The Economic and Financial Crimes Commission (EFCC) disclosed on Saturday that its visit to the Dangote Group Headquarters in Lagos was part of an ongoing investigation into foreign exchange allocations made by the Central Bank of Nigeria to the company from 2014 to 2023 during the tenure of former CBN Governor, Mr. Godwin Emefiele.
The anti-graft agency stated that it executed the visit with a search warrant, seeking vital documents, after Dangote Group failed to provide the requested information. The EFCC emphasized that its operatives were able to obtain the required documents during the visit.
In response, Dangote Group asserted that no accusations of wrongdoing had been made against any company within its group. The company claimed that the EFCC’s visit was orchestrated to cause unwarranted embarrassment and clarified that it had delivered the first batch of documents to the EFCC on January 4, 2024, with an active commitment to compile and submit the remaining documents promptly.
The EFCC maintained that the investigation would continue, and Nigerians were urged to await the outcome. The probe reportedly stems from allegations against former CBN Governor Godwin Emefiele and his team, including mismanagement, manipulation of the foreign exchange rate, fraudulent use of the Ways and Means amounting to N26.6tn, inappropriate intervention programs, and questionable expenditures on COVID-19. The findings prompted a closer look at foreign exchange deals, leading to the visit to Dangote Group’s headquarters in Lagos.