SAHARA REPORTERS
The Economic and Financial Crimes Commission (EFCC) is reportedly investigating 52 companies over foreign exchange transactions with the Central Bank of Nigeria (CBN).
The EFCC is investigating forex allocations to the 52 companies under the leadership of the embattled former CBN Governor, Godwin Emefiele.
The anti-graft commission wrote to the various companies asking for documentation on their forex transactions in the last 10 years, TheCable reports.
Some of the companies under investigation include Dangote Group, BUA Group and Flour Mills — but they have all denied wrongdoing in their communications with the EFCC.
SaharaReporters earlier reported that operatives of the EFCC conducted a search operation at the Lagos head office of the Dangote Group.
The EFCC operatives reportedly conducted a search on forex allocations to the company during Emefiele’s tenure as CBN Governor.
Dele Oyewale, the EFCC’s spokesman, has also confirmed the development.
Insiders revealed that the Dangote Group said it was ready to explain every detail of its forex transactions as it did not breach any laws.
Details of the EFCC investigations are still sketchy but it appears to be a blanket investigation into the biggest companies that got forex allocations from the CBN under Emefiele.
