EFCC Visit: Dangote Offers Explanation And Assurance To Stakeholders

EFCC Visit: Dangote Offers Explanation And Assurance To Stakeholders....KINDLY READ THE FULL STORY HERE▶

The management of Dangote Industries Limited has allayed concerns among stakeholders after a visit to its Lagos Head Office by officials from the Economic and Financial Crimes Commission (EFCC). The company expressed its readiness to cooperate with the commission in its investigations…….CONTINUE READING

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In a statement, the prominent indigenous conglomerate revealed that it had received a letter from the EFCC on December 6, 2023, seeking details of all foreign exchange allocations from the Central Bank of Nigeria (CBN) between 2014 and the present day.

The company clarified that the EFCC’s request was not unique to Dangote Group, noting that similar letters were sent to 51 other groups of companies for the same information over the same period. Dangote Group promptly responded, acknowledging receipt of the letter, seeking clarification on the specific subsidiaries or companies within the Group that the EFCC required information on, and requesting additional time to compile the extensive documentation spanning ten years.

Despite the requested clarification and extension, the EFCC did not provide the information sought and insisted on receiving the complete set of documents within a limited timeframe. The Dangote Group assured the EFCC of its commitment to providing the information and pledged to share documents in batches as the compilation progressed.

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

While Dangote Group representatives were at the EFCC’s office to deliver the documents, a team of EFCC officers visited Dangote’s offices to demand the same documents in a manner that seemed designed to cause unwarranted embarrassment. Notably, no documents or files were taken from the Head office during the visit, as these were already in the possession of the EFCC.

The management emphasized that, to their knowledge, no accusations of wrongdoing have been made against any company within the Group. Currently, the company is responding to a request for information to assist the EFCC in its ongoing investigation.

As a law-abiding and ethical corporate citizen, Dangote Group remains committed to providing the EFCC with all necessary information and cooperation. The first batch of documents has already been delivered, and the company is actively working to compile and submit the remaining documents promptly to aid the investigation. The Group reiterated its significant contributions to the national GDP, being the largest private sector employer, one of the largest groups listed on the Nigerian Exchange, and among the highest taxpayers in the country. Dangote Group remains steadfast in its belief in Nigeria’s commitment to the rule of law and fostering an environment conducive to investment and value creation for both local and foreign investors.

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                                                            Source: Bushradiogist

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