The Economic and Financial Crimes Commission (EFCC) has recovered more than N100 million in unremitted royalties from miners who operate in Akwa Ibom State.
The funds, recovered following a string of complaints to the EFCC by defaulting companies, have been lodged in the federal treasury through the Ministry of Solid Minerals Development, following instructions of EFCC Chairman, Ola Olukoyede.
Disbursing the recovered funds in the way of bank cheques to Federal Mines Officer handling Akwa Ibom, Mr. Emmanuel Effiong Bassey, EFCC Zonal Director, Oshodi Johnson stated the move was in accordance with efforts to check sabotage in mining.
The ministry lodged petitions against certain companies operating in the state, earning profits on resources without remitting royalties to the federal government. This is sabotage through economic means, and we will not allow it to be done because it ultimately hurts the public,” Johnson said.
He added that recovery indicated the Commission’s commitment to ensure transparency and accountability in asset recovery.
“With the nod of approval from the Executive Chairman, we are releasing N100 million value drafts. That is just a beginning that the Commission will gain back each kobo owing to government, and we foresee much larger recovery in the mining industry and others,” he assured.
Johnson also called for more inter-ministerial cooperation and partnership with the EFCC, particularly in intelligence sharing.
In his response, Mr. Bassey praised the anti-graft agency for its pace, citing the importance of the mining industry to the economic sustenance of Nigeria.
“This industry is very important to the economy because if we do not have it, the country stutters. The synergy between our ministry and EFCC must be further improved, and through this collaboration, we are hoping to make even more recoveries,” Bassey said.
