The Economic and Financial Crimes Commission (EFCC) visited the Dangote Group’s office in Lagos to investigate Forex allocations by the Central Bank of Nigeria (CBN) during former Governor Godwin Emefiele’s tenure. The company confirmed this search and assured stakeholders, asking for patience while promising updates.
The EFCC is examining 52 companies’ forex transactions over the past decade, specifically looking into allocations during Emefiele’s CBN governorship. Dangote Group received a letter from EFCC requesting its forex allocation details from 2014 till date, a query shared with 51 other companies.
The company responded, seeking clarity on the subsidiaries involved and asked for more time to compile the necessary documentation spanning the ten-year period.
“However, the EFCC did not provide the clarification sought and also did not honour the request for an extension and insisted on receiving the complete set of documents within the limited timeframe.
“In spite of this constraint, we assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation.
“On Jan. 4, our team delivered the first batch of documents to the EFCC. However, officers of the EFCC did not accept the documents, insisting on visiting our offices to collect the same set of documents directly.
“Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officers proceeded to visit our offices to demand for the same documents in a manner that appeared designed to cause us unwarranted embarrassment,” it said.
The company underscored that, as far as it was aware, no allegations of misconduct had been leveled against any entity within its conglomerate.
Affirming its commitment as a law-abiding and ethical corporate entity, the Dangote Group pledged to furnish the EFCC with required information and full cooperation. Simultaneously, the company reiterated its dedication to contributing significantly to the domestic economy.
“We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents in good time, to aid their investigation.
“Our Group is a key contributor to the national Gross Domestic Product (GDP) the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange and one of the highest taxpayers in the country.
“We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment conducive for investment and value creation for both local and foreign investors,” it said.
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