An operative of the EFCC, who confided in our correspondent, said that
the amount translated to N4,380,95,866.00bn at the rate of N303 to the
dollar.
It was stated that the company was expected to pay the money which was
described as royalty for crude oil to the Federal Government between
2012 and 2012.
It was stated that the money was paid by the firm to the Federal Governments’ account with JP Morgan Chase on January 29, 2016.
The source said that the company responded with the payment of the
outstanding royalty with intensified pressure for the recovery of the
loan by the commission.
The source was silent on the name of the company.
The commission was said to have threatened companies with outstanding
taxes to pay up or risk arrest and prosecution for tax evasion.
“The EFCC has recovered over $14m (about N4,380, 295,866.00 at the rate
of N303 to a dollar) for the Federal Government, being crude oil royalty
which was supposed to have been paid between 2011 and 2012 by an oil
and gas company operating in the upstream sector of the Nigerian oil
industry.
“The money was finally paid into the Federal Government’s account with
JP Morgan Chase on January 29, after EFCC intervened forcefully into the
matter of recovering taxes due to the Federal Government,” source:- the punch
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