Dangote Officials Summoned in Expanding Forex Probe

The Economic and Financial Crimes Commission (EFCC) has summoned officials from the Dangote Group to produce comprehensive foreign exchange transaction records spanning the past nine years in Abuja. This request comes after EFCC operatives raided Dangote Industries Limited’s headquarters in Ikoyi, Lagos, as part of an ongoing investigation into the alleged misuse of foreign exchange allocations during the tenure of former Central Bank Governor Godwin Emefiele. The focus of the probe revolves around suspected preferential forex allotments to the conglomerate owned by billionaire Aliko Dangote and 51 other companies during Emefiele’s leadership at the CBN.

Although the operatives seized some documents during their visit to the group’s head office, it appears these documents did not cover all relevant transactions. Consequently, officials have been summoned to present additional documents in Abuja on Tuesday to aid the ongoing investigation. The EFCC aims to scrutinize the allocation patterns of forex, particularly to Dangote’s conglomerate and several other entities, amid allegations of potential irregularities in forex disbursements during the specified period under investigation.

read more @PUNCHhttp://www.punchng.com/forex-scandal-dangote-officials-summoned-to-abuja-as-efcc-extends-probe/