The Economic and Financial Crimes Commission (EFCC) has stepped up pressure to recover about N12.59 billion from an indigenous off stream Oil Company.
Top EFCC sources said that the company was expected to pay backlog of taxes accruable to the federal government to the tune of $63,751,825.22.
The amount converts to about N12.57 billion, going by current Central Bank (CBN) foreign exchange rates.
The EFCC investigation into fraud and tax evasion in the oil sector is aimed at recovering all unpaid taxes from the company.
It was learnt that the taxes cover the period from 2000 to 2012 which include: education tax, petroleum profit tax, withholding tax and Value Added Tax (VAT).
Sources also said the anti-graft agency had already recovered $14,456,422.10 from the oil company as unpaid royalties for the federal government.
It could be recalled that Atlantic Energy Drilling Concepts Nigeria Limited allegedly paid $14 million as unpaid crude oil royalties to the federal government.
The federal government reportedly received that money shortly after the EFCC intervened and commenced investigation into fraud in the oil sector.
The EFCC on October 5, 2015 arrested Jide Omokore, owner of Atlantic Energy, who is said to be a business associate of former petroleum minister Diezani Alison-Madueke.
Omokore was interrogated by the EFCC on allegations of money laundering and conspiracy to siphon billions of naira in fraudulent oil industry contracts while Diezani Alison-Madueke was minister.
EFCC sources, who asked for anonymity, said Omokore allegedly used his companies to facilitate bogus oil swap deals that cost the country billions of naira.
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