EFCC Returns N3.93bn to NNPC Following Probe Into Oil Sector Fraud

The Economic and Financial Crimes Commission (EFCC) has transferred N3.93 billion in recovered funds to the Nigerian National Petroleum Company Limited (NNPC Ltd), following investigations into financial misconduct involving individuals linked to the state-owned oil company.

The handover took place on March 18, 2026, at the EFCC headquarters in Abuja. The commission’s secretary, Mohammed Hammajoda, presented the funds on behalf of EFCC chairman Ola Olukoyede.

According to the agency, the recovered sum totals N3,936,145,822 and was traced to fraudulent activities uncovered during its investigation.

Hammajoda said the recovery reflects the commission’s ongoing efforts to address economic crimes and hold individuals accountable. He added that the EFCC would continue its work despite the risks faced by its personnel.

The funds were received by Mumuni Dagazau, executive vice-president for downstream operations at NNPC Ltd. He described the recovery as a positive outcome of collaboration between the oil company and the anti-corruption agency.

Dagazau said the development highlights internal efforts within NNPC to address operational challenges and improve accountability. He added that the company would continue to work with the EFCC on similar matters.