In a significant development, the Economic and Financial Crimes Commission (EFCC) has initiated an investigation into the forex transactions of 52 companies conducted during the tenure of Central Bank of Nigeria (CBN) Governor Godwin Emefiele. One of the targeted locations in this probe is the office of Dangote Company PLC in Lagos. The move by the EFCC comes as part of an ongoing inquiry into allegations of non-transparent allocation of foreign exchange, with investigators raising concerns about the CBN favoring certain individuals and companies.
The raid on Dangote’s office in Lagos is a pivotal aspect of this investigation, signaling intensified scrutiny into forex dealings during Governor Emefiele’s tenure. Dele Oyewale, the EFCC spokesman, refrained from providing comments on the ongoing raid. Over the past months, accusations have surfaced, accusing the CBN of allegedly enriching select individuals and companies through non-transparent forex allocations. This investigation is poised to shed light on the nature of these transactions and whether they involve any irregularities.
The forex scandal has sent shockwaves through the business community and the nation at large, as the EFCC takes decisive action against alleged improprieties. As the inquiry unfolds, attention is focused on uncovering the truth behind forex allocations and ensuring transparency in financial practices. The raid on Dangote’s office underscores the far-reaching impact of this investigation, potentially exposing the intricacies of forex dealings during a crucial period in Nigeria’s financial landscape.
