# EFCC financial crime and oil revenue enforcement

> Developing situation record from CLSTR: https://clstr.news/situations/efcc-financial-crime-and-oil-revenue-enforcement
> Updated: 2026-11-10T18:40:40.000Z. Sources: 5. Developments: 2.

The Economic and Financial Crimes Commission (EFCC) has conducted several operations involving the recovery of significant funds and the discovery of illegal activities in Nigeria.

Over a 34 month period ending July 31, 2026, the EFCC recovered more than N1.233 trillion and various foreign currencies, securing 10,872 convictions. In a separate intelligence led operation in Ogun State, investigators discovered an illegal oil refinery allegedly operated by Chinese nationals. The facility was reportedly processing sludge oil into diesel for commercial sale. This follows a previous incident in the same region involving the alleged operation of illegal lithium processing plants.

Additionally, the EFCC recovered $3 million and N1,303,128,000 in unpaid statutory oil payments from Aiteo Exploration and Production Limited and Newcross Exploration and Production Limited. The recovery resulted from investigations into allegations of conspiracy, tax evasion, and economic sabotage regarding unremitted stamp duties and pipeline transportation fees between 2010 and 2019. The recovered funds were transferred to the Revenue Mobilisation Allocation and Fiscal Commission.

## Claims

- The EFCC recovered $3,000,000 and N1,303,128,000 from Aiteo Exploration and Production Limited and Newcross Exploration and Production Limited. (reported by 3 sources)
- The recovered funds were handed over to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on November 10, 2026. (reported by 2 sources)
- The investigation followed a petition alleging conspiracy, tax evasion, and economic sabotage. (reported by 2 sources)
- The alleged non-remittance of revenues occurred between 2010 and 2019. (reported by 2 sources)
- The unremitted revenues concerned stamp duty and pipeline transportation fees. (reported by 2 sources)
- The RMAFC obtained a presidential fiat on December 20, 2021, to recover outstanding revenues. (reported by 2 sources)
- Affected facilities included Escravos, Pennington, Trans-Forcados, Odudu, Amenam, and Nembe Creek Trunkline. (reported by 2 sources)

## Timeline

### 2026-11-10: EFCC recovers $3m and N1.3bn in unpaid oil fees from Aiteo and Newcross

The EFCC recovered $3 million and N1.3 billion in unpaid statutory oil fees from Aiteo and Newcross Exploration, handing the funds to the RMAFC following investigations into revenue losses.

3 sources. https://clstr.news/cluster/efcc-recovers-3m-and-n13bn-in-unpaid-oil-fees-from-aiteo-and-newcross

### 2026-11-05: EFCC recovers N1.233 trillion and uncovers illegal refinery in Nigeria

Nigeria's EFCC has recovered N1.233 trillion and secured over 10,000 convictions, while also uncovering an illegal oil refinery in Ogun State allegedly run by Chinese nationals.

2 sources. https://clstr.news/cluster/efcc-recovers-n1233-trillion-and-uncovers-illegal-refinery-in-nigeria

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Cite as: EFCC financial crime and oil revenue enforcement. CLSTR, https://clstr.news/situations/efcc-financial-crime-and-oil-revenue-enforcement