The Economic and Financial Crimes Commission (EFCC) has recovered $60 million for lenders of Nestoil as part of an ongoing debt investigation.
Nestoil, a Nigerian company, had been under investigation by the EFCC over debt-related issues.
In a recent development, the EFCC facilitated a meeting between Nestoil and a consortium of banks, resulting in an agreement for a structured debt repayment plan.
This agreement is a significant step forward in the ongoing investigation, with the recovery of $60 million being a substantial amount.
The EFCC's role in facilitating the meeting and agreement highlights the commission's efforts to resolve the debt issue and ensure that lenders receive their due payments.
Further details of the agreement and the investigation are not available at this time, but the recovery of $60 million marks a notable progress in the case.
<small>Source: Premium Times Nigeria — read the original story there.</small>
