The Economic and Financial Crimes Commission (EFCC) has reportedly conducted a surprise operation at the BUA Towers, the office of BUA Cement, situated at PC 32, Churchgate Street, Victoria Island, Lagos State.
This action comes as part of the agency’s broader investigation into forex transactions, with 52 companies, including Dangote Group, BUA Group, and Flour Mills, under scrutiny.
The EFCC’s recent activities follow a similar operation at the Lagos head office of Dangote Group on Thursday, revealing a heightened focus on examining forex allocations granted during Godwin Emefiele’s tenure as the governor of the Central Bank of Nigeria (CBN).
Having already issued requests for documentation on forex transactions spanning the last decade, the EFCC is delving into the financial affairs of these companies. Despite the inquiries, all entities, including BUA Group, have staunchly denied any wrongdoing in their communications with the anti-graft agency.
This development underscores a sweeping investigation into the financial activities of major corporations, adding intrigue to the unfolding narrative of forex-related scrutiny by the EFCC.
