By the IDNN Political Economy Desk
The House of Representatives Public Accounts Committee (PAC) has announced the recovery of ₦11.5 billion from oil companies and other corporate entities following a series of investigative hearings into financial compliance lapses.
Committee Chairman Bamidele Salam disclosed this during a media briefing at the National Assembly, revealing that the latest sum brings the committee’s total recoveries in the last 10 months to ₦61.5 billion.
The PAC attributed its success to collaboration with the Office of the Auditor-General of the Federation and intensified compliance enforcement on MDAs and public-private partnerships.
Salam stated that defaulters have been issued deadlines for full settlement or face public naming and legal action in the coming quarter.