• Wednesday, February 28, 2024
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BusinessDay

EFCC probes Dangote, BUA, 50 others over FX transactions with CBN

Kogi State government denies EFCC charges, accuses commission of political agenda

Indications emerged on Thursday that the Economic and Financial Crimes Commission EFCC had spread its investigations into over 50 firms allegedly involved in forex transactions with the Central Bank of Nigeria CBN, under the former Governor, Godwin Emefiele.

BusinessDay gathered from sources close to the anti-graft agency on Thursday that the operatives spread its investigations into Dangote Foundation and BUA cement, amongst other companies.

It will be recalled the Special Investigation instituted by President Bola Tinubu to prove the activities of the apex bank had indicated the former CBN Governor, Godwin Emefiele, of illegally lodging billions of Naira into 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.

The report also revealed how some organizations ” abuse ” forex allocated to them for importation of raw materials.

This is just as others are said to have been involved in” round-tripping” after getting forex at the official rates.

According to the EFCC source, ” We will check all the allegations, and no one will be spared.”

Although details of the investigation were sketchy at the time of filing this report, our source revealed that the EFCC operatives stormed the offices of Dangote in Lagos on Thursday. At the same time, it also visited those of BUA on Wednesday.

” We are investigating the activities of these organizations over the reports of this forex abuse that has brought us to this economic mess.

” We visited the offices of BUA in Lagos on Wednesday, and we visited that of Dangote today, and more have been lined up.”

BusinessDay gathered that the EFCC, which already possesses the complete reports of the Special Investigator, has vowed that no stone will be left unturned to unravel the dirty forex dealings.

BusinessDay also gathered that the anti-graft agency is ready to expose any organization involved.