The Public Accounts Committee of the House of Representatives has announced the refund of twenty-eight point seven billion naira by the two oil companies owing the Federation Account.
The committee is currently investigating the audit report from the Office of the Auditor-General for the 2021 financial year.
According to a statement on Sunday, by the spokesman of the house, Akintunde Rotimi, one of the two companies cleared its outstanding liability of one point two billion naira on 11th March, while the other second company settled its obligation by remitting twenty-seven point six billion naira between 10th and 14th March 10, 2025.
Rotimi added that the Nigerian Upstream Petroleum Regulatory Commission has been provided with payment evidence for final verification.