DSS is reportedly investigating a mega economic fraud involving Olam Nigeria Limited, Olam International and their nine subsidiaries to the tune of over $50billion. In a chain of round-tripping foreign exchange deals since 2015, the company, through its Special Purpose Vehicles, SPVs, had booked about $34 billion with the Central Bank of Nigeria, CBN, as capital importation at official rates. But instead of investing the money into the Nigerian economy, sources said the company round-tripped the forex and sold to business men, especially oil and gas marketers and industries such…
Read MoreDSS OPENS INVESTIGATION ON OLAM FOR ECONOMIC CRIME
