Elizabeth O.
EFCC Conducts Search at Dangote Headquarters Regarding FX Transactions
Their purpose was to conduct a search relating to forex allocations made to the company during Godwin Emefiele’s tenure as the governor of the Central Bank of Nigeria (CBN).
A representative from Dangote confirmed that the EFCC operatives were present at the head office and requested documents pertaining to forex transactions with the CBN. The Premium Times also reported that upon their arrival at the headquarters of one of Africa’s largest conglomerates in Lagos, the EFCC officials demanded documents regarding the allocation of foreign exchange to the group over the past ten years.
During their visit, the EFCC investigators thoroughly examined the provided documents, spending several hours on the task. They also seized some of the documents for further analysis. It was revealed that the EFCC had sent letters to 52 companies, including Dangote, instructing them to supply documentation supporting the allocation and utilization of foreign currencies over the past decade.
This action by the EFCC is part of an ongoing investigation into allegations of preferential forex allocations to individuals and organizations by the Central Bank of Nigeria under the leadership of Godwin Emefiele. Over the past months, investigators have accused the CBN of favoring certain individuals and companies by allocating foreign exchange in a non-transparent manner, resulting in their enrichment.
In December, a forensic audit of the CBN during Emefiele’s tenure had uncovered 593 bank accounts held in the United States, the United Kingdom, and China, where Nigerian funds were deposited without authorization from the bank’s board and investment committee.
