The Economic and Financial Crimes Commission (EFCC) has initiated a thorough investigation into the forex dealings of prominent companies in the wake of Godwin Emefiele’s tenure as the Central Bank of Nigeria (CBN) governor.
Notable entities such as Dangote Group, BUA Group, and Flour Mills are among the 52 companies currently under the EFCC’s scrutiny.
Sources suggest that the EFCC had previously requested a decade’s worth of documentation from these companies regarding their forex transactions. Despite the allegations, all 52 companies, including the Dangote Group, maintain their innocence and assert their compliance with the law.
The Cable reports that the Dangote Group, in particular, is prepared to provide a comprehensive account of its forex transactions, vehemently denying any breaches of regulations.
When questioned about the unfolding situation, the EFCC spokesperson, Dele Oyewale, opted not to comment on the matter.
The investigation comes on the heels of Emefiele’s suspension as CBN governor by President Bola Tinubu on June 9, 2023. Subsequently, Emefiele faced arrest and detention by security operatives. Following several months in custody, he was released from the Kuje Correctional Center in December 2023 after meeting the court’s bail conditions.
