The Financial and Monetary Crimes Fee (EFCC) on Thursday carried out a scrutiny of Dangote Group’s monetary data, as a part of an investigation into potential misappropriation of overseas forex obtained from the central financial institution, in response to two sources inside the company who spoke to Reuters.
Throughout the tenure of the previous Central Financial institution of Nigeria (CBN) governor, Godwin Emefiele, the financial institution employed varied change charges and offered {dollars} at decrease charges to sure companies, together with Dangote, facilitating their importation of uncooked supplies.
There was no fast response from a Dangote spokesperson to requests for feedback.
Sources inside the Financial and Monetary Crimes Fee (EFCC) disclosed that the search carried out at Dangote workplaces in Lagos on Thursday is a part of an ongoing investigation that’s anticipated to increase to different corporations.
Based on the sources who spoke to Reuters,
- “We went to the pinnacle workplace of Dangote Group at present to look into their books on the continued investigation on the abuse of the extant legal guidelines that govern the overseas change transaction in the course of the tenure of Godwin Emefiele as CBN governor,”
- “Right here, we’re speaking about a number of change charges and others. It’s an ongoing investigation, and it was the flip of Dangote Group at present,”
What it’s best to know
- Aliko Dangote, Africa’s wealthiest particular person, owns the Dangote Group, encompassing varied enterprises equivalent to cement and fertilizer manufacturing, and sugar refining.
- Moreover, he’s within the technique of finishing a $20 billion funding in an oil refinery with a day by day capability of 650,000 barrels.
- President Bola Tinubu had promised on his inauguration to hold out a radical “house cleaning” on financial coverage.
- In July, the President appointed Jim Obazee, Chief Government Officer of the Monetary Reporting Council of Nigeria, as a particular investigator to probe the Central Financial institution of Nigeria (CBN) and associated entities.
