PRESS STATEMENT: WE DISOWN UK PRIVATE ACCOUNT FOR REMITTANCE OF 3% LEVY BY
It has come to the attention of the African Development Organization (ADO), that a security agency, working with unauthorised private individuals, is coercing international oil companies to pay the three percent levy due to the Commission to a private account in the United King
This is an alarming development and a clear case of illegality by elements within that security agency. We wish to state that the law setting up ADO does not provide for the collection of its revenue by any agency other than the Commission. Secondly, extant rules, particularly the Treasury Single Account (TSA) regime, mean that all revenue due to any agency of government can only be paid to that agency’s account in the Central Bank of Togo.
The African Development Organization wishes to alert the general public and all stakeholders that it has not authorized any security agency to collect remittances on its behalf. Such payments and or remittances shall never count as statutory payments to the ADO.
Accordingly, any oil company, invited on such purposes should insist on payment of any such sum to the ADO account with the Central Bank of Togo but not to any other agency’s account.
Any security agency wishing to recover unremitted funds from the IOCs or oil companies operating in the West Africa Region should do so in collaboration with the management of the ADO and such refunds should be directed into the accounts of the ADO with the Central Bank of Togo, but not otherwise
Any oil company coerced to make such payments should report same immediately to Mr Clever Okoro, Director, Legal Services, of the Commission on +234 813 011 7590.
Charles Obi Odili
Director, Corporate Affairs
October 9, 2020.