The Economic and Financial Crimes Commission (EFCC) has conducted a raid on the headquarters of the Dangote Group, led by Africa’s wealthiest man, Aliko Dangote. The operation is part of the ongoing investigation into forex allocations in Nigeria.
EFCC operatives demanded documents related to the allocation of foreign exchange to the conglomerate over the past decade. Sources reveal that the anti-graft agency had previously written to 52 companies, including Dangote Group, requesting documents regarding forex allocations and utilization.
During the raid, EFCC officials scrutinized documents provided by Dangote Group officials, eventually taking some of them into custody. The move is part of a broader investigation into alleged preferential forex allocations by the Central Bank of Nigeria under Governor Godwin Emefiele.
While some companies have complied with the EFCC’s requests, others requested additional time to gather information. In the case of the Dangote Group, the EFCC opted to conduct the operation at the company’s headquarters.
The manner in which the EFCC executed the raid has raised concerns about its impact on foreign investment, particularly as Dangote Group is a major player in Africa’s business landscape. Critics argue that such tactics may deter foreign investors from engaging with Nigeria.
Spokespersons for both the EFCC and the Dangote Group declined to comment on the matter at the time of reporting. The incident highlights the complexity and scrutiny surrounding forex allocations in Nigeria’s business environment. 💼🔍 #EFCC #DangoteGroup #ForexProbe #NigeriaBusiness #AlikoDangote