A member of the Home of Representatives, representing Ideato North/South Federal Constituency, Hon. Ikenga Ugochinyere Ikeagwuonu has expressed considerations over the raid of the headquarters of the Dangote Group by operatives of the Financial and Monetary Crimes Fee, EFCC.
The EFCC had on Thursday raided the headquarters of the Dangote Group in reference to ongoing investigation into foreign exchange allocations within the nation.
It was reported that on arrival on the headquarters of the Dangote group in Lagos, the EFCC operatives demanded paperwork referring to allocation of overseas trade to the group within the final ten years.
They then scrutinised the paperwork offered by officers of the Group for hours, carting a few of them away.
Reacting to the event, Ugochinyere, who’s the Chairman, Home Committee on Petroleum Sources, Downstream, stated the raid was able to worsening the financial scenario within the nation and scaring buyers.
In a press release made accessible to Arogidigba International Journal on Friday, the lawmaker stated raiding one of many largest conglomerates in Africa at a time when the nation was grappling to save lots of its fragile financial system, was a unsuitable transfer which might additional erode efforts to stabilise the financial system.
Ugochinyere stated, “I learn in regards to the raid of the headquarters of the Dangote Group in reference to ongoing investigation into foreign exchange allocations within the nation.
“The EFCC was reported to be investigating foreign exchange allocations to some firms in the course of the tenure of Godwin Emefiele as Governor of the Central Financial institution of Nigeria (CBN).
“I’m of the view that the timing of the raid on Dangote Group shouldn’t be solely very suspicious, however most significantly able to worsening the financial scenario and scaring buyers.
“In the previous couple of months, our nation has misplaced so many overseas buyers. Whereas a number of the overseas firms working within the nation are leaving, potential buyers are additionally sidelining us.
“Now you might have the EFCC raiding the headquarters of the most important industrial conglomerates in West Africa.
“This isn’t good for us internationally. What is going to the worldwide group consider Nigeria once they examine information like this? Dangote Group’s affect for many years has been felt by means of varied aspects of Nigeria’s financial system.
“And given our present fragile financial scenario, I imagine this transfer by the EFCC will worsen issues.
“Now shouldn’t be the time for this; it’s time for the nation to give attention to integration of African economies and growth of commerce and investments throughout the continent to stimulate progress and create employment alternatives.”