The Economic and Financial Crimes Commission (EFCC) is currently investigating Dangote Group, BUA Group, Flour Mills and 49 other companies over forex deals conducted during the tenure of Godwin Emefiele, the disgraced former Governor of the Central Bank of Nigeria, CBN.
According to reports, details of the EFCC probes are still sketchy but it appears to be a blanket investigation into the biggest companies that got forex allocations from the CBN under Emefiele in the last 10 years.
This newspaper learnt that the EFCC had written to the 52 companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years.
The EFCC letter to the companies is part of ongoing investigation into alleged preferential Forex allocations to individuals and organisation.
Investigators have in the past months accused the CBN of favouring and enriching some individuals and companies through non-transparent allocation of foreign exchange to them.
More to come…