The management of Dangote Industries Ltd. reacted to the Economic and Financial Crimes Commission’s (EFCC) raid on its Lagos head office regarding alleged foreign exchange transactions during Godwin Emefiele’s tenure as Governor of the Central Bank of Nigeria (CBN).
In a statement, the multi-product group expressed its readiness to cooperate with the EFCC in its investigation, confirming receipt of a letter on Dec. 6, 2023, seeking details of forex allocations from the CBN dating back to 2014.
The company highlighted that similar requests were sent to 51 other groups, clarifying that it sought further details on the subsidiaries or companies the agency required information about. Additionally, they requested more time to compile the extensive documentation spanning a decade.
Despite the group’s commitment to cooperating, the EFCC didn’t offer the requested clarification and pressed for the complete set of documents within a limited timeframe.
Although Dangote Industries delivered the first batch of documents on Jan. 4, the EFCC officers declined to accept them, insisting on collecting the documents directly from the company’s offices. During their office visit, they did not seize any documents as those had already been provided.
The company clarified that there were no accusations of wrongdoing against any of its subsidiaries. It stressed its compliance with the ongoing investigation, reiterating its dedication to providing all necessary information and cooperation.
Highlighting its significant contribution to Nigeria’s economy as a leading private sector employer and a major taxpayer, the conglomerate affirmed its commitment to the nation’s rule of law and fostering an investor-friendly environment.
Dangote Industries called for stakeholders’ understanding, promising to keep them informed of any developments.
The EFCC’s search on Jan. 4 targeted alleged forex transactions between Dangote Group and the CBN during Emefiele’s tenure.
