LAGOS, Nigeria | January 7, 2024 – The Dangote Group has expressed its readiness to assist the Economic and Financial Crimes Commission (EFCC) following the agency’s recent visit to the company’s head office in Lagos. This move comes in response to the EFCC’s ongoing investigation into forex transactions involving 52 companies over the past decade.
EFCC operatives carried out a search at the Dangote Group’s head office on January 4, as part of the broader probe into forex allocations during Godwin Emefiele’s tenure as the governor of the Central Bank of Nigeria (CBN).
In a statement released on Sunday and signed by Mr Anthony Chiejina, the Group Chief of Branding and Communication, the Dangote Group assured its full cooperation with the investigation. The statement also sought to address concerns from stakeholders, urging patience and understanding while promising to keep them informed of any further developments.
The company revealed that it had received a letter from the EFCC on December 6, 2023, requesting details of foreign exchange allocations from the CBN between 2014 and the present. It emphasized that the EFCC’s request was not unique to the Dangote Group, as similar letters were sent to 51 other groups of companies for the same information over the same period.
According to the statement, the Dangote Group responded to the EFCC’s letter, seeking clarification on the specific subsidiaries or companies within the group for which information was required. Additionally, the company requested additional time to compile the extensive documentation spanning the past 10 years.
Despite the requested extension, the EFCC did not provide clarification or honor the request for more time, insisting on receiving the complete set of documents within a limited timeframe. The company, in response, assured the EFCC of its commitment to providing the information and pledged to share documents in batches.
The statement further highlighted that, on January 4, the company’s team delivered the first batch of documents to the EFCC. However, the EFCC officers declined to accept the documents, insisting on visiting the company’s offices to collect them directly.
The Dangote Group emphasized that, to its knowledge, no accusations of wrongdoing had been made against any company within its group. It reiterated its commitment to the rule of law, ethical corporate practices, and cooperation with the EFCC, pledging to actively work on compiling and submitting the remaining documents in a timely manner to aid the investigation.
As a key contributor to the national Gross Domestic Product (GDP) and one of the largest private-sector employers, the Dangote Group remains steadfast in its commitment to Nigeria’s rule of law and fostering an environment conducive to investment and value creation.
