The Economic and Financial Crimes Commission (EFCC) raided the Dangote office headquarters in Lagos today as part of their continuing investigation into 52 companies related to foreign exchange transactions.
The commission is investigating forex allocations to these companies during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).
We understand that the EFCC wrote to the various companies asking for documentation on their forex transactions in the last 10 years.
Some of the big companies being investigated are Dangote Group, BUA Group and Flour Mills – but they have all denied wrongdoing in their communications with the EFCC.
According to insiders, the Dangote Group said it is ready to explain every details of its forex transactions as it did not breach any laws.
Details of the EFCC investigations are still sketchy but it appears to be a blanket investigation into the biggest companies that got forex allocations from the CBN under Emefiele.
Dele Oyewale, the EFCC’s spokesman confirmed the development.
Emefiele was suspended as CBN governor by President Bola Tinubu on June 9, 2023, and was subsequently arrested and detained for over five months.
He has been charged to court over various allegations which he denies.
