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January 5, 2024 EFCC Raids Dangote Group and Other Firms In Forex Abuse Probe Under Emefiele
the Economic and Financial Crimes Commission; EFCC, Nigeria’s anti-graft agency, yesterday, raided the headquarters of Dangote Group in Lagos at about 3:00 p.m. as part of an ongoing probe into the former Central Bank governor, Godwin Emefiele. An official at the Economic and Financial Crimes Commission (EFCC) who confirmed the raid  said the commission’s team was looking into foreign exchange (forex) allocations by the Central Bank under Emefiele, who was arrested in June last year on charges, including fraud. The EFCC on arrival at the headquarters of Dangote group in Lagos,  demanded documents relating to allocation of forex to the group in the last 10 years. They then scrutinized the documents provided by Dangote officials for hours, taking some away with them. It was, however, gathered that the EFCC had written to some other companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years. No explanation was given to why the raid/inspection began with Dangote Group and there were no details of other firms listed for investigation. The EFCC letter to the companies is part of ongoing investigation into alleged preferential forex allocations to individuals and organizations by the Emefiele-led Central Bank of Nigeria (CBN).

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