The Economic and Financial Crimes Commission (EFCC) is currently scrutinising 52 companies for their involvement in foreign exchange transactions with the Central Bank of Nigeria (CBN) during the tenure of the former CBN Governor, Godwin Emefiele.
Operatives of the EFCC recently conducted a search operation at the Lagos head office of the Dangote Group, one of the companies under investigation.
The investigation focuses on forex allocations to these companies during Emefiele’s leadership at the CBN.
In a move to gather relevant information, the anti-graft commission has sent letters to the implicated companies, requesting documentation on their forex transactions spanning the last decade.
Notable entities such as the Dangote Group, BUA Group, and Flour Mills are among those under scrutiny.
Despite the allegations, these companies have vehemently denied any wrongdoing in their responses to the EFCC.
The search operation at the Dangote Group’s office specifically targeted forex allocations during Emefiele’s tenure.
The EFCC’s spokesperson, Dele Oyewale, has confirmed the ongoing investigation.
The Dangote Group has expressed its readiness to provide detailed explanations of its forex transactions, asserting that it has not breached any laws.
While specific details of the EFCC’s investigation remain unclear, it appears to be a comprehensive inquiry into major companies that received forex allocations from the CBN under Emefiele’s leadership.
The development underscores heightened scrutiny on financial transactions during the former governor’s tenure.
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