EFCC Raided Our Office In A Manner That Appeared Designed To Cause Us ‘Unwarranted Embarrassment’ – Dangote Group

The Dangote Group has accused the Economic and Financial Crimes Commission (EFCC) of not providing enough time for the company to provide documentation on its forex transactions over the last 10 years.

VerseNews hed earlier reported that EFCC is investigating 52 companies, including Dangote Group, over foreign exchange transactions with the Central Bank of Nigeria (CBN) during the tenure of the former CBN Governor, Godwin Emefiele.

The companies have been asked for documentation on their forex transactions, and the EFCC conducted a search operation at the Lagos head office of the Dangote Group.

Dangote Group denied any wrongdoing and accused the EFCC of not providing clarification and not honoring its request for an extension of time to provide the required information.

The company pledged its commitment to providing the information and cooperation to aid the investigation.

However, in a statement signed by the management and obtained during the weekend, Dangote Group accused the agency officials of insisting on visiting its offices to collect directly the same set of documents that a team from the company had taken to the EFCC office.

It also accused the EFCC of not providing the clarification sought and not honouring its request for an extension of time to provide the required information.

It said, “Following the widely reported recent visit of the officials of the EFCC to our headquarters in Lagos on 4

“January 2024, we understand the concern and interest this has generated among our valued partners, stakeholders, and the public, and consider it necessary to provide a factual account of the events.

“On 6 December 2023, we received a letter requesting for details of all the foreign exchange allocated to our company by the Central Bank of Nigeria from 2014 to the present. We understand similar letters were sent to 51 other Groups of companies requesting for same information spanning same period.

“We responded to the EFCC to acknowledge receipt of the letter whilst seeking clarification on the subsidiaries or companies within the Group that they required information on. We also requested for additional time to compile and properly present the extensive documentation spanning ten years.

“However, the EFCC did not provide the clarification sought and also did not honour our request for an extension and insisted on receiving the complete set of documents within the limited timeframe. Despite this constraint, we assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation.

“On 4 January 2024, our team delivered the first batch of documents to the EFCC. However, officers of the EFCC did not accept the documents, insisting on visiting our offices to collect the same set of documents directly.

“Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officers proceeded to visit our offices to demand for the same documents in a manner that appeared designed to cause us unwarranted embarrassment. Worthy of note is the fact that the officials did not take any documents or files from our Head office during their visit as these were already in their office.

“We must emphasize that, to our knowledge, no accusations of wrongdoing have been made against any company within our Group. At present, we are only responding to a request for information to assist the EFCC with their ongoing investigation.

“As a law-abiding and ethical corporate citizen, we remain committed to providing the EFCC with all necessary information and cooperation. We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents, in good time, to aid their investigation.

“Our Group is a key contributor to the national GDP, the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange and one of the highest taxpayers in the country. We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment conducive for investment and value creation for both local and foreign investors.

“We therefore call for the understanding and patience of our stakeholders. We will keep our stakeholders informed of any further developments.”