The Economic and Financial Crimes Commission (EFCC) is currently investigating Dangote Group, BUA Group, Flour Mills and 49 other companies over forex deals conducted during the tenure of Godwin Emefiele, the disgraced former Governor of the Central Bank of Nigeria, CBN.
Although details of the EFCC probes are still sketchy but it appears to be a blanket investigation into the biggest companies that got forex allocations from the CBN under Emefiele in the last 10 years.
The EFCC had written to the 52 companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years.
The EFCC is said to have discovered that the allocations were not approved by the former President Muhammadu Buhari.
The EFCC letter to the companies is part of ongoing investigation into alleged preferential Forex allocations to individuals and organisation.
Investigators have in the past months accused the CBN of favouring and enriching some individuals and companies through non-transparent allocation of foreign exchange to them.
Meanwhile, Operatives of the Economic and Financial Crimes Commission, EFCC, on Thursday, besieged the Head offices of the Dangote Group of Companies and BUA Towers in Lagos State.
The EFCC search, commenced at Dangote’s head office in Lagos around 3 p.m. on Thursday. The operatives were also at BUA Towers located at PC 32, Churchgate Street, Victoria Island, Lagos State.
