EFCC did not visit our office – BUA

BUA Cement on Friday denied that the company was part of those visited by operatives of the Economic and Financial Crimes Commission (EFCC) over the ongoing investigation into foreign exchange abuse.

BUA, in a clarification issued on Friday, said “BUA wishes to clarify that its premises we’re not visited by EFCC today, Thursday, 4 of January, 2024, neither was it raided, as has been alleged in some online publications and being shared via Whatsapp broadcasts.

The clarification went further to advise the general public accordingly to disregard the news.

Before the April reform by President Bola Tinubu, Nigeria operated multiple exchange rates which economists said contributed to the distortions in forex allocation, market volatility, and fluctuations.

Operatives of the anti graft agency had on Thursday listed about 52 companies under investigation for breach of foreign exchange policy.