Emefiele’s case: EFCC Probes Dangote, BUA, 50 Other Companies

    The Economic and Financial Crimes Commission (EFCC) has launched an investigation into the forex transactions of some companies in the country.

    The companies are being investigated for the forex allocations they got during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN), Naija News understands.

    Some of the companies being investigated by the anti-graft agency include Dangote Group, BUA Group and Flour Mills. It is understood that a total of 52 companies are under the searchlight of the EFCC.

    The information available on the investigation revealed that the EFCC had earlier written to the various companies asking for documentation on their forex transactions in the last 10 years, and they have all denied wrongdoing in their communications with the EFCC.

    According to insiders quoted by The Cable on the matter, the Dangote Group, on its part, said it is ready to explain every detail of its forex transactions as it did not breach any laws.

    When contacted by The Cable for comments on the development, the EFCC spokesperson, Dele Oyewale, reportedly declined comments.

    Naija News recalls Emefiele was suspended as CBN governor by President Bola Tinubu on June 9, 2023, and was subsequently arrested and detained by security operatives.

    After several months in detention, he was released from the Kuje Correctional Center in December 2023 after fulfilling the terms of a bail condition granted him by the court.