BUA Chairman, Abdul Samad Rabiu
Fresh details have emerged on how disgraced former Governor of the Central Bank of Nigeria, CBN, favoured BUA Group owned by billionaire Abdul Samad Rabiu with multiple forex allocations in 2017.
While struggling companies begged for forex from CBN and got none, Emefiele turned to Santa Claus, giving BUA Group forex at will, even as the Naira kept losing its value under the sacked apex-bank chief.
A report by SecretsReporters give analysis of how BUA got multiple forex allocation in 2017 at the expense of other multi-national companies:
On the 3rd of January 2017, BUA SUGAR REFINERY received a credit of USD1,619,077,043.97 into their account number 9992023306 domiciled in ECO. The transaction description reads FX CURRENCY SALE FX SALE-BUA SUGAR REFINERY LIMITED IRO LC MATURED OBLIGATIONS FORWARD CONTRACT CBN SMIS FOR FORM M NO.MF20150051645 FOR USD4,898,871.54 @330.5/USD-TB57286-NGN1619077043.97 AT 330.5.
On the 12th of June 2017, BUA RICE LIMITED received a credit of NGN 1,322,273,520.00 into their account number 62487976 domiciled in STERLING from CBN.
On 14th March 2017, BUA SUGAR REFINERY account 9992023306 domiciled in Ecobank witnessed an inflow of N38,963,589.00 with the transaction description “FX CURRENCY SALE FX SALE – BUA SUGAR REFINERY LIMITED IRO FORWARD CONTRACT OFFSHORE CHARGES (FBN, UK) for FORM M/ LC NO. MF20150051645/01420789L15144FB – $92770.45 @ 420/USD TB58160-NGN38963589@420”.
On 12th September 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N813,750,000.00with the transaction description “10627172-LOCAL SRF DRAWDOWN FOR FX-”.
On 29th September 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N651,000,000.00 with the transaction description “10629995-LOCAL SRF DRAWDOWN FOR FX -”.
On 26th September 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N189,344,588.58 with the transaction description “10629995-LOCAL SRF DRAWDOWN FOR FX -”.
On 21st September 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N132,604,000.00 with the transaction description “10628666-LOCAL SRF DRAWDOWN FOR FX- -”.
On 7th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N165,250,000.00 with the transaction description “10635061-LOCAL SRF DRAWDOWN FOR FX”.
On 30th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N688,576,478.42 with the transaction description “10638372-ROLLOVER1 150D 10625250-F”.
On 29th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N33,099,575.00 with the transaction description “10638197-LOCAL SRF DRAWDOWN FOR FX”.
On 29th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N198,300,000.00 with the transaction description “10638198-LOCAL SRF DRAWDOWN FOR FX”.
On 29th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N661,000,000.00 with the transaction description “10638199-LOCAL SRF DRAWDOWN FOR FX”.
On 29th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N1,652,500,000.00 with the transaction description “10638200-LOCAL SRF DRAWDOWN FOR FX”.
On 29th November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N813,750,000.00 with the transaction description “10638177-ROLLOVER 150D 10627172-F”.
On 1st November 2017, BUA SUGAR REFINERY account 2014477236 domiciled in First Bank witnessed an inflow of N183,174,471.42 with the transaction description “10634312-LOCAL SRF DRAWDOWN FOR FX”.
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