture between the Federal Government and Aiteo.
The EFCC said both companies accepted their respective liabilities and began making payments through the commission’s recovery accounts domiciled with the Central Bank of Nigeria (CBN). Further investigation and recovery efforts resulted in additional payments between January 28 and August 24, 2026, with the commission providing a breakdown of the amounts paid by each company.
Notably, the EFCC did not state that the companies had fully settled their respective liabilities. The amounts therefore represent the payments disclosed in the latest recovery exercise rather than confirmation that all outstanding obligations have been cleared.
Part of a Wider Revenue Drive
The recovery comes amid wider Federal Government efforts to collect outstanding statutory revenues from oil and gas companies operating in Nigeria. Previous investigations and legislative actions have also focused on unpaid taxes, royalties, concession rentals and other obligations to the Federation.
These outstanding obligations include petroleum profit tax, company income tax, education tax, value-added tax, withholding tax, royalties and concession rentals.
In a subsequent development, the House disclosed that seven oil companies, including Newcross, had acknowledged outstanding debts of $37.44 million and undertaken to remit the amount to the Federation Account before August 2025. The committee also identified another $1.7 billion in unpaid royalties owed by 45 oil and gas companies as of December 31, 2024.
What the Recovery Signals
The EFCC’s action against Aiteo and Newcross underscores the commission’s growing role in enforcing statutory remittances to the Federation, particularly in the oil and gas sector, where unpaid stamp duties and transportation fees have long been a concern. By routing recoveries through CBN-domiciled accounts, the process provides a traceable channel for funds owed to the Federation.
For RMAFC, the recovery represents a concrete outcome of its mandate, backed by the December 2021 presidential fiat, to pursue outstanding revenues from both public and private entities. The case also highlights the role of petitions from consulting firms in triggering investigations that lead to recoveries.
However, the EFCC’s statement leaves key questions unanswered, including the exact balance outstanding for each company and the timeline for full settlement. Until those liabilities are cleared, the recovery remains a partial win in a broader effort to plug revenue leakages in Nigeria’s oil and gas sector.
