This is a fearful one. According to Premium Times, on Thursday, Economic and Financial Crimes Commission (EFCC) operatives raided the headquarters of Dangote Group, as the special investigator continues its work on allegations of corrupt forex allocations and playbooks in Nigeria.
Sources told PREMIUM TIMES that on arrival at the headquarters of one of Africa’s largest conglomerates in Lagos, the EFCC operatives demanded documents relating to allocation of foreign exchange to the group in the last ten years. They then scrutinised the documents provided by officials of the Group for hours, carting some of them away.
This newspaper learnt that the EFCC had written to 52 companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
The EFCC letter to the companies is part of ongoing investigation into alleged preferential Forex allocations to individuals and organisation by the Godwin Emefiele-led Central Bank of Nigeria.
For more on this high octane event in Nigeria, please click here. This one pass a village boy from Ovim, Abia State. Nigeria giveth and Nigeria could be taking now. I am only reporting news please; this one is unprecedented in the history of Nigerian business. Did you read “52 companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years”? Let us know the FX billionaires if they exist.
---
Register for Tekedia Mini-MBA (Feb 10 - May 3, 2025), and join Prof Ndubuisi Ekekwe and our global faculty; click here.
