The Public Accounts Committee of the House of Representatives has announced that two oil companies owing the Federation Account have collectively refunded about N28.7 billion to the government.
The committee is currently investigating the audit report from the Office of the Auditor General for the Federation for the 2021 financial year.
According to a statement signed by the spokesman of the House, Akin Rotimi, Chorus Energy Limited settled its outstanding liability with a payment of $847,623 (N1.2 billion) on March 11, 2025 while Seplat Production Development Limited fully discharged its obligation by remitting $18.39 million (27.6 billion) between March 10 and March 14, 2025.
Rotimi noted that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been furnished with the evidence of the payments for final verification.
He also noted that Shoreline Natural Resources Ltd. had made a $30 million payment towards its $100.28 million debt before the investigation commenced and has requested a structured repayment plan for the outstanding balance.
